Business programme

Dubai – Baku: From Energy to Finance

06 Jun , 17:00–18:15
The Transition to a Multipolar World Economy
Congress Centre, zone E, conference hall E12

Climate change is currently one of the top issues on the international agenda for negotiations. The environmental essence of climate change is closely interconnected with economics and politics. And whereas in the past such platforms as the UN Framework Convention on Climate Change and the World Meteorological Organization were the primary ones focusing on this issue, now climate change issues are being discussed more and more as part of international economic processes, including at the World Trade Organization, the International Monetary Fund, and the International Labour Organization. The carbon market, which was launched based on the practices of the Kyoto Protocol and aims to reduce greenhouse gas emissions, is actively developing and needs international approaches to be harmonized for the turnover of carbon units to function and be transparent. There have long been discussions about the advisability of taking a unified approach (agreement) to ‘carbon prices’. However, in the modern world, this is extremely difficult to do without international trade, and there is a question of how the carbon regulation introduced by individual countries could affect the international trade chain, stability, and confidence in international trade. One of the key factors in reducing the manmade impact on the climate system is the energy transition. Significant investments are needed and financial flows need to be redistributed for it to be effectively implemented on a global scale. In addition to this tool for mitigating the impact on the global climate system, adaptation measures are also a major priority, particularly for vulnerable developing nations. This will also require the creation of a pool of targeted investment flows. Financial issues are expected to be the main agenda items at the upcoming UN Climate Change Conference in Baku. What is the best way to develop approaches to investing in climate solutions, while balancing the economic component, as well as other equivalent sustainable development goals? Is this even possible? Or would it create an additional burden for the population of developed or developing nations?

Moderator
Sergey Rybakov, General Director, Foundation “Nature and People”

Panellists
Mukhtar Babayev, Minister of Ecology and Natural Resources of the Republic of Azerbaijan
Tatyana Valovaya, Director General, United Nations Office at Geneva
Vuk Jeremic, President, Sixty-Seventh Session of the United Nations General Assembly
Lidia Mikheeva, Secretary, Civic Chamber of the Russian Federation; Chair of the Council (Head), Private Law Research Centre under the President of the Russian Federation named after S.S. Alexeev
Ramon Pichs-Madruga, Vice-Chair, Intergovernmental Panel on Climate Change (IPCC); Director, Senior Researcher, Centre for World Economy Studies (CIEM)
Maksim Reshetnikov, Minister of Economic Development of the Russian Federation
Simon Stiell, Executive Secretary, Secretariat of the United Nations Framework Convention on Climate Change
Elena Shmeleva, Chairman of the Board, Sirius Federal Territory; Head, Talent and Success Foundation

Broadcast