SUMMIT ON CLIMATE CHANGE AND GREEN INVESTMENT – 2024 Theme of the Summit:
“Unlocking Private Climate Financing to Up-scale Investment in Low Carbon and Climate Resilient Solutions”
24th to 27th September 2024
Background
The Abel Musumali Foundation in partnership with World Wide Fund for Nature and GEI
Power will host a regional Summit on Climate Change and Green Investment from 24th to
27th September 2024 in Lusaka, Zambia at Mulungushi International Conference, Kenneth Kaunda Wing. The summit shall be a private annual investment event to foster a sustained and innovative climate financing for sustainable development.
The summit is aligned to the commitments made under the Paris Agreement on climate change, to limit global temperature increases to well below 2.0 degrees Celsius with an endeavor to limit them to 1.5 degrees Celsius by 2030 and to mobilize sustainable climate financing from private sources to implement Nationally Determined Contributions (NDCs).
The urgency response to climate crisis requires bold policy action without thinking twice. This current decade is going to be pivotal to securing the future of the planet. To meet the targets enshrined in the Paris Agreement, the world collectively needs to be on course to have cut carbon emissions by almost half by 2030, with the sharpest cuts being made by the largest emitters, reaching net zero emissions by 2050 (IPCC, UN, 2021). On current plans, the UN estimates that we are on track to have reduced emissions by 1% compared to 2010 levels, highlighting the inadequacy in scale of ambition required to match the challenge at hand. Despite being the least carbon emitter at 4.5% Africa is highly affected by climate change. We need to be innovative to mobilize domestic climate finance to invest in technology, capacity building to enhance mitigation and adaptation through green enterprises. Zambia is strategically positioned to utilize its natural resources and add value to critical minerals such as cobalt, copper, manganese and nickel as a mean to mobilize climate financing.
The summit is a unique initiative that will provides a roadmap to ensuring that people’s jobs and well-being are at the center of the transition to a carbon-neutral economy by considering developmental models such as circular economy that are promoted to enhance resource efficiency and sustainability.
The summit will deliberate on circular economy approaches based on three principles, which are largely driven by design; such as eliminate waste and pollution as well as Circulate products and materials and regenerate degraded natural systems.
The theme of the Summit is “Unlocking Private Climate Financing to Up-scale Investment into Low Carbon and Climate Resilient Solutions.”
The theme is premised on actualizing real time investment that supports the green growth pathways to achieve a low carbon and climate resilient economies in emerging markets and developing countries in Sub Saharan Africa. The Summit is first of its kind to be hosted in Zambia and will bring together 500 delegates with over 50% coming from private sector, philanthropy foundations and multilateral development banks (MDB). The aim of the Summit is to address the climate financing gap and mobilize climate capital up-to $100 million for investment into low carbon development technologies, green growth solutions to achieve a green and climate compatible growth in Zambia and the African region.
One of the prime factors for the summit is to support the establishment of a Climate Funding Facility mainly driven by private sector and MDBs to mobilize climate capital for investment into locally driven green enterprises that are at the heart of green jobs for wealth creation.
Locally led enterprise development in the green space can be boosted to catalyze growth and a paradigm shift to achieve decent jobs for sustainable development. The current development trajectory is highly unsustainable throughout its production processes thereby contributing to resource depletion, waste and pollution and leading to irreversible environmental degradation and climate change. Technology and innovation will be at the core of discussions during the summit.
The summit will provide opportunities to small, medium and large enterprises to unlock private investment into bankable nature solutions at incubation stage and those at scale to contribute to accelerating economic growth and poverty reduction in Africa. Furthermore, the summit will interrogate and review existing policies, plans, regulatory frameworks, technological approaches, institutional frameworks, financial and investment procedures that might pose a specific risks and barriers to investment in green space.
Purpose and rationale
Accelerating the financing and implementation of low-carbon & climate-resilient priorities to contribute to the aspirations and objectives of national policies, plans and strategies such as the National Policy on Climate Change, National Adaptation Plan (NAP), Nationally Determined Contributions (NDCs), Eighth National Development Plan (8NDP),
National Irrigation Plan, National Green Growth Strategy, the National Agricultural Policy,
National Livestock Development Policy, Ministry of Agriculture Strategic Plan and Renewable Energy Strategic Action Plan (RESAP). Therefore, the overall vision of this summit is to contribute to the attainment of Zambia’s Vision 2030 and the United Nations Sustainable Development Goals by 2030.
The summit will identify and recommend possible legal reforms to unlock climate financing and will further, support value chains and business models that are eco-friendly to contribute to the implementation of Nationally Determined Contributions (NDCs) and the attainment of the Paris Agreement on climate change. In addition, Zambia’s Green Growth Strategy will be presented at the summit to allow private sector and potential investors to come on board to invest into sectors with possibilities to achieve a green economy.
