Leveraging the Financing Landscape for achieving the Paris Agreement

To discuss the vital issue of financing, a central element of the Paris Agreement, UNDP and the Embassy of France in Indonesia will host a webinar titled “Leveraging the Financing Landscape for achieving the Paris Agreement”, as part of the commemoration of the 5th Anniversary of the Paris Agreement of UNFCCC, which will be cover two topics, Islamic Financing for Climate Change and Carbon Market Mechanisms.

The objective of the webinar is to share experience and ideas of innovative structures and financial instruments, to enable the leverage of development finance, islamic finance and private sector finance for climate change.

Sub Themes:
Paris Agreement in today's Climate Financing landscape: At the heart of debates at COP21, Nationally Determined Contributions (NDCs) are deeply connected to the Sustainable Development Goals (SDGs), and ought to be addressed simultaneously. Amid COVID-19, Paris Agreement objectives are to be pursued with new constraints. This arising crisis demands innovative structures to face both sanitary and climate emergencies.
1. Islamic Financing for Climate Change: Islamic Finance is a way for Muslim countries and communities around the world to fill in the financing gap of climate investments. Indonesia, home to one of the largest Muslim population, is showing the way with the issuance of the first sovereign green Sukuk.
2. Carbon Market Mechanism: Reduction of greenhouse gases emissions is central in the Paris Agreement. Carbon dioxide is one of them and has a direct impact on temperature increases. Hence, innovative financing instruments to meet the NDC and beyond, such as domestic carbon market development exchanges have a strong role to play.