For the first time at COP – money
What I learned
In this post:
Finance day at COP 26
Most important 2 things for Global Financial to move
GFANZ
What’s Driving the Latest ESG Trends? – advertisement
Other money sources
…REMEMBER a list at the bottom of other posts about SMB Finance
Intense Financial Talks
“The Money Men and Money Women are in Town”
The video right below is the opening of the Finance day at COP 26. I have arranged to start it at 23:00 min. into the 3 hour video.. I suggest that you watch it to 50:00 min…to hear some of the more interesting aspects of the forward movement the financial community is taking – finally – into climate action.
As the host for this video, Gillian Tett, mentions that not only is there more money in the “pot” but more activity is in the works to organize the “plumbing” that is needed to move the “pot” to the people how need it.
– CLICK THE CC FOR SUBTITLES……..
I am hoping that we will soon hear more about the efforts that are being made to stablize the Carbon Offsets into a real viable market. But not yet. The hour long video below, includes people working on that, but also some of the companies that make, what may happen at COP 27, so speculatively interesting to anticipate. ……
First, a short film will show you what investors, economists and GreenTech start-ups are doing, and then a discussion with some of those very people, moderated by Oxera Partners Jostein Kristensen and Sahar Shamsi.
• Iggy Bassi, Founder and CEO, Cervest , EarthScan
• Sam Gill, Co-founder and COO, Sylvera
• Steve Whitehead, COO, Infinite Power Company
• Michael Naylor, Chairman, Jupiter Green Investment Trust
• Sam Roch-Perks, Co-Founder and Managing Director, Simply Blue Group
• Phill Davies, Co-Founder and Commercial Director, Magway
– CLICK THE CC FOR SUBTITLES……..
At 52:39 min. Ms. Sahar Shamsi summarizes: We have heard four things today.
Firstly, there is no shortage of great ideas for breakthrough technologies. The ideas that can deliver decarbonization are here and there will continue to be more.
Secondly, we are assured, Jupiter tells us, that the financial capital stands ready. The risk return appetite of investors increasingly accommodates the accelerators and the innovators in sustainability.
Thirdly, what we need and you all agree is coordinated uptake. The two barriers that you’ve identified in terms of regulation policy and then consumer uptake (acceptance and action) are significant impediments in terms of responding to market challenges and the market failures that we see. So coordinated uptake, in terms of changes in behavior, in terms of regulation, in terms of policy coordination.
Cervest and Sylvera have told us that what they see is the need to work with incentives.
Magway and Infinite Power have told us that they see the role for firms to recover
the significant upfront capital costs of investment. These rely on uptake and this is perhaps the most complex part of the decarbonization puzzle. But we do know how to do these regulation policy coordination changes in customer behavior. This is what economics does. So we have ideas and we have finance and we can get uptake.
What’s the next bit? Fairness, any mass movement in resources, which redistributes resources like the industrial revolution of the 1800s, creates winners and losers and Simply Blue has taken the example of the importance of taking coastal communities along. Taking people along and being seen to deliver a just transition, will be an important part of maintaining the legitimacy of the green revolution.
So ideas, finance, coordinated uptake, just transition economics can help enable this. And that leaves me and we want it to leave YOU feeling hopeful.
SO………………………
Intense Financial Talks at COP 26
The most important 2 things
for the global financial community at COP 26 were documenting
RISK and TRANSPARENCY (in the form of disclosure).
You can hear it in the way Mr. Carney makes his announcements………………….
Private and Public Finance are on board – one form is G-FANZ
– CLICK THE CC FOR SUBTITLES……..
Banks are finally trying to feed the urgency of the climate situation, with more innovation and creativity. But, still Risk (one form is Disaster Risk Bonds) and Transparency (the mandate for reports such as ESG and TCFD) remain clearly 2 essential components in the new creativity. And they have found innovative ways to deal with them in The 2 Reports ESG and TCFD.
GFANZ
The Glasgow Financial Alliance for Net Zero (GFANZ) provides a forum for leading financial institutions to accelerate the transition to a net-zero global economy. Our members currently include over 450 financial firms across 45 countries responsible for assets of over $130 trillion.
