Karin Baumgart Srougi

Strategic financing is critical for climate resilience. Our latest blog unpacks 7 guiding principles for preparing finance strategies for climate change adaptation in developing countries. These principles are developed based on a review of existing financing strategies for adaptation and input from experts engaged in their development. 🔗 https://bit.ly/3JRkh77 #climatefinance #NAPFinance

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👉 SPOROS is thrilled to share insights from our recent participation in the World Circular Economy Forum WCEF held in Brussels. At WCEF 2024, global leaders, experts, and stakeholders converged to exchange ideas and catalyze actions towards advancing the circular economy agenda. From urgent calls to action to discussions on global collaboration and systemic transformations, the forum provided invaluable insights into the future of sustainability and circularity. As a proud advocate for sustainability, SPOROS remains committed to the objective of circular economy and driving positive change. Stay tuned for updates as we continue our journey towards a more resilient and sustainable future for all. 🌱 #SPOROS #SPOROSPlatform #CircularEconomy #Sustainability #WCEF2024 #SPOROSImpact #GreenFinance

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#NewPublication | In the midst of the Brazilian G20 presidency, CPI, together with Institute for Climate and Society, CEBRI - Centro Brasileiro de Relações Internacionais, and CONCITO convened a high-level roundtable to assess progress and challenges in the climate finance agenda. The report "Strengthening Climate Finance Delivery: The Path from Brazil’s G20 Presidency to COP30" provides key insights to establish an international dialogue on climate finance, and recommendations for the Brazilian government. 🔗 The report is available at: bit.ly/FCg20COP30EN #climatefinance #G20 #COP30 #climate

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We are happy to join leading voices as we discuss innovative #ClimateFinance mechanisms and reforms necessary to mobilize resources effectively for #ClimateMitigation and adaptation. Our Regional Director Dr. Malle Fofana will be part of the virtual roundtable on "Innovative Climate Finance: Reforming Global Financial Architecture for a Sustainable Future" on June 27. Moderated by Globesight, the event will focus on bridging the existing financing gaps and enhancing the efficiency and impact of climate funds in the global financial architecture. As the UNFCCC drives efforts to establish a new climate finance goal beyond 2025, called the "New Collective Quantified Goal" (NCQG), at COP29 in Baku later this year, it is becoming increasingly clearer that the traditional funding models, such as debt, equity, and grants, have not been sufficient to close the climate finance gap. Innovative climate finance must, therefore, be further emphasized to unlock much-needed private sector capital to meet the growing demands and, at the same time, minimize risks. This virtual dialogue will convene key representatives from international organizations, financial institutions, and philanthropic organizations to discuss innovative climate financing mechanisms and reforms necessary to mobilize resources effectively for climate mitigation and adaptation, particularly in the most vulnerable regions. The focus will be on bridging the existing financing gaps and enhancing the efficiency and impact of climate funds in the global financial architecture. This event is part of the ‘Road to COP29’ event series hosted by Globesight. You can be part of the discussions as well! 🔗 Register now: https://lnkd.in/de33p8hj #ClimateFinance #COP29 #GlobalFinance #ClimateAction #LCAW2024 Global Green Growth Institute

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🏦 💴 Financing challenges are at the heart of the sustainable development crisis and currently imperil the #SDGs and #climateaction – but finance is also a potential catalyst for both meeting the SDGs and preventing further climate breakdown. Financial institutions can and must play a pivotal role as facilitators and intermediaries to distribute resources within planetary boundaries and serve the needs of people and the society, while also being mindful to act themselves in line with established sustainability principles. While some financial institutions have begun this journey, and are leading the way, many have not. Understanding where the financial system is in this process, the Financial System Benchmark assesses 400 leading financial institutions (including #AssetOwners, #AssetManagers, #banks and #insurers) on their contribution to a just and sustainable economy. The newly updated Methodology for the Financial System Benchmark provides the basis for assessing financial institutions on a wide range of key topics and is intended as a system-level tool for regulators and stakeholders to hold financial institutions to account, as well as a roadmap that could assist financial institutions in establishing and enhancing sustainable practices. Read it here ➡ https://bit.ly/FSBmethod

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Empowering #climateaction with a gender-responsive approach 🙋‍♀️ UN Women Asia and the Pacific and partners kickstart a three-day workshop today to boost understanding and technical knowledge of gender-focused climate finance in Asia-Pacific. GCF colleagues in sessions will share insights on the current landscape of climate finance and approaches to accelerating finance access for inclusive and equitable climate programmes. Full agenda here ▶️ https://g.cf/3WpdrNM UN Climate Change | UN Environment Programme | Adaptation Fund | NAP Global Network | United Nations Human Rights

