Cape Town, 28 February 2025 (ECA) - In a dynamic display of innovation and collaboration, more than 38 leading financial experts and practitioners gathered at The Westin Hotel in Cape Town for the roundtable breakfast session “Doing More with Less: Innovating to Tackle Debt and Climate”. Jointly organised by the Sustainable Debt Coalition and the Climate Policy Initiative, the session provided a robust platform to address the dual challenges of unsustainable debt burdens and critical climate finance gaps confronting emerging markets and developing economies.
Driving innovation in financial instruments and global frameworks
The two sessions under the themes “Unlocking Fiscal Space” and “Strengthening Global Frameworks” set the tone with incisive discussions on harnessing innovative financial instruments. Mr. Nassim Oulmane, Chief of Section, Natural Resources and Green and Blue Economy, from ECA shared the introductory notes. The Managing Director of Climate Policy Initiative delivered a strategic update on its recent groundbreaking partnerships with Public Development Banks.
Representatives from the Green Climate Fund and European Investment Bank illustrated real-world applications of debt-for-climate conversions in Barbados, emphasising the transformative potential of localised capacity building. The session also featured The Nature Conservancy’s CEO, who highlighted the critical role of Credit Enhancement Facilities in unlocking significant savings for countries accessing loans from Public Development Banks, which is aligned with the mission of the Sustainable Debt Coalition.
The CEO of Africa Catalyst, the Head of the Secretariat of Paris Pact for People and the Planet (4P Secretariat) and Mr. Amar Battarchaya of Brookings Institute stressed the essential role of collaborative efforts among institutions in overcoming the multifaceted challenges at the nexus of debt and climate, from the 29th Conference of the Parties of the UNFCCC (COP29) into actionable policy frameworks ahead of COP30.
The rich exchange of ideas during the breakfast session bolstered the political momentum of the Sustainable Debt Coalition, which advocates harnessing innovative financial instruments and global frameworks.
For more information, please contact:
Mr. Thierry Watrin, Lead, Sustainable Debt Coalition, ECA
(thierry.watrin@uneca.org)
Mr. Nicolas Nahimana, Communication Lead, Sustainable Debt Coalition, ECA
(guy.nahimana@un.org)