12 Nov 2024 | Unlocking Innovative Climate Financing and Partnerships Fostering and Enabling Innovative Climate Finance Mechanism and G20 Bali GBFA Dialogue Indonesia Pavilion at COP-29

At the 10th World Water Forum 2024, 9 (nine) prospective founding members (PFMs); Indonesia, France, Canada, Luxembourg, United Arab Emirates, Kenya, Fiji, Sri Lanka, and Democratic Republic of Congo have signed the Letter of Intent of the Establishment of G20 Bali GBFA, as an initial phase of developing GBFA as an international organization which aims to address the gap of climate finance, especially through South-South Collaboration.

As G20 Bali GBFA is envisioned to become an international organization, the nine PFMs are expected to begin the negotiation of the Articles of Agreement (AoA) as the Charter for the GBFA.

The Governments of Democratic Republic of Congo, Fiji, Republic of Indonesia, Kenya, Luxembourg, Sri Lanka, and United Arab Emirates have held discussions and reached the consensus of the Articles of Agreement (or the AoA) of GBFA establishment as international organization. These countries are committed for completing their respective internal processes and agreed to sign the AoA in October and during COP29 Azerbaijan.

The key objectives of this session are to:

1. Introduce and formalize the establishment of GBFA as a new international organization through the signing of the Articles of Agreement between participating countries, laying the foundation for large-scale blended finance initiatives that will drive global climate action.

2. Highlight the role of blended finance mechanisms and innovative financial tools in closing the climate finance gap, particularly in emerging markets and developing economies.

3. Facilitate discussions on scaling climate finance, focusing on how public-private partnerships, de-risking strategies, and financial innovation can accelerate investment in low-carbon technologies and sustainable development.

The session aims to deliver actionable insights and recommendations on how to leverage blended finance and innovative financial tools to foster climate action and sustainable economic growth.

10.00 – 10.10 am

Opening Remarks 

H.E. Hashim S. Djojohadikusumo, Indonesia Presidential Special Envoy for Energy and Environment 

Special Remarks by the Government of the Republic of Kenya 

10.10 – 10.30 am

• Updates on G20 Bali GBFA Session 
• Remarks by Mari Pangestu, Indonesian Special Presidential Envoy for International Trade and Multilateral Cooperation

10.30 – 11.20 am

Talkshow Session: Unlocking Innovative Climate Financing and Partnerships 

John Denton, Secretary-General, International Chamber of Commerce

Topic: “Blended Finance to Accelerate Climate Actions and the SDGs”

Andrew Steer, President and CEO, Bezos Earth Fund

Topic: “Public-Private-Philanthropic Partnership to Scale Blended Finance”

Sinthya Roesly, Director of Finance of PT PLN (Persero)

Topic: “The Strategy of Climate-Related Financial to Support the Transition”

Jo Tyndall, Director of Environment of Organisation for Economic Co-operation and Development (OECD)

Topic: “Blended Finance Principal for Addressing Financial Gap on SDGs and Climate Action Target”

Alain Beauvillard, Director, Department of Strategy, Policy, and Innovation, Green Climate Fund

Topic: “Financing in Achieving SDGs and Climate Targets”

Q&A Session

Moderated by Katherine Stodulka, Partner and Director of Global Blended Finance Taskforce at SYSTEMIQ