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♻️🚺 Gender-Responsive Climate Governance and the Role of Women Leaders is a new IFC - International Finance Corporation report designed to enhance the private sector’s ability to develop more effective gender-inclusive climate governance, strategies, and actions. The report focuses specifically on emerging market and developing economies (EMDEs) and looks at underexplored aspects of the climate-gender nexus: whether EMDE companies have formalized policies and strategies governing their climate action, whether they take integrated action on climate and gender, and whether the presence of women in the senior leadership of these companies serves as a positive influence to drive gender-responsive climate governance. Key insights: 🌐 The research finds that while many companies in emergingmarkets and developingeconomies are taking steps toward climateaction and addressing gender-related issues, few are bringing the two together for an integrated and comprehensive approach. 🌐 Implementing policies or projects without meaningful and measurable participation from women exacerbates existing inequalities and reduces effectiveness. Women’s perspectives and talent can contribute to climateadaptation, mitigation, and the transition to cleanenergy. 🌐 Despite this, there is a notable gender gap in climategovernance leadership. Women remain underrepresented among decision-makers, limiting their ability to take a more meaningful leadership role on these issues. 🌐 Participants in the global survey, interviews, and focus groups noted that progress will require a collaborative shift and concerted effort across markets, as well as commitment from a range of stakeholders, including boards, senior leadership, regulators, policy makers, development finance institutions, stock exchanges, and investors–each of which has an important role to play. Thanks to Ann Moline, editor extraordinaire, and Kite Insights for their research work. The research was funded by the Government of Luxembourg/Ministry of Finance, Luxembourg and the The World Bank Group SDG Partnership Fund. 📗 Download the study >> https://lnkd.in/emTdPrCD #femaleleadership #womeninbusiness #sustainabledevelopment #womenleaders #climatechange

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⚡ Farmers received 70% of the funding through USAID Investment for Business Resilience Activity Project grant programmes. In total, since October 2023, this funding has been provided to 600 businesses, worth around USD 50 million. This was stated by Yulia Vitka, Acting Chief of Party of the USAID Investment for Business Resilience Activity , during her speech at the FIT for Ukraine Bukovyna Sector Forum: Fruit and Vegetable Processing in Chernivtsi. "USAID's Investment for Business Resilience Activity project has very ambitious goals. This year, we are continuing to support critical industries, not only through financial intermediaries as in the past, but also by providing direct financing to Ukrainian businesses. We aim to create 20,000 new jobs for Ukrainian companies that receive funding through the project's grant programmes, and to increase their sales by USD 250 million over three years. Therefore, the key criteria for participation in the programmes are the prospects for expanding the workforce and the ability to increase sales, including exports. The agricultural sector is critical to Ukraine's economic recovery and to increasing its export potential. That is why USAID's Investment for Business Resilience Activity Project provides strong financial support to agribusinesses through grant programmes," said Yulia Vitka. The aim of the forum was to create an information and presentation platform for agribusinesses, highlighting the prospects for investment in the region's industry, increasing its competitiveness and export potential for the rapid recovery and development of the Ukrainian economy. The event was attended by more than 700 large and medium-sized enterprises of the region, representatives of the government, financial institutions, investors, heads of retail chains and business circles of Bukovyna, for whom the speakers presented analytical materials on the state of the sector in the region, financial opportunities and government incentives for the implementation of investment projects. The forum also included an EXPO zone where regional companies presented their products and services. Organisers:   #UkraineInvest - government office for investment promotion and support   Chernivtsi Regional Military Administration USAID Investment for Business Resilience Activity FIT for Ukraine is a series of investment forums for businesses interested in Ukraine's reconstruction. In 2023, more than 7,000 people from 65 countries participated in FIT for Ukraine events.

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The leaders of 10 multilateral development banks (MDBs) today announced joint steps to work more effectively as a system and increase the impact and scale of their work to tackle urgent development challenges! 1. Scaling up MDB financing capacity. 2. Boosting joint action on climate change. 3. Strengthening country-level collaboration and co-financing. 4. Catalyzing private-sector mobilization. 5. Enhancing development effectiveness and impact. Read more to see how we're building a better, bigger, and more effective system to tackle urgent global needs. https://shorturl.at/kBTU6 #GlobalDevelopment #SustainableFuture #ClimateAction

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📘 NEW IFC REPORT! IFC - International Finance Corporation has just published the study “The Economic Opportunity for Financial Inclusion of Forcibly Displaced People by the Financial Sector in Brazil”. The publication includes a comprehensive market assessment on the current demand and supply of financial and non-financial services for forcibly displaced people (FDP) in #Brazil. The report also provides the necessary inputs for the financial sector to elaborate or improve institutional strategies that recognize the economic opportunity related to the financial inclusion of this community in the country. Contrary to misconceptions that inhibit economic and financial integration of FDPs in Brazil, this segment has the potential to become promising customers for financial service providers. The report can be found in English and in Portuguese: https://lnkd.in/dA55X9KR ACNUR, Agência da ONU para Refugiados | UNHCR, the UN Refugee Agency

