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Virtual Industry Transition Day – Accelerating the race to Net-Zero

 

Session Description:
As of April 2020, 96% of sizeable fiscal measures implemented by G20 nations in response to COVID-19 were estimated to maintain “business as usual” or to increase net GHG emissions, while only 4% were green policies with the potential to reduce GHG emissions in the long term. A green recovery will lead to job creation, greater security, and a more resilient society equipped to deal with future climate shocks. How can policy makers shift from COVID-19 rescue measures to green recovery? And what types of recovery packages are needed to accelerate the industry transition with co-benefits for people and the planet?

Objective:
To identify the stimulus policies and recovery packages needed for energy-intensive industries to build back a greener, smarter, and fairer society in the aftermath of COVID-19.

Context: 
Industry sector emissions, including those from energy-intensive industrial sectors like steel, cement, aluminium, aviation and shipping are expected to be responsible for 15.7Gt by 2050, therefore if the world is to meet the Paris climate agreement objective of limiting global warming to well below 2°C , it will have to reduce greenhouse gas emissions from the energy and industrial system to net zero across the world by 2050. In the aftermath of COVID-19, public and private stakeholders must leverage The Great Reset to advance green stimulus policies that accelerate the industry transition. A climate friendly recovery will foster a job creation, resilience, more financial security and a fairer society.

Format
60 minutes virtual high-level panel with interactive Q&As. The session will be live streamed on the World Economic Forum website and some of its social media channels (TBC). Media are invited to attend.

Moderated by Katherine Garrett-Cox, Chief Executive Officer, Gulf International Bank (UK), United Kingdom; and Chair, Clean Air Fund

Panellists
Brian T. Moynihan, Chairman and Chief Executive Officer, Bank of America, USA; Chair of the World Economic Forum International Business Council; International Business Council (Invited)
Laurence Tubiana , Chief Executive Officer, European Climate Foundation
Lord Nicholas Stern, Chair, Grantham Research Institute on Climate Change and the Environment, United Kingdom
Theresia Vogel, Chief Executive Officer, Austrian Climate and Energy Fund

Closing Remarks by
Eva Svedling, State Secretary for Climate Policy and Agenda 2030 of Sweden
Lord Greg Barker of Battle, Executive Chairman of the Board of Directors, En+ Group

Pressekontakt

Klima- und Energiefonds

Mag. Katja Hoyer
Gumpendorfer Straße 5/22
1060 Wien
Tel. (+43 1) 585 03 90-23

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