UK-Norway Sustainable Finance Action Platform

The world has a special opportunity to reset the global climate change agenda in the lead up to the 26th United Nations Climate Change Conference of the Parties (COP26), to be held in Glasgow, UK. For this to happen, the world must be clear on its strategic objectives, the shifts that are needed, and within that, the role of finance. The reset must be seen in the COVID context of rescue, recovery and transformation, with strong emphasis on the overarching strategic objective/goal of sustainable, inclusive and resilient growth. You can re-watch the kick-off event here, and sign up in the form below. 

There are several initiatives leading up to the COP26 such as the overall strategy forum Glasgow Financial Action Alliance for Net Zero (GFANZ). But the uniqueness of the UK-Norway Sustainable Finance Action Platform is that we focus on a few countries and sectors (energy, maritime, finance), as well as on concretization and action that work for concrete solutions and recommendations identified by the finance actors themselves.

The UK-Norway Sustainable Finance Action Platform is organized by the local networks of the UN Global Compact and by the Norwegian embassy in London and the British embassy in Norway. The initiative, therefore, has both UN support and Foreign office/ COP26 backing. It will be directly linked to the financial campaign of the COP26 led by Mark Carney. Read more about the COP26 Campaign objectives here:

COP26 finance background slides

COP26 Finance Campaign

Benefits of being a part of the UK Norway Sustainable Finance Action Platform

 

  • Engage in a unique international collaboration effort between financial institutions from the UK and Norway. 
  • Contribute to a key COP26 campaign and demonstrate this leadership in the run up to and during the conference. 
  • Be contributing to establish public-private partnerships to scale finance and policy solutions 
  • Provide input to and help shape both new policy formulation and cross-industry business opportunities on sustainable finance. 
  • Participate in a carefully designed and professional programme including a series of workshops that will explore the regulatory framework and investment decisions that are needed to fuel the transition to zero-emission economy and accelerate the green shift. 
  • Learn from experts and peers and hear best practice examples on sustainable finance. 

Learn more about the benefits in the kick-off event by watching the livestreamed kick-off event from February 2n here

Five action tracks

The Platform is based on the five Action Tracks including Financing Global Public Commitments, Reporting, Risk Management, Returns and Mobilisation in the COP26 finance campaign objectives. The platform, geared towards presenting initiatives on successful public and private partnerships at this year’s COP26 has shown us the clear areas of focus which the private sector would like. To reflect expanded interest from companies, we will focus our efforts on Action Track – Mobilisation of Capital, and work on delivering positive solutions. All the workshops will be based on identifying and solving challenges within this area. The Action Track already consists of a wide variety of public and private finance actors along with companies that represent key sectors within the Ocean economy.

Here were three problem areas of particular interest on Mobilisation:

  • Green financing of SMEs – How can we make sustainable finance more practical and accessible for SMEs.
  • Nature-based green finance – How can we increase knowledge about biodiversity and nature, and mobilize capital to nature-based solutions that help mitigate and adapt to climate change.
  • Green finance to capture life cycle impacts – How can we increase knowledge and information on life cycle impacts, and ensure this is integrated into green financing solutions.

You can read some additional background to the discussion around these problem areas and additional topics raised by companies: Additional Background and Topics

The platform timeline

Note: Activities about events post summer 2021 will be communicated with the participants.

To keep the conversation going between workshops we would like to invite those who are interested in a common LinkedIn chat where we will continue to share ideas and thoughts, examples of initiatives, or relevant news or articles. We hope that that forum will serve as a low threshold meeting point to spur ideation and problem-solving.

Participation

The Participation for the Sustainable Finance Platform is mainly for sustainability directors, business developers and staff in Financial Institutions, Research or Knowledge partners, and Public Entities. Each participating company/organization is expected to nominate up to two individuals who will act as their representatives and main points of contact.

Our platform is open to all actors if they either are or apply for UNGC membership. It is not a prerequisite to be part of the Race to Zero Campaign or Science-Based Targets.

 

Let us know that you are interested in joining the Action Platform here

Registration form: UK-Norway Sustainable Finance Action Platform

Is your business interested in being a part of the Action Platform for UK-Norway Sustainable Finance? Sign up here

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