• A vegetable seller sits near his produce in Rabat, Morocco
    A vegetable seller sits near his produce in Rabat, Morocco

Upcoming green conference positions network as global IGF policy lead

As global frontrunners in Inclusive Green Finance (IGF) policies that drive financial inclusion and address the ongoing climate emergency, AFI and Bank Al-Maghrib (BAM) will co-host a global conference on green finance next week in Morocco.

More than 100 people are expected to attend the Global Green Finance Conference on October 30, a unique platform for AFI members and international stakeholders to share insight on the possibilities and challenges of green finance in tackling climate change.

With its pioneering developments in green technology and sustainable finance, Morocco is an ideal host for the conference. The country ranked third in Climate Change Performance Index 2018 -- thanks in part to ambitious renewable energy goals -- cementing its position as Africa’s leader in efforts to combat the climate emergency.

BAM Governor Abdellatif Jouahri and AFI Executive Director Dr. Alfred Hannig will deliver the event’s opening remarks in Rabat, which will be followed by a full day of interactive sessions. Among the highlights will be panel discussions that explore environmental and social risk management, climate risk insurance and the importance of data in measuring the impact of financial sector regulation.

The conference will bring together regulators and policymakers from across the financial sector with an interest in banking supervision, financial inclusion and sustainable finance.

Among the speakers will be 10 AFI member institutions -- including Bangko Sentral ng Pilipinas, Reserve Bank of Zimbabwe and Costa Rica’s Superintendencia General de Entidades Financieras, -- and two key AFI partners, reflecting both the conference’s global significance and growing importance of IGF in the broader financial sector.

From outside the network, panelists will include the De Nederlandsche Bank, Banco de España and European Bank for Reconstruction and Development.

AFI is leading the development and practical application of IGF polices that help the poor and disadvantaged groups build resilience and mitigate effects of the climate emergency. Its network of 100 members consider global warming a threat to inclusive development in their countries and recognize the disproportionate impact it has on those living at the bottom of the economic pyramid.

Though the global conference, AFI hopes to foster interest in its in-country implementation grants for green financial inclusion and encourage cooperation in green policies between various stakeholders across national, regional and international lines.

Selected AFI members have also been invited to take part in two days of training designed to enhance their understanding of IGF, the 4P Framework and its incorporation into financial sector and climate change strategies. Crucially, participants will also share their experiences and expertise relating to IGF policies, regulations and measurement frameworks. The member training will be held ahead of the Global Green Finance Conference.

Recognizing this, AFI member institutions formally adopted the Sharm El Sheikh Accord on Financial Inclusion, Climate Change and Green Finance at the 2017 AFI Global Policy Forum, a move that was further cemented by the Nadi Action Agenda in 2018. Last month, IGF became the AFI’s seventh working group following its official launch at the network’s annual flagship event, the AFI Global Policy Forum (GPF).

AFI’s IGF workstream is part of the International Climate Initiative (IKI), which is supported by the German Federal Ministry of the Environment, Nature Conservation and Nuclear Safety (BMU).