Climate Finance Day 2016: The African Development Bank supports green growth
The second edition of the Climate Finance Day (CFD) was held on Friday, November 4, 2016 in Casablanca, Morocco. CFD 2016 was organized by the Casablanca Finance City Authority (CFCA) with the African Development Bank (AfDB) as the Main Sponsor. The conference was in line with the COP22, which opened in Marrakech on Monday, November 7, 2016.
The main theme of CFD 2016 was “Mobilizing financing in the context of the implementation of the Paris agreement”. CFD 2016 addressed one of the key resolutions from the Paris agreement, December 2015 – a call for decisive action to channel financial flows towards low carbon trajectories. Together with key climate finance stakeholders, CFD 2016 highlighted a range of solutions to support this call. In particular, CFD 2016 tackled the necessary frame conditions to scale-up green financing and the issue of mobilizing the private sector for the climate agenda internationally and in Africa more specifically.
The AfDB spearheaded the panel, “Green Bonds: An Innovative Opportunity for Climate Finance in Africa”, on with the Bank represented by Stefan Nalletamby, Director of the Financial Sector Development Department. Nalletamby noted the relevance of the conference for the AfDB, “CFD 2016 is in line with the AfDB’s corporate priority of green growth, the High 5 Priorities Agenda to transform Africa, and the Financial Sector Development Policy and Strategy 2014-2019 that supports innovative financial products development, including green bonds issuances, to fund productive investments.” The AfDB also participated in the panel “Energy Axis: How to Accelerate the Energy Transition” discussing progress on the AfDB’s New Deal on Energy for Africa.