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Events

Systemic Climate Action for Sustainable and Inclusive Growth

November 20, 2020

Webinar

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Building on the recent World Bank Outlook 2050, the objective of this event is to deepen the dialogue on how countries are integrating climate change as a systemic risk to national economic growth planning and sustainable recovery. Work has been underway in many countries through different streams, including consolidated approaches to develop long-term strategies and discrete activities that form the building blocks of long-term strategies (e.g. sectoral strategies, risk-informed macroeconomic planning, climate change legislation, risk-informed financial sector policies). However, most of these efforts are finding it hard to put forward comprehensive plans with the high ambition of decarbonization and sustainable growth that also lay out a path for just transition.

The event will help elevate the dialogue on challenges with integrating climate change as a systemic risk for economic growth and country needs to help overcome these challenges. This will be achieved through a panel discussion giving the spotlight to countries that have been working on such systemic approaches, along with a discussion on how the World Bank can enhance country-led efforts for long-term decarbonization that support sustainable and inclusive growth.

  • Opening remarks:

    • Wendy Hughes, Practice Manager, Carbon Markets and Innovation, Climate Change Group, World Bank

    Speakers:

    • Sarah McPhail, Director, Financial Sector Policy Unit, National Treasury, Republic of South Africa
    • Gcobisa Magazi, Director, Economic Service Unit, National Treasury, Republic of South Africa
    • Andres Perez, Head, International Finance, Ministry of Finance, Republic of Chile
    • Ravi Shanker Prasad, Additional Secretary, Ministry of Environment, Forests and Climate Change, Government of India

    Moderator:

    • Fiona Stewart, Lead Financial Sector Specialist, World Bank

    Presentation:

    • Neha Mukhi, Senior Climate Change Specialist, World Bank
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    Wendy Hughes, Practice Manager, Carbon Markets and Innovation, Climate Change Group, World Bank

    Wendy is the Practice Manager for the World Bank’s Carbon Markets and Innovation unit, where she leads the World Bank teams working on climate markets, climate policy initiatives through the Partnership for Market Readiness and the Carbon Pricing Leadership Coalition. Prior to joining the Climate Change Group, Wendy spent over 20 years in the energy sector at the World Bank, in field-based positions and at the headquarters. Recent positions include Energy Practice Manager for Southern Africa and Lead Energy Specialist at Energy Sector Management Assistance Program (ESMAP).  Wendy also spent a year in the Climate Change Vice Presidency where she led a team focusing on innovations in carbon markets.  Wendy has a PhD in Mechanical and Aeronautical Engineering from Princeton University.

     

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    Sarah McPhail, Director, Financial Sector Policy Unit, National Treasury, Republic of South Africa

    Sarah is a Director in the Financial Sector Policy unit at National Treasury, South Africa. She is leading the process to take forward the recommendations and develop and Action Plan for sustainable finance, focusing initially on climate finance. She has been with the Treasury for over 12 years in various divisions and roles including review of development finance institutions; oversight of regional water utilities; budget allocations to the Department of Water and Sanitation and Department of Cooperative Governance, and policy analysis in the urban development and infrastructure unit. She has also worked in the private sector as a development consultant. She has a Master’s degree in Public and Development management, and undergraduate Business Science degree with Finance Honours.

     

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    Gcobisa Magazi, Director, Economic Service Unit, National Treasury, Republic of South Africa

    Gcobisais a Director in the Economic Service Unit at the National Treasury, South Africa. She oversees the environment, tourism and science and technology portfolio and leads the work pertaining to these areas in terms of sectoral budgeting, policy analysis and oversight within the National Treasury. She is also the chairperson of the National Treasury Climate Change working group established in June 2019 looking to improve transversal coordination on climate change and its integration into public policy and the intergovernmental budget processes. She has been with the employ of National Treasury for 11 years, where she has served in different capacities and portfolios, such as trade industry, international relations and presidency and represented the Minister of Finance in the panel of senior experts tasked with the African Union Financing Reforms, Presidential Review of the National Youth Policy and Amalgamation of Micro-Finance Development Finance Institutions. She currently serves on various strategic advisory committees and reference groups on biodiversity financing solutions, climate adaptation financing and public employment programmes, among others. She has a BTech degree in Financial Management, postgraduate certificates and is completing a Master’s degree in Public and Development Management.

     

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    Andrés Pérez, Head, International Finance, Ministry of Finance, Republic of Chile

    Andrés is Head of International Finance and Head of Advisors at the Ministry of Finance of Chile. Mr. Pérez previously worked at the Central Bank of Chile, the Federal Reserve Bank of New York, the World Bank, and the private sector. He has also taught at Pontificia Universidad Católica de Chile and Universidad de Chile, and has published macro-related research. Mr. Pérez has an MBA, MPP, and a BA in Economics, all from the University of Chicago.

     

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    Ravi Shanker Prasad, Additional Secretary, Ministry of Environment, Forests and Climate Change, Government of India

    Ravi Shanker Prasad is Additional Secretary at the Ministry of Environment, Forest and Climate Change, and represents India as the Chief Negotiator in bilateral and multilateral meetings on Climate Change. He is also the focal point for India with regard to the United Nations Framework on Climate Change (UNFCCC) and the Green Climate Fund (GCF). He is a 1990 batch Indian Administrative Service officer of Assam- Meghalaya cadre, and before joining MoEF in 2013, served in the Government of Assam in various key positions including Secretary Finance, Tourism, Labour and Employments and the Forests Department.

     

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    Fiona Stewart, Lead Financial Sector Specialist, World Bank

    Fiona, Lead Financial Sector Specialist, is part of the Long-term Finance Team in the World Bank's Finance, Competitiveness & Innovation Global Practice. Fiona provides policy advice on pension and insurance market reform to governments around the world and is currently working on projects in East and Southern Africa, Indonesia and Georgia. Previously, she worked for the OECD’s Financial Affairs Division for eight years and led the Secretariat of the International Organisation of Pension Supervisors (IOPS). Prior to working at the OECD, Fiona worked in the pension fund industry. As head of American Express Asset Management in Japan she was responsible for investing $2bn in Asian equity markets, and, as part of an international team, for managing $20bn globally. She holds degrees from Oxford and Johns Hopkins Universities and a Chartered Financial Analyst qualification. She also served on the advisory board of one of the OECD’s own pension funds.

     

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    Neha Mukhi, Senior Climate Change Specialist, World Bank

    Neha is a Senior Climate Change Specialist at the World Bank based in Washington, DC. She led the World Bank initiative on the World Bank Outlook 2050 Strategic Direction Note: Supporting Countries to Meet Long-Term Goals of Decarbonization, a multisectoral effort that identifies key economy-wide actions to achieve decarbonization and development goals. She is now building World Bank engagement to support countries on long-term decarbonization strategies. Neha also works with World Bank’s Energy practice on climate-resilient and low-carbon investments in power systems in Latin America and the Caribbean. Prior to joining the World Bank, she worked on low emission development strategies for countries in East Asia and South Asia with ICF International’s Energy and Climate group. Neha has an M.S. in Energy and Climate Policy from Harvard University and B.Eng. in Civil and Environmental Engineering from Delhi College of Engineering.