Africa transition finance roundtable
The importance, opportunities and challenges of mainstreaming transition finance across the continent
While the concept of transition finance is gaining global momentum, its practical implementation is complex and challenging, and especially in developing economies.
Indeed, in many countries across Africa, the mainstreaming of transition finance - which bridges the gap between traditional and sustainable financing as businesses transition to net zero carbon emissions - is proving challenging for a number of reasons, not least a lack of harmonised definitions, regulatory and investment frameworks.
These elements are fundamental to the growth and development of transition finance, enabling banks, investors and policymakers from Cairo to Cape Town to step-up their support of companies, especially in hard to abate sectors, to adjust and decarbonise.
Challenges in the transition are inevitable. But the pursuit of net zero also presents opportunities to financial instituions and companies.
To discuss both the opportunities and challenges, Euromoney and Egypt's Commercial International Bank (CIB) convened a virtual roundtable of subject matter experts from leading public and private sector institutions:
Dr Dalia Abdel Kader, Chief Sustainability Officer, CIB
Sonja Gibbs, Managing Director and Head of Sustainable Finance, Institute of International Finance
Dr Mahmoud Mohieldin, UN High-Level Climate Champion for COP27 and UN Special Envoy on Financing the 2030 Agenda for Sustainable Development
Dr Hoda Sabry, Adviser to Egypt's Ministry of Environment and Ministry of Investment
Eric Usher, United Nations Environment Programme's (UNEP) Finance Initiative