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LJD Week 2023 | Leveraging Finance for Climate Change

November 14, 2023
Virtual & In-Person

In the Paris Agreement on Climate Change (2015), 195 Parties agreed to hold global average temperature increases to well below 2°C, preferably to 1.5°C (Mitigation Goal). Even though the Agreement is a treaty between States only, it calls for the “mobilization” of climate finance (including private sector finance) and invites ‘non-Party stakeholders’, such as the private sector and financial institutions, to scale up their support for climate mitigation and adaptation action. WBG itself committed a record US$31.7 billion in climate finance in fiscal year 2022 while other MDBs also increase their funding levels. But, considering the enormous financing needs and the limited availability of public/MDB funding, it is clear that the private sector capital needs to be mobilized alongside official sector financing if we are to have a fighting chance to keep the Mitigation Goal of 1.5°C alive.

This panel will discuss innovative ways to foster the mobilization of scaled up fit-for-purpose climate finance investments towards climate mitigation and adaptation action in developing countries. In particular, the panel will focus on the role of the private sector and how the public sector/MDBs can best incentivize or leverage private sector climate finance on a continuous basis.

  • Andrew-Steer
    Andrew Steer
    President and CEO, Bezos Earth Fund

    Andrew Steer is the President and CEO of the Bezos Earth Fund, a $10 billion fund to address the pressing issues of climate change and nature in this decisive decade.

    Dr. Steer joined the Bezos Earth Fund from the World Resources Institute, where he served as President & CEO for over eight years. Prior to this, he had served as the World Bank’s Special Envoy for Climate Change and Director General at the UK Department of International Development. This followed 10 years in East Asia, where he was Head of the World Bank in Vietnam and Indonesia. Dr. Steer is a Global Agenda Trustee for the World Economic Forum, a Commissioner of the Energy Transitions Commission, a member of the China Council for International Cooperation on Environment and Development (CCICED), co-chair of the Greening the Belt and Road Coalition, and board member of the Global Energy Alliance for People and Planet.


                        @DrAndrewSteer                    @BezosEarthFund

  • Rachel-Kyte
    Rachel Kyte
    Dean Emerita, Fletcher School of Law and Diplomacy, Tufts University

    Rachel Kyte is Dean Emerita of The Fletcher School at Tufts University and a professor of practice. Ms. Kyte served as special representative of the UN secretary-general and chief executive officer of Sustainable Development for All (SEforALL). Previously, as World Bank Group Vice President and Special Envoy for Climate Change, she led action on climate finance in the run-up to the Paris Agreement. She has also served as an advisor to the UN secretary-general on climate action and the energy crisis response to the invasion of Ukraine, and chaired the Rwandan Green Fund (FONERWA). Ms. Kyte regularly speaks and writes on issues of mobilization of finance for climate action, energy transitions, and climate diplomacy; and advises on financial architecture reform, climate action, and delivery against the SDGs. She has been recognized for her leadership on both sides of the Atlantic and was made a Companion of St Michael and St George (CMG) in the 2020 New Years Honors.


                        @rkyte365                    @FletcherSchool

  • John-Morton
    John Morton
    Managing Director &Global Head of Advisory, Pollination

    John Morton John E. Morton is Managing Director, Global Head of Advisory and a member of the Executive Committee of Pollination, a global climate change investment and advisory firm. He returned to Pollination in January 2023 after having served as the U.S. Treasury Department and Secretary Janet Yellen’s inaugural Climate Counselor. In this role, he managed and coordinated the Department of Treasury’s historically ambitious climate change strategy and policies. Previously, Mr. Morton served as the President’s White House Senior Director for Energy and Climate Change at the National Security Council was the Chief of Staff and Chief Operating Officer at the Overseas Private Investment Corporation (OPIC) (now the U.S. Development Finance Corporation). His work has focused on expediting the transition to a low carbon economy, and he has been at the forefront of designing and structuring some of the most innovative platforms and investment vehicles to mobilize private capital flows into fast-growing global markets.



  • Shirmila-R
    Shirmila Ramasamy (Moderator)
    Senior Counsel, World Bank

    Shirmila Ramasamy is Senior Counsel at the World Bank’s Legal Vice Presidency and a capital markets lawyer who works on innovative financing mechanisms for targeted development priorities. She has been with the World Bank since 2008 and is part of the team responsible for the design and structuring of the International Finance Facility for Immunisation (IFFI), the Advance Market Commitments (AMC), the Pilot Auction Facility for Climate Mitigation (PAF) and other financing initiatives. Ms. Ramasamy advises on capital markets instruments pioneered by the World Bank, including the Wildlife Conservation Bond and is the lead lawyer for the international Development Association. Prior to joining the World Bank, she had worked in London, New York and Singapore—managing cross-border structured finance transactions as Managing Associate at Linklaters LLP.


  • WHEN: November 14, 2023, 1:00-2:30 p.m. ET
  • WHERE: Preston Auditorium, World Bank Group Headquarters, Washington, D.C.
  • SOCIAL MEDIA: #LJDWeek2023