The Green Climate Fund (GCF) and the State of Qatar, represented by the Qatar Investment Authority (QIA), have brought together major institutional investors to advance climate action in the margins of the UN Climate Action Summit.
The event, “Mobilising Institutional Investors for Climate Action”, concluded that there is a need for innovation and partnerships to realise the opportunity to redirect trillions of dollars of investment towards climate action. In particular, Development Finance Institutions need to accelerate de-risking and to work on pooling and aggregation with asset managers so they can be utilised by institutional investors to mobilise trillions for climate financing. GCF's Private Sector Facility provide concessional finance to de-risk and mobilise private investment for climate.
The event, moderated by GCF Private Sector Facility Director Ayaan Adam, was introduced by Javier Manzanares, GCF Deputy Executive Director, alongside Mansoor bin Ebrahim Al Mahmoud, CEO of Qatar Investment Authority, and the closing remarks were made by Elisabeth Borne, Minister for the Ecological and Inclusive Transition of France.
Institutional investors participating in the session represented 3 trillion of total assets, including Hiromichi Mizono, Executive Managing Director and Chief Investment Officer, Japan Government Pension Investment Fund, Anne-Maree O’Connor, Head of Responsible Investment, NZ Super Fund, and Peter Damgaard Jensen, CEO PKA Pension and Chairman Institutional Investor Group on Climate Change. The event also featured interventions from Brooks Preston, Managing Director of Macquarie Infrastructure and Real Assets and Rémy Rioux, Chief Executive Officer, Agence Française de Développement (AFD).