The Finance in Common Summit takes place 9-12 November 2020 during the Paris Peace Forum. This will be the first gathering of the world's 450 Public Development Banks and their partners. The Summit aims to demonstrate the Public Development Banks' capacities to promote sustainability and resilience and to foster cooperation among them. The event has been labeled with COP-15 and COP-26; this means that CBD is playing an active and supporting role as an event partner. The CBD will be participating in the High-Level Event on Biodiversity, see details below.
With the participation of UN Secretary-General António Guterres, the Finance in Common Summit is an initiative of the World Federation of Development Finance Institutions and the International Development Finance Club and the French Agency of Development, and benefits from the support of a wide range of partners from the UN and multilateral systems and the development finance community.
Expected deliverables include a common declaration from all Public Development Banks, research papers explaining how Public Development Banks can produce more sustainable finance over the long term, and concrete projects and innovative initiatives that support and incentivize the alignment of Public Development Banks with the UN Sustainable Development Goals.
High-Level Event 10: Building Back Better with a Biodiversity-Positive Economy
Online, 12 November 2020, (17:45 -18 :30 CET, Paris time) (11:45- 12:30 EST, Montreal Time) (Led by International Development Finance Club (IDFC)
Elizabeth Maruma Mrema, Executive Secretary of the Convention on Biological Diversity, will participate in a Summit event titled: "Building Back Better with a Biodiversity-Positive Economy". The event examines how the management of biodiversity and ecosystems and their contributions to people well-being and the global economy is not just an environment issue, but an overarching one.
Biodiversity loss is a cross-cutting issue for sustainability, resilience and building back better in the context of unseen impacts of the Covid-19 crisis.
Executive Secretary Mrema will be joined by leaders from: Network for Greening the Financial System (NGFS); The Nature Conservancy; Banco Nacional de Desenvolvimento Econômico e Social (BNDES); FMO; Global Environment Facility; Asian Development Bank; and Inter-American Development Bank.
Finance In Common Summit (Website)
Primary objectives of the Finance in Common Summit:
Gather for the first time the world's 450 Public Development Banks to discuss their role, ambition, challenges and opportunities.
Bring together the financial community at large to design a financial system that seizes the full potential of Public Development Banks to help reorient and leverage all financial flows in the direction of climate biodiversity and the SDGs generally, as well as in the context of the responses to and recovery, from the COVID-19-crisis.
Contribute to reinventing multilateralism by promoting new forms of cooperation. To this end, the new coalition of actors created during the Summit is expected to continue its collaboration.