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#MDBs need to work differently in countries to enable public and private #climateinvestment and respond to a dynamic investment environment. MDB reform is a golden opportunity to scale up private sector climate action. ✅ For more, read ➡ https://lnkd.in/eHGM3QDU

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Apply to Convergence Blended Finance's Gender-Responsive Climate Finance Window for early-stage grant funding focused on the intersection of #ClimateChange and #GenderEquality in #EmergingMarkets globally. Deadline: August 30, 2024 ➡️ https://bit.ly/3KPjVyo #BusinessDevelopment #BizDev #SocialImpact #apply #ClimateFinance #SustainableFinance #grants

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How can we incentivize private sector finance to address the challenge of biodiversity loss? Join us in a conversation with experts from IDB Invest and IFC - International Finance Corporation to discuss innovative ways in which the multilateral banks can contribute. #IDBInvestSustainabilityWeek

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🌍 Climate Action: Key Changes and Challenges 🌱 Challenges highlighted in the recently released "State of Climate Action Series: 2023" This report provides valuable insights into the progress and obstacles we face in our collective efforts to combat climate change - Revised Targets: The 2023 update incorporates the latest scientific findings and scenarios from the Intergovernmental Panel on Climate Change (IPCC). As a result, 15 targets have been revised to align with the best available science. These targets reflect the critical shifts needed in sectors such as power, buildings, industry, transport, forests and land, and food and agriculture to limit global temperature rise to 1.5 degrees Celsius by 2030 and 2050. - Additional Indicators: To better monitor progress, four new indicators have been included in the report. These indicators focus on areas such as the share of new buildings that are zero-carbon in operation, the share of electric vehicles in two- and three-wheeler sales, the GHG emissions intensity of agricultural production, and the ratio of investment in low-carbon to fossil fuel energy supply. These additions enhance our ability to track the necessary transformations in key sectors. - Interim Targets: The 2023 update also introduces interim targets for 2035 or 2040, where applicable. These targets provide a more comprehensive roadmap toward achieving the long-term goals and help assess progress in the near term. - Global Progress Assessment: The report evaluates the global progress made toward the identified targets. By comparing recent advancements with the required pace of change, the assessment quantifies the global gap in climate action. It categorizes efforts as on track, off track, well off track, heading in the wrong direction, or lacking sufficient data Challenges: 🔸 Decarbonization Pace: Achieving the necessary transformations across sectors remains a significant challenge. Each sector must decarbonize by 2050, and if progress in one sector is slower, others need to transition proportionately faster or additional carbon removal measures must be implemented 🔸 Residual Emissions: Despite our best efforts, some residual greenhouse gas emissions will likely persist. These emissions present a challenge as they are difficult to eliminate completely. Scaling up carbon removal technologies and climate finance becomes imperative to offset these remaining emissions effectively 🔸 Limited Emissions Budget: The remaining greenhouse gas emissions budget is small. This limitation restricts the flexibility to assign different weights to sectoral actions. It reinforces the need for ambitious and rapid emissions reductions across all sectors to stay within the global temperature limit #greenhydrogen #electrolysis #electrolyzer #electrolyser #pem #soec #ev #electricvehicles #fcev #bev #soe #aem #cathode #greenelectricity #water #energy #renewableenergy #decarbonize #iea #greenhousegas #ghgemissions  Osama Fawzy Georgy HENEIN, MBA

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The role of small and medium-sized enterprises (SMEs) in conflict contexts 🌍 With investors - DFIs, commercial and impact investors - looking to invest in a world shaped by global instability and conflict, SMEs are increasingly viewed as an opportunity to see both positive returns as well as impacts on development, peace and stability. 📈 However, when TrustWorks undertook a study on SME facilities in FCS last year, we found that none of the 50+ SME facilities assessed takes a conflict-sensitive approach to investing in SMEs. This is despite the role that we know SMEs play in conflict contexts. The absence of a conflict-sensitivity lens when investing in SMEs can lead to inadvertently contributing to conflict and missing out on opportunities to contribute to peace and stability, particularly since SMEs are often on the ‘front-line’ of conflict and violence: they are often highly vulnerable to conflict dynamics and simultaneously beneficiaries of those dynamics, or even a conflict actor in their own right. To learn more about the challenges and opportunities faced by SME facilities, and to see the recommendations we make to those working with SMEs in FCS, check out the full study on our website 👉 https://lnkd.in/ePpD-WUY The study includes expertise and insights from different institutions managing SME facilities: Finn Church Aid GroFin Maris One Earth Future Foundation SINERGI BURKINA and Triple Jump. 🔎 #investor #DFIs #SMEs #FCS #Conflict #Peace

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ARIC and UNEP FI have launched a new framework to help investors assess the impacts of investing in climate adaptation and resilience. This initiative comes as the need for private investment in adaptation grows, with a significant funding gap to address. Read more: https://lnkd.in/eKGi3ste #ClimateFinance #SustainableInvesting

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