We’re focused on broadening, deepening and raising net-zero ambitions across the financial system and demonstrating firms’ collective commitments to supporting companies and countries to achieve the goals of the Paris Agreement. We also support collaboration on the steps firms need to take to align with a net-zero future.
Access to GFANZ is anchored in theRace to Zero campaign to ensure credibility and consistency. This means GFANZ firms’ net-zero commitments must use science-based guidelines to reach net-zero emissions by 2050, cover all emission scopes, include 2030 interim targets and commit to transparent reporting and accounting in line with Race to Zero criteria.
GFANZ Chair’s Summary – COP26 Climate Scenario and Pathways Roundtable
Mark Carney’s discussion summary
- Risk is mentioned 14 times in this discussion summary
- Transparency is mentioned 1 time.
- Disclosure is mentioned 3 times, specifically in relation to the TCFD.
As mentioned in the After COP 26 post, the SME Climate Club, urges small and medium businesses to commit to:
The SME Climate Commitment
- Halve our greenhouse gas emissions before 2030
- Achieve net zero emissions before 2050
- Disclose our progress on a yearly basis
– R. Buckminster Fuller
“A problem adequately stated is a problem well on its way to being solved.”
Any GREEN small business or project can only benefit from ESG reporting and TCFDisclosure. Include them in your documents to search for your first money. Your next funding may not be as a “project in isolation”, but flow with upcoming new Net Zero policies = The Circular Economy
Intense Financial Talks at COP 26
Finally the money is beginning to flow:
You can see below that financial institutions are ready to benefit from Sustainable Investing and believe it is the basis of the future.
What’s Driving the Latest ESG Investment Trends?
Advertising fromJ.P. Morgan:
J.P. Morgan Asset Management’s 7 Essentials of ESG help to demystify the vast landscape of sustainable investing [for investors]. Find out why backing sustainability creates a powerful portfolio opportunity.
Intense Financial Talks at COP 26
There is lots of other money out there if you know where to look:
Green banks gain ground in liberal communities struggling to turn climate pledges into action
25 December, 2021 – …These nonprofits, or green banks, leverage public or philanthropic dollars to draw in private investment in projects that building owners, contractors or developers may not otherwise deem financially worthwhile. They underwrite loans, lend money directly or, as in Epworth Church’s case, broker power-purchasing agreements with companies that own and lease solar panels so clients pay for the energy but not for the equipment. In recent years, green banks have also increasingly started to position themselves as vehicles for bridging inequities, focusing their investments in underserved communities that have suffered the effects of climate change but have not traditionally been able to afford the technology to go green or to benefit from the cost savings of doing so….
…”Things are sort of at fever pitch right now,” said Alex Kragie, director of the American Green Bank Consortium. “We’ve seen a tremendous amount of interest as policymakers realize that the climate issue is . . . about more than just setting targets for renewable-energy standards. It’s about providing the resources to make that happen.”
Also take a look at my posts: How To Finance Your Own “Green” Recovery – 8 Tips For Small Businesses
Recycling Grants/Funding For Waste Plastic or other types of green projects
I hope COP 27 will be an even bigger benefit for GREEN Business.
Egypt is waiting for us………………
Over the past 10 years, EIT Climate-KIC’s accelerator programme has been Europe’s engine for climate solutions.– CLICK THE CC FOR SUBTITLES……..
In my book “How to Avoid a Climate Disaster”, I introduce a new tool called the Green Premium. It helps us see which zero-carbon solutions we should deploy now and where we should pursue breakthroughs.
(I am not endorsing Mr. Gates’ Book. I have not read it.)
– CLICK THE CC FOR SUBTITLES……..
Intense Financial Talks at COP 26
Please let there be much more at COP 27
*3 part series with suggestions for financing a Small GREEN Business project:
Part #1 – Keep an Open Mind & Incentives offered by your Buyers
Part #2 – Documentation & CE and Sustainability Certificates
Part #3 – Private Funding & Government funding
and now 2 additional post about Waste Commodity tools.
and Waste Online Tools! There Are More Of Them!
Also:
The 2 Reports To Help GREEN Small Business Find Money
After COP 26 – Who Says There Was No Progress?
Intense Financial Talks At COP 26
Horrific Disruptive – Economic Opportunity!
Have You Been RE-THINKING Your Business?
How To Finance Your Own “Green” Recovery – 8 Tips For Small Businesses