Throughout the summit, we endeavor to create a conducive environment where groundbreaking and mammoth ideas can flourish, where local entrepreneurs and business entities can showcase their innovations, and investors/funders can find opportunities that align profit with purpose and environmental sustainability. The summit will focus on adaptation and mitigation business models such as clean energy transition, energy transition mineral (ETM) endowments, investing in nature-based solutions, greening local financial institutions, capital for sustaining technologies, and how to strengthen technical collaboration among players.
The summit provides a unique platform to critically understand existing green financial instruments such as green bonds, green loans, green equity, green microfinance, and green insurance. These instruments are fundamental as a regulatory to enhance and support commercial banks to finance projects that contribute positively to environmental sustainability such as renewable energy, green building, sustainable agriculture, green hydrogen or circular economy innovations.
Just Transition
With regards to the notion of a just transition, the United Nations Framework Convention on Climate Change (UNFCCC) deliberations have centered on the International Labour
Organization’s (ILO) “2015 Guidelines for a Just transition” that focuses on a negotiated approach between governments, employers and their organizations as well as workers and their trade unions. It describes it as a process “towards an environmentally sustainable economy, which “needs to be well managed and contribute to the goals of decent work for all, social inclusion and the eradication of poverty”. The Silesia Declaration emanating from COP24 in Katowice, Poland further emphasized the importance of jobs and the social cost of the transition.
The Lusaka summit will high light in detail some key decisions of COP28 including a just transition from fossil fuels to clean sources of energy, accelerating zero- and low-emission technologies, including, renewables such as geo-thermal, solar and green hydrogen.
The main objective
To unlock private climate financing to scale up investment in low carbon and climate resilient projects in emerging markets and developing countries and address country specific risks as well as barriers to investment.
Specific objectives
1. To showcase existing investment possibilities and help mobilize capital finance into eco-friendly and low carbon investment solutions,
2. Addressing the climate financing gap to scale up investment solutions that are climate compatible,
3. To identify and mitigate non-financial barriers such as capacity level, technology, policy, lending rates, incentives and tax administration,
4. To establish a private sector led climate funding facility to attract climate financing and accelerate investment in clean and renewable business models,
5. To incubate and prioritize funding towards bankable nature-based solutions.
Innovative engagement and partnerships
The summit will leverage on already existing innovations, technologies and funding opportunities in the green space. The event gives participating investors access to a pipeline of projects based on database at Zambia Development Agency (ZDA), Ministry of Finance and Planning and Ministry of Green Economy and Environment as well as data from the Zambia chamber of commerce projects with proven sustainable business models. Project developers will have a unique opportunity to start conversations and secure connections for financing successful projects and innovative business models through bilateral meetings, partnerships etc. Participants will gain valuable insights from expert led discussions and dialogues on current investment and financing conditions for low carbon and climate resilient projects.
Key categories of investment:
1. Renewable energy and clean cooking solutions
2. Resilient agriculture, value addition and food security
3. Forestry, timber and carbon markets mechanisms
4. Green financing instruments
5. Circular economy and innovative approaches
6. Health, water and Sanitation
7. Livestock, fisheries and leather
8. Eco – tourism, Wildlife and ecosystem restoration
9. Green mining approaches
10. Green mobility (sustainable transportation system)
Exhibitors
Private companies, development agencies and NGOs will be given the platform to exhibit their innovations, business models, technologies and concept ideas to potential funders and investors. The exhibition will offer a unique platform for direct, meaningful interactions and immersive experiences, effectively showcasing your company’s technology, innovation and brand to your target audience.
Participants and target groups
Local and International: project developers, financiers, research institutions, investors, development cooperation and development banks, commercial banks, businesses and entrepreneurs, private sector, decision makers in government ministries and utility entities. International participants from funding and development entities will be in attendance such as European Union, USAID, United Nations, World Bank, African Development Bank, United Nations Economic Commission for Africa, Rockefeller
Foundation, Mitigation Action Facility, Nordic Development Fund, Climate Investment
Fund, Green Climate Fund, Global Environmental Facility, Africa Adaptation Fund, Africa Enterprise Challenge Fund, etc. A total of 500 participants are expected at the high-level official opening event with the guest of honour being H.E. Hakainde Hichilema, President of the Republic of Zambia.
Format
It will be a 4-day conference with pitch sessions (pipeline projects and investors) where an interface poll will enable project developers to indicate interest in real time, a round table discussion, side events (bilateral and multilateral meetings and exhibitions), networking and digital livestreaming of the main sessions. The first day of the summit is entirely dedicated to empower youth groups to host a Youth Forum on climate change and entrepreneurship. The views and recommendations from the youth forum shall be presented in the main plenary during the official opening day. We intend to partner with ZANACO to upscale the Green Innovation Challenge to support youth participation in green business entrepreneurship.
