Rewiring the Financial System to Deliver A Net-Zero Economy
Climate change is an all-encompassing challenge
In order to solve the climate crisis and achieve net-zero ambitions, every major sector of the global economy will need to transform. It’s estimated that US$120trillion of global financing will be needed to deliver a net-zero economy by 2050. So, what can we do to unlock this capital and transform the real economy?
The Financial Times, in partnership with HSBC, was delighted to host this opportunity for an exclusive group of policymakers, business leaders and selected NGOs to come together to discuss how the global economy can be rewired to a net-zero economy. The panel discussion during the reception provided insights from industry leaders on their vision of how the economy can be transformed to unlock capital and deliver net-zero ambitions. The networking drinks following the panel discussion allowed for more one-on-one in depth discussion with the speakers and others looking to leverage a rewired economy to achieve the world’s climate ambitions.
Key Discussion Points
Reflection
It’s been over a year since the Glasgow Financial Alliance on Net Zero at COP26 outlined its ambition to help rewire the financial system to net zero by 2050 at the latest. What has happened, and what needs to happen next?
Macroeconomic Outlook
With today’s headwinds of an energy crisis and war in Europe, inflation, a mounting food crises, and a climate crisis, how do financial actors navigate financing a resilient, affordable and orderly energy and wider net zero transition?
Economic Turmoil
Given the recent economic turmoil will we see a slow down or acceleration of progress that banks and other financiers are making?
Capital
Why is capital still not flowing at scale to the places we need it to? What are the roadblocks and how might we address these?
The Venue
This event took place at Goals House, Four Seasons, Sharm-El Sheikh, located just five minutes from the international airport, yet a world away on the picturesque Red Sea.
FT X COP
FT Live events coinciding with COP27
Monday 7th – Friday 18th November 2022
During COP27 FT Live will be hosting a series of in-person, virtual and hybrid discussions that will complement the themes set out in the presidency programme. The FT hosted sessions will gather leading minds in sustainability and senior FT journalists to provide critical insights throughout the two weeks.
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