SUSTAINABLE USE – PATHWAYS INTO THE FUTURE
Session 1: 09.00 am – 10.30 am
Innovative Financing mechanisms for SDG implementation in Sri Lanka
Auditorium of the Bandaranaike Center for International Studies (BCIS)
The 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs), adopted in 2015, aim to provide a common, integrated global framework for peace and prosperity for people and the planet, now and into the future. Although the 2030 Agenda presents SDGs independently, it highlights that they are indivisible and emphasizes the importance of understanding and acting upon the complex spatial and temporal interactions that exist between SDGs and the need to ensure that progress made in some sectors or countries does not hinder progress in others.
Sri Lanka’s commitment to achieving the SDGs is explicit in its continued pursuit of national policies and development plans and programmes in alignment with the SDGs. The Government of Sri Lanka and UNDP in Sri Lanka recently announced the launch of the Sri Lanka SDG Investor Map, a market intelligence tool that seeks to direct private capital where Sri Lanka’s SDG priorities, Government policy and market opportunity intersect, as the country seeks to rebuild its economy sustainably, using the SDG framework as its guide.
Innovative financing mechanisms become imperative to synergize the government, private sector, and capital markets to generate the additional resources needed to finance the SDGs. The SDG Investor Map is therefore a timely intervention that would provide interested investors with the required market information relating to potential investment opportunity areas. While there is much to be done, there is a great opportunity for the private sector to integrate sustainability and the SDGs into their investments and businesses to help Sri Lanka build forward better. This coupled with the adoption of the SDG Impact Standards which guides the private sector to manage their impact, will further the country’s ability to build a more resilient future, leaving no one behind.
In partnership with the Sustainable Development Council, the session will focus on the SDG Investor Map and Green Financing Support for SDG implementation in Sri Lanka including an engaging panel discussion with diverse stakeholders.
Session 2: 11.00 am – 12.30 pm
Aligning business action with the Post-2020 Global Biodiversity Framework and 2030 Action Targets
Over the last two years, we have seen significant engagement from 1,100 companies that are advocating for a nature-positive world, and hundreds of leading companies making commitments and applying available tools and data to help implement and deliver the relevant targets included in the Post-2020 Global Biodiversity Framework (GBF). There are more targeted resources on the way to support business implementation, such as the Science Based Targets Network (SBTN) and the Taskforce on Nature-related Financial Disclosures (TNFD).
The Convention on Biological Diversity’s Conference of Parties 15 (COP15) is now set to take place at the headquarters of the Secretariat of the Convention on Biological Diversity (SCBD) in Montreal, Canada from 5 to 17 December 2022. Member states will adopt the Post-2020 (GBF) at COP 15, which will hopefully provide a clear direction and strong signal on the need to halt and reverse nature loss by 2030. Based on Target 15 – Role of business, there has been significant momentum in favor of mandatory requirements for businesses and financial institutions to assess and disclose their impacts and dependencies on nature. The need for business and financial institutions to reduce their negative impacts on nature by at least half and increase positive impacts has also been supported by many countries during the negotiations but will need further discussion in Montreal.
The session will engage with experts from the World Business Council on Sustainable Development (WBCSD), discuss road maps that break down what nature-positive means for business to help companies understand what nature positive means for their sector and break down key actions businesses need to consider to address nature loss. These Roadmaps include guidance on assessing dependencies, measuring impacts and tracking efforts to halt and reverse nature loss across the value chain.
Session 3: 02.00 pm – 04.30 pm
Building Partnerships for Science-based Ecosystem Restoration
Actions that sustain and restore diverse and functioning ecosystems are essential for human safety, health and prosperity. With 2021–2030 declared as the United Nations Decade on Ecosystem Restoration, efforts are scaling up to halt, reverse and prevent future degradation of ecosystems worldwide, including natural, semi-natural, managed, production and urban ecosystems. Sustaining and restoring ecosystems requires public support and leadership from nation-states and civil society, underpinned by sound science, and is driven by the collective action of multiple actors whose actions impact and are impacted by ecosystems. To move the goals of the UN Decade on Ecosystem Restoration forward, this session will demonstrate, show case and address through BSL’s successful public private people’s partnerships – fundamental questions, and present key messages to bring effective and long-term action, providing recommendations on how to build the ecosystem restoration movement.
Be a part of LIFE: Breathing new life into reality.: Beyond five years of restoration in Kanneliya Conservation Forest, Halgahawala, Opatha.
CEO Forum on Climate Financing
Thursday 3rd November 2022: 5.00 – 6.30 pm
Grand Ballroom – Ramada Colombo
Climate finance seeks to support mitigation and adaptation actions that will address climate change. The Convention, the Kyoto Protocol and the Paris Agreement call for financial assistance from Parties with more financial resources to those that are less endowed and more vulnerable. This recognizes that the contribution of countries to climate change and their capacity to prevent it and cope with its consequences vary enormously. Climate finance is needed for mitigation, because large-scale investments are required to significantly reduce emissions. Climate finance is equally important for adaptation, as significant financial resources are needed to adapt to the adverse effects and reduce the impacts of a changing climate.
In accordance with the principle of “common but differentiated responsibility and respective capabilities” set out in the Convention, developed country Parties are to provide financial resources to assist developing country Parties in implementing the objectives of the UNFCCC. The Paris Agreement reaffirms the obligations of developed countries, while for the first time also encouraging voluntary contributions by other Parties. Developed country Parties should also continue to support country-driven strategies, and taking into account the needs and priorities of developing country Parties. Such mobilization of climate finance should represent a progression beyond previous efforts.
It is important for all governments and stakeholders to understand and assess the financial needs of developing countries, as well as to understand how these financial resources can be mobilized. Provision of resources should also aim to achieve a balance between adaptation and mitigation.
Overall, efforts under the Paris Agreement are guided by its aim of making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. Assessing progress in provision and mobilization of support is also part of the global stock take under the Agreement. The Paris Agreement also places emphasis on the transparency and enhanced predictability of financial support.
The proposed policy dialogue will explore the feasibility of promoting Climate Financing and understanding how these financial resources can be mobilized to achieve a balance between adaptation and mitigation.