Expected outcomes
The summit consists of two (2) closely related outputs aimed at addressing financial and non-financial barriers into low carbon and climate resilient investment opportunities, thereby minimizing the risks and achieving a more attractive and acceptable models of investment in the 21st C.
Outcome 1:
Addressing the climate financing gap to catalyzing real time investment in low carbon and climate resilient business solutions. The summit will identify and address existing challenges to support investment in potentially viable innovations.
Outcome 2:
Addressing non-financial barriers such as policy inadequacy and weak regulatory frameworks, technology, transparency, social and environmental assessment and institutional capacities.
Conference outputs
• Private and public contracts and MoUs signed
• Private led climate funding portfolio established and fund host identified
• Strengthened technical collaboration through PPP model
• Enhanced capacity, networking and partnerships
• Strengthened climate commitments and pledges by funding agencies
• Non-financial barriers identified and action plan established to mitigate the risks
Workplan 15th to 30th April 2024 –
✓ Constitute a National Organizing Committee (NOC) and develop TORs
✓ Finalize the concept note, event programme and budget
✓ Organize a 1st meeting for NOC
✓ Establish a conference website with registration links
✓ Identifying of the Event’s venue
1st to 10th May 2024 –
✓ Identify sponsors, exhibitors, funding agencies etc
✓ Identify conference participants (local & international)
✓ Constitute a media team for marketing and publicity of the event
✓ Start making a documentary depicting investment opportunities and the impacts of climate change and the El NINO phenomenon in Zambia and SADC region.
10th to 20th May 2024 –
✓ Undertake an assessment to identify innovations and business models that require capital,
✓ Identify pipeline projects at Zambia Development Agency and IDC
✓ Secure conference venue,
✓ Organize a High-Level meeting with government Ministers, Development and Cooperating Partners, Commercial Banks, IFC, World Bank, United Nations, Bank of Zambia, Immigration Authority, IDC, Presidential Delivery Unit, Zambia Chamber of Commerce, Lusaka Stock Exchange, COMESA, SADC, Foreign Affairs and Ambassadors accredited to Zambia,
✓ Official invitation to H.E. Hakainde Hichilema as guest of Honour,
✓ Three (3) minutes solidarity statement from H.E President Hakainde Hichilema
✓ Identify and invite influential persons as conference champions
✓ Invite the office of the UN Secretary General to send a representative
✓ Invite representation from the UNFCCC Secretariat, AU, AfDB and others
20th May to 30th May 2024
✓ Media brief
✓ Adverts and publicity via media channels
✓ Identify a fund management for a Private Climate Funding Facility led by a financial institution
✓ Interact with Zambian missions abroad to lure potential investors to attend the summit
✓ Meeting with youth and women on Climate Forum as a first event of the main summit
✓ Invitation letters to cooperating partners in Zambia and the region
✓ High level invitations to public and private funding facilities
30th May to 15th June 2024
✓ Start the competition process under the Green Innovation Challenge for young innovators to award winner’s start-up capital at the summit,
✓ Identify sponsors for the Green Innovation Challenge and nominate 10 innovative models for funding
15th June to 30th June 2024
✓ Fully flagged database for all participants, sponsors, funders, speakers and exhibitors
✓ Second high-level meeting of line Ministers, diplomats and multilateral UN agencies, COMESA, SADC, Bank of Zambia, ZCCM-IH etc
✓ Media briefing and networking
1st July to 20th July 2024
✓ Draft IEC materials, (brochures, flayers, booklets, newsletters etc),
✓ Full registry of exhibitors
✓ Exhibition stands procured
✓ Event Magazine
20th July to 30th July 2024
✓ Ministerial statement from Ministry of Green Economy and Environment
✓ Strategic Partners follow up ministerial Cocktail-sponsored by one the stakeholders
✓ Engagement with House of Chiefs
1st August to 10th August 2024
✓ Enhanced publicity and media engagements
✓ Media statement from United Nations and European Union
✓ Constitute a team to attend the UNFCCC / COP29 in Azerbaijan, Baku
Budget
Tentatively the budget will amount to $200,000 A detailed budget is being developed.
Programme
A tentative programme is being developed
For detailed information get in touch with the organizing committee namely
1. Abel Musumali
The Abel Musumali Foundation
Email: musumaliabel@gmail.com
Phone: +260 776 825 414
2. Fungai Musana
WWF Zambia
Email: fmusana@wwfzam.org
Phone: +260 977 877 892
3. Jacqueline Inonge Mpupuni
Outclassing Exquisite Limited
Email: bandainonge1@gmail.com
Phone: +260 974 777199 / 0977 45441
