International Conference on Climate ChangeVenice, 11 July 2021

The International Conference on Climate Change was held on 11 July in Venice, hosted by the Italian Presidency of the G20 and organized by the Bank of Italy and the Ministry of Economy and Finance.

The Conference provided an opportunity to present and open a political discussion on: i) how to spur a just transition towards a low-carbon and greener economy; ii) which concrete policy options can be endorsed to effectively curb emissions and fight climate change; iii) how to close the climate data gaps and promote environmental disclosures by harmonizing sustainability scores and developing sustainable taxonomies that are key incentives for financial market players and, finally, iv) how to incentivize and align private financial flows with the green transition.

To help with shaping the debate, four short papers were prepared by four informal working groups: on global climate policy, led by the International Monetary Fund; on financing climate transition in EMDEs, led by the World Bank; on data and disclosure, led by the Financial Stability Board; and on private financial sector involvement in the fight against climate change, led by the COP26 Private Finance Hub.

These four papers, along with the Presidency's Summary of the main takeaways from the Conference are also in the Related Materials section of this webpage.

Morning - Global policies and Climate change

Master of Ceremonies: Mr Alessandro Rivera, Ministry of Finance, Italy

Opening and welcome message (video - 6 min.)

Mr Daniele Franco, Ministry of Finance, Italy

Keynote address (video - 32 min.)

Introduction - Mr Ignazio Visco, Banca d'Italia

Keynote Speaker - Mr William Nordhaus, Yale University (pdf)

Global policy and supporting climate transition in EMDEs (video - 29 min.)

Introduction - Mr Daniele Franco, Ministry of Finance - Italy

Working Group on Global Policy - Ms Kristalina Georgieva, International Monetary Fund

Working Group on Supporting Climate Transition in EMDEs - Mr David R. Malpass, World Bank Group (external link)

Policy panel on global coordination and policies for emerging and advanced countries (video - 90 min.)

Moderator: Ms Gillian Tett, Financial Times

Mr Agustín Carstens, Bank for International Settlements (pdf)

Ms Sri Mulyani Indrawati, Ministry of Finance - Indonesia

Ms Lint Barrage, University of California (Santa Barbara)

Ms Laura Cozzi, International Energy Agency (pdf)

Mr Jin Liqun, Asian Infrastructure Investment Bank (pdf)

Ms Odile Renaud-Basso, European Bank for Reconstruction and Development (pdf)

Mr Martin Guzman, Ministry of Finance - Argentina

Twenty years after Kyoto (video - 26 min.)

Introduction - Mr Ignazio Visco, Banca d'Italia

Ms Janet Yellen, U.S. Treasury

Afternoon - Finance and Climate change

Master of Ceremonies: Mr Luigi Federico Signorini, Banca d'Italia

Climate change and the financial system (video - 75 min.)

Introduction - Mr Ignazio Visco, Banca d'Italia

Keynote speakers:

Mr Laurence D. Fink, Blackrock (pdf)

Ms Christine Lagarde, European Central Bank (external link)

Mr Paolo Gentiloni, European Commission

Ms Linda-Eling Lee, MSCI (pdf)

Ms Shemara Wikramanayake, Macquarie (pdf)

Mr Alok Sharma, COP26 (external link)

ESG data disclosures, green finance and private sector involvement (video - 33 min.)

Working Group on Data and Disclosures - Mr Randal K. Quarles, Financial Stability Board (external link)

Working Group on Private Sector Incentives - Mr Mark Carney, United Nations and COP26

Policy panel on regulations, disclosures, financial risk and private financing for the green economy (video - 70 min.)

Moderator: Mr Alessandro Merli, Johns Hopkins University

Mr Philippe Donnet, Assicurazioni Generali

Mr Erkki A. Liikanen, Trustees of IFRS Foundation (pdf)

Ms Fernanda Nechio, Federal Reserve Bank of San Francisco

Ms Lamia Merzouki, International Network of Financial Centres for Sustainability (pdf)

Mr Ma Jun, China Society for Finance and Banking and G20 Sustainable Finance Working Group (pdf)

Closing remarks (video - 8 min.)

Conclusion - Italian G20 Presidency (Mr Daniele Franco, Ministry of Finance - Italy)

                                                            

Related materials

The Presidency's summary

Background notes:

Press release

Programme and speakers bios

Photogallery