Bloomberg To Host Transition Finance Action Forum on September 19 in New York City
The Forum will convene leaders across public and private sectors during New York Climate Week and the 78th Session of the UN General Assembly to accelerate further action in support of the transition to a net-zero global economy
Originally published on bloomberg.org
NEW YORK, August 24, 2023 /3BL/ - Bloomberg announced it will host the Bloomberg Transition Finance Action Forum on September 19, 2023, in New York City. The Forum will bring together leaders across the private and public sectors to recognize progress made on transition finance and accelerate further action in support of a global net-zero economic transition.
Occurring alongside New York Climate Week and the UN General Assembly, the Forum will provide an opportunity for leaders across international climate finance to assess and outline progress that must be made ahead of COP28. The Forum will follow the second Earthshot Prize Innovation Summit co-hosted by the Earthshot Prize and Bloomberg Philanthropies.
“Investment in clean energy reached record high levels this year, but it’s still not happening fast enough,” said Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, the UN Secretary-General’s Special Envoy on Climate Ambition and Solutions and Co-Chair of the Glasgow Financial Alliance for Net Zero (GFANZ). “By knocking down barriers that stand in the way of investment, we can spread the economic and health benefits of clean energy and gain ground in the battle against climate change. With leaders from around the world in New York City for the UN General Assembly and Climate Week, this forum will seize the moment to encourage new public-private partnerships, spur innovation, and build momentum in the lead up to COP28 in November.”
Meeting the goal of the Paris Agreement to limit global warming requires the global economy to transition to net-zero – an undertaking that requires immediate, decisive, and collaborative action across governments, financial institutions, companies, and other stakeholders.
“The international community must deliver on the net-zero transition this decade to meet our goals,” said Mark Carney, the UN Special Envoy for Climate Action and Finance and Co-Chair of GFANZ. “It is imperative that we maintain a sense of urgency as we convene to identify silos, develop innovative financing structures and partnerships, and work to unlock catalytic transition finance from the public and private sectors.”
“The strength of our economy and financial system relies heavily on public and private sector action to address climate change and embrace the opportunities of the net-zero transition,” said Mary Schapiro, Vice Chair for Global Public Policy of Bloomberg and Vice Chair of GFANZ. “The Forum presents an opportunity to reflect on the progress we have achieved as a global community and evaluate the work needed to mainstream transition planning, mobilize capital to emerging markets and adopt supportive policies that will enable the transition to net zero and help us reach our climate goals.”
The event will be held from 3:30pm ET at The Plaza Hotel in New York City. Media interested in attending the Transition Finance Action Forum can submit their request HERE.
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About Bloomberg Philanthropies:
Bloomberg Philanthropies invests in 700 cities and 150 countries around the world to ensure better, longer lives for the greatest number of people. The organization focuses on five key areas for creating lasting change: the Arts, Education, Environment, Government Innovation, and Public Health. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg’s giving, including his foundation, corporate, and personal philanthropy as well as Bloomberg Associates, a pro bono consultancy that works in cities around the world. In 2022, Bloomberg Philanthropies distributed US$ 1.7 billion. For more information, please visit bloomberg.org, sign up for our newsletter, or follow us on Facebook, Instagram, YouTube, Twitter, and LinkedIn.