The Africa Climate Summit (ACS) and the Africa Climate Week (ACW) are set to take place in Nairobi, Kanya from the 4th to the 8th of September 2023.
The Sustainability-linked Sovereign Debt Hub, an initiative of NatureFinance, is co-hosting a side event on Catalysing private-sector capital through credit enhancement for sustainability-linked sovereign financing, with The Nature Conservancy and the Climate Champions Africa Team on the 5th of September.
On the 6th of September, NatureFinance and the Climate Champions Africa Team will cohost another side-event on Developing a Bioeconomy in Africa, to explore the bioeconomy approach for African countries, and its potential to contribute to a circular economy, improved livelihoods and inclusive economic growth.
Below, you can find details of both events.
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Developing a Bioeconomy in Africa
Date: 6th September
Venue: Kenyatta International Convention Centre (KICC), Nairobi, Kenya
Location: Aberdare’s room
Time: 17:00-18:30 UTC +3
This event will explore the bioeconomy approach for African countries, which can contribute to a circular economy, improved livelihoods and inclusive economic growth. It will also look at the systemic transformation that is needed which requires not only significant investments and uptake of innovative solutions, but also other types of enabling support. Focusing on a bio-economy offers new insights and possibilities for resource management and mobilisation.
This event will:
- Contribute to enhancing the delivery of the Sharm-el Sheikh Adaptation Agenda and outputs of Global Stocktake: by exploring essential policy and finance interventions that can enhance action towards increasing the resilience of 4 billion people by 2030, by focusing on what a bio-economy has to offer, contributing to the actions needed to course correct based on the outcomes of the GST.
- Discuss what a bioeconomy approach for an African country means as a way forward for sustainable development to boost economic opportunities while enhancing livelihoods, climate and nature action, including the tools available to enable holistic decision making.
- Showcase the financial instruments that deliver for climate and nature, including the role of public and private financial institutions (e.g. blended finance instruments, sustainability-linked sovereign debt instruments, potential of nature markets).
- Point to the role of various non-state actors in aligning financial flows with nature and climate goals and the enabling policy environment that is needed to upscale delivery of finance to local communities and stakeholders.
Hosted by Climate Champions Africa Team and NatureFinance
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Catalyzing private-sector capital through credit enhancement for sustainability-linked sovereign financing
Date: 5th September
Venue: Kenyatta International Convention Centre (KICC), Nairobi, Kenya
Location: Side event Tent 2, River Nile Tent
Time: 15:30-16:30 UTC +3
There is potential to deploy credit enhancement for sovereign borrowing at a much larger scale in Africa. These instruments make up only a fraction of IFI commitments because of, inter alia, misaligned incentives within IFIs arising from equivalent pricing and capital treatment of guarantees and loans. At an affiliated event co-hosted by SSDH, TNC, UNFCCC Climate Champions, and the COP28 organizers at the Paris Summit in June 2023, major IFIs called for a collaborative approach to overcoming these barriers to scaling up credit enhancement. This workshop will discuss these solutions for the African context and build consensus across the continent for this critical instrument to mobilize climate/nature financing.
The event will:
- Showcase momentum of debt conversion deals globally and in Africa – including the recently closed Gabon debt conversion deal (DFC provided credit enhancement) and the AfDB recently announced interest to support a debt-for-nature swap;
- Showcase the Design Sprint (which was held in Aug) and present its preliminary high-level findings on the optimal designs of collaborative credit enhancement mechanisms;
- Explore applications of these climate/nature solutions for African sovereigns and sub-sovereigns in the context of escalating climate, nature, and debt crisis, referring to examples of successful usage of credit enhancement on the continent, and receiving feedback from key government, market, and civil society stakeholders from Africa;
- Build interest and support for the prospective solution that is targeted for launch at COP28 to scale further sustainability-linked sovereign debt instruments
Confirmed panellists include representatives from: AfDB, DFC, BoA, TNC & FSD
Hosted by UN Climate Change High-Level Champions, The Sustainability-linked Sovereign Debt Hub, and The Nature Conservancy
For further information, click here
