Financing the green transition of the economy

Conference organised by the Federal Council for Sustainable Development and The European Environment and Sustainable Development Advisory Councils Network (EEAC Network)

Where and when: Wednesday 13 November | KBR Royal Library of Belgium – event room Auditorium (Kunstberg/Mont des Arts 28, 1000 Brussels)

Scope

The urgent need to transform the European economy in order to decarbonise it, strengthen its resilience in the face of climate change and respect the environment is undisputed. This is also important for maintaining its competitiveness. Acting now matters to protect financial stability in the Eurozone as well. It has been shown how inaction by economic players can generate financial risks in the long term (e.g. with the intensification of physical risks), but also in the short term (e.g. in anticipation of an abrupt transition). The social costs associated with the increase in inequalities resulting from inaction must also be taken into account.

However, the cost of the changes required is substantial. At European level, the overall cost of mitigating climate change is estimated at between €620 billion and €1,350 billion per year (between 4% and 9% of European GDP), and the overall cost of adaptation at between €175 billion and €200 billion per year (between 1.1% and 1.3% of European GDP). Both private and public funding will be needed.

During the conference, a number of elements will be discussed that need to be taken into account to ensure that financing is consistent with both the sustainability of the economy and the maintenance of financial stability in Europe.

Programme

The conference will be conducted in English. No simultaneous translation will be provided. The following themes will be discussed:

SESSION 1: FACILITATING THE DEVELOPMENT OF TRANSITION PLANS

• Minimum criteria for assessing the adequacy of a climate transition plan and effective engagement and voting practices
• What reference scenarios are needed?
• Q&A

SESSION 2: IMPROVING THE SUPERVISION OF FINANCIAL PLAYERS AND PRODUCTS – PART I

• What changes would be needed in financial supervision?
• What is the impact of climate litigation risks?
• Q&A

SESSION 3: IMPROVING THE SUPERVISION OF FINANCIAL PLAYERS AND PRODUCTS – PART II

• Relevant elements of the EU framework
• Q&A

SESSION 4: PANEL AND Q&A

• Fee KIRSCH (EEAC coordinator), Moderator
• A representative of the European Commission (DG FISMA) (TBC)
• Brenda VAN TENDELOO (National Bank of Belgium)
• Frédéric VONNER (PwC Luxembourg)
• Grégory SCHNEIDER-MAUNOURY (Défis Impact)
• Isabelle CABIE (Candriam)

Registration

You can find the full program and register here.

More info

20241113 | Financing the green transition of the economy - FRDO