Multinational enterprises (MNEs) provide both a fundamental risk to and an opportunity for climate change mitigation. The climate ambitions of MNEs will affect the environmental performance of countries around the world. As a leading actor, proactive MNEs can impose sustainability standards or encourage green technology transfers that, in some cases, could affect millions of producers and accelerate the climate transition. However, obstructive MNEs may equally hold back any progress to reduce a country’s emissions via inaction or by actively resisting, obstructing, or lobbying against change. It is critical for policymakers around the world to consider the role that MNEs play in climate change mitigation strategies, monitor their current commitment to transition their supply chains to net-zero emissions by 2050, and adopt the necessary measures to accelerate this transition. To guide this endeavor, the World Bank, in partnership with CDP (formerly the Carbon Disclosure Project) have developed a new report that provides insights into MNEs’ impact on climate change.
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This event aims to present the findings of a new report: “The effect of multinational enterprises on climate change: supply chain emissions, green technology transfers, and corporate commitments.” This report brings together the latest available data, analysis and literature to answer four key questions related to the relationship between MNEs and climate change:
(1) What effect do MNEs currently have on climate change, through their own activities and through their broader supply chains?
(2) How do MNEs shape the potential transfer of “green” technology transfers to domestic firms?
(3) How committed are leading MNEs currently to transition their supply chains to net-zero emissions by 2050?
(4) What types of policies can influence multinational enterprises’ effect on climate change?
The event will further discuss what more countries can and should do to shape the behaviors of MNEs as part of their climate change mitigation plans. For this, there will be an active discussion that will include a representative of a multinational enterprise with an active commitment towards sustainable development, and Amir Sokolowski, the Global Director Climate Change, at CDP (formerly Carbon Disclosure Project), which is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.
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Mona Haddad is the Global Director for Trade, Investment and Competitiveness in the Equitable Growth, Finance, and Institutions Practice Group (EFI) Vice Presidency. Ms. Haddad, a Lebanese national, joined the Bank in 1992 as a Young Professional. She has since held various positions in both the IBRD and IFC, her most recent assignment being Director of the Country Economics and Engagement department at IFC, where she led the development of the joint WBG Country Private Sector Diagnostics. Prior to this, she held roles including as Practice Manager of the Trade and Competitiveness Global Practice in East Asia, Sector Manager of the International Trade Department, as well as Trade Advisor to the Minister of Economy and Trade of Lebanon.
Ilias Skamnelos is a World Bank Practice Manager for the Finance, Competitiveness and Innovation Global Practice in Europe and Central Asia. He engages with policymakers to build stable, efficient and inclusive financial systems, and foster private sector development and job creation. Ilias is a Ph.D. macro-financial economist with World Bank experience spanning multiple regions - including Europe and Central Asia, Latin America and the Caribbean, and South Asia - and has served as advisor to the Vice-President of Finance and Private Sector Development. He received his Ph.D. from the University of Nottingham, focusing on financial crises, and studied economics at LSE.
Victor Steenbergen is a Senior Economist in the Investment Climate Unit at the World Bank. His current work focuses on empirical research and policy advice related to the determinants and development impact of investment, with a special focus on trade, tax, and climate change mitigation policy. He was co-authored several World Bank flagship publications, including “An Investment Perspective on Global Value Chains” and “Making the Most of the African Continental Free Trade Area”. Previously, he was Country Economist for the International Growth Centre in Rwanda, a public finance consultant in Nigeria, and an economist (ODI fellow) for the Government of Malawi. He holds a master’s degree in development economics from the London School of Economics.
Ankit Todi leads sustainability strategy and partnerships for the Mahindra Group, a ~$20B federation of companies headquartered in India and presence in multiple different sectors. His role encompasses multiple areas namely, a) shaping the group sustainability strategy and providing though leadership working closely with the group sustainability CEO council b) partnering and managing all international and domestic relations on sustainability, c) driving business via target setting, roadmap, capability building, and driving transparent reporting & disclosures. He is passionate about the clean-technology ecosystem and works to bring new innovations to the companies by engaging with the start-up ecosystem. He’s also part of Mahindra’s groups young leaders program and comes with experience in strategic management consulting space working with Bain & Company across multiple industries in strategy, due diligence, and implementation projects. Ankit has a Masters’ degree in Information & Communication Technology and a Bachelor’s degree in Electrical Engineering from the Indian Institute of technology, Delhi.
Amir Sokolowski is the Global Director of the Climate Change Team. His team provides the strategic direction, helping ensure that CDP incentivizes ambition and is in line with the latest knowledge and developments on the subject. This is expressed through CDP positions on climate as well as the Climate Questionnaire, with the work encompassing the design and promotion of Transition Plans, Alignment with TCFD, integration of ACT, technical underpinning of RE100 and more. Amir has 16 years of experience working on the ground, with government and as part of international negotiations enhancing every element of climate governance. He has worked across many countries drafting legislation, verifying REDD+ projects, negotiating institutions around carbon markets and contributing to the Paris Rule Book. Amir has an MPhil from Oxford, writing about environmental law in national context, an LLB and a BA in Medieval History from TAU.
Asya Akhlaque is Practice Manager for the Global Investment Climate Unit in the Finance, Competitiveness, and Innovation Global Practice, EFI VP at the World Bank Group. Since joining the Bank, she has worked in East Asia, Sub-Saharan Africa and South Asia Region. In her most recent assignment, she was the Lead Economist in the East Asia and Pacific Region. Asya’s primary specialization is in microeconomic analysis of economic development. She has led several high-profile analytical reports including Vietnam’s 10-year Science and Technology and Innovation (STI) Strategy with Education GP; Philippines SME Productivity Report and several national and subnational Investment Climate Assessment reports across South Asia and Africa region. As a seasoned professional she has experience in leading major client engagements across a diverse set of PSD topics, and has co-led multi-sectoral IPF and DPO operations including the Ethiopia Competitiveness and Job Creation Investment Project (US$250M) and the Mauritius Private Sector Competitive Development Policy Loan. Asya holds a Doctor of Philosophy and a M.A. degree in Economics from the University of Cambridge. She received her Bachelor’s degree in economics from the University of Illinois, Urbana-Champaign. Before joining the World Bank, Asya was an Assistant Professor in Economics at the Lahore University of Management Sciences, Pakistan.
- Date: Tuesday, May 23, 2023
- Time: 9:00-10.00 AM (EST)
- Location: Online