Abyd Karmali is Managing Director, Climate Finance at Bank of America Merrill Lynch based in London and is point person for the bank’s new USD 10 billion Catalytic Finance Initiative. Mr Karmali has worked for twenty-five years on climate policy, carbon markets, and new approaches to climate finance. Before joining the financial sector in 2007, he worked in management and policy consulting and had a short stint with the UN Environment Programme’s Paris office. In 2013, Mr. Karmali was selected to serve as one of two inaugural private sector representatives to the Board of the Green Climate Fund and also has advisory roles with the Global Innovation Lab on Climate Finance, the Capital Markets Climate Initiative and the UK Green Investment Bank. He holds an MS in Technology and Policy from the Massachusetts Institute of Technology (MIT).
At GLF Luxembourg 2019, make waves on mainstreaming sustainable finance.
From 28 to 30 November, Luxembourg will host a ground-breaking conference exploring the scope for sustainable finance in a world of new challenges and unprecedented opportunities. Hosted by the Global Landscapes Forum (GLF) and the UN Environment Programme Finance Initiative (UNEP FI), the three-day event will explore advances in sustainable finance, asset management industry breakthroughs in sustainable investment and the evolving role of capital markets in a low-carbon future.LEARN MORE
Over the first two days, the 2nd Regional Roundtable for Europe will be held by UNEP FI, a global partnership between UN Environment and the financial sector. The conference will conclude with GLF Luxembourg 2019: the 4th Investment Case on 30 November. Both events are co-organised by Luxembourg for Finance and hosted by the Luxembourg Government (Ministry of Finance and Ministry of Sustainable Development and Infrastructure).
The events, under the theme of “Breakthroughs in Sustainable Finance”, will delve into the practical implications of key developments such as sustainable insurance, impact-based financing and landscape protection in agribusiness supply chains. It will examine initiatives such as the EU Action Plan on Financing Sustainable Growth, Principles for Responsible Banking, innovation in sustainable insurance, emerging approaches to impact-based financing and scaling up financing for landscape protection and restoration across agribusiness supply chains.
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Christian del Valle
Althelia Climate Fund
Get the full story behind GLF Luxembourg
The world’s largest knowledge-led multi-sectoral platform for integrated land use. Over 200 delegates will connect with top thinkers in government, international firms and land-use experts on the financial frontlines.
GLF Luxembourg attracts people who are tackling the big challenges. Presenters cover topics including shifts in consumer demand, new sectors, technology for production and monitoring value chain activities.
Learn and disseminate simultaneously. Previous GLF events have attracted tens of thousands of viewers to the livestream, and reached tens of millions of people via social media.
"The event has shown us both the policy side – tenure reforms, PES and so on, and the innovative financing needed to mobilise more private sector funding for sustainable landscapes."
Senior Director for the Environment and Natural Resources Global Practice, World Bank
"The big issue is how we create an asset class the traditional financial market can invest in, the way we did it with renewable energies. To move billions we need to start collaborating effectively. To achieve this, each actor needs to understand his role in the financial supply chain."
President and CEO, Calvert Impact Capital
"As a person who works in sustainable land management (SLM), the GLF event gave the opportunity to understand better what investors want from SLM."
Organizations that engage with GLF
What’s on The Agenda?
The conference will specifically focus on practical business cases in the land use domain that work, but which need to be upscaled for more widespread positive impact. It also allows participants to interact with speakers and other delegates in a variety of ways, including by attending a mock Dragons’ Den, meeting other participants in smaller settings through a pop-up World Café or learning about new and emerging funds that are incubated by Luxembourg’s International Climate Finance Accelerator. This knowledge can be used to foster more meaningful and effective investments, avoid and overcome potential risk, and advance global goals toward sustainable financial activities. Conference objectives include:
Tropical deforestation and agricultural production accounts for roughly a quarter of global greenhouse gas emissions. With 2.6 billion people dependent on agriculture for their livelihoods, the shift towards more sustainable production, sourcing and trading is vital.
A growing number of firms – including those united under the Consumer Goods Forum such as Unilever and Nestlé – have made commitments to deforestation-free sourcing of products and raw materials. Despite this positive step, there is a gap between commitment and action.
Finance will also play a critical role, in particular the capacity of public and private finance, sometimes blended, to support new business models and unfamiliar risks. The financial sector lags in recognizing the global environmental threats that unsustainable land use poses.
Identifying financial risks related to unsustainable land use, including asset stranding, debt defaults and reduced returns across of asset classes, including corporate loans, public and private equity and sovereign bonds.
Shifting financial flows to sustainable land use models that are economically viable. Agricultural and financial sector firms must form networks to mirror cross-sectoral transformational shifts towards climate-smart production models.
Public finance is needed to transition toward climate smart land use in the form of junior or subordinate capital, credit guarantees and subsidies. In order to achieve scale, this public investment should be blended with senior capital from commercial investors to mitigate risk.
WAYS TO PARTICIPATE
Connect, learn, share and act on mobilizing capital for landscape restoration and sustainable investment.
Pitch in a mock Dragons’ Den. Host an interactive session or side event. Present a 7-minute solo Landscape Talk. Engage news media with a Launchpad. Book a table for display and presentation space.