Macquarie Group and the Global Center on Adaptation proudly co-hosted former United Nations Secretary-General Ban Ki-moon and the UK Environment Agency‘s Emma Howard Boyd at a climate adaptation event for clients this week during United Nations Climate Week.

The UN Climate Action Summit brought world leaders together in New York to address the impacts of climate change. Former UN Secretary-General Ban Ki-moon and Macquarie Group CEO Shemara Wikramanayake joined the Summit alongside their peer Commissioners on the Global Commission on Adaptation (GCA).

New York, 25 Sep 2019

During the UN Climate Action Summit in New York, Macquarie Group  joined other public and private organisations to launch two landmark reports, on the low carbon transition and on climate adaptation, and announced a series of new commitments.

• Macquarie plans to develop a 20 GW pipeline of renewable energy projects, including 4 GW in emerging markets;
• Financial close approaching on a $A1 billion agriculture fund targeting improvements in on-farm energy efficiency and reducing carbon emissions; and
• Plans to extend energy and green impact reporting on assets and projects, globally.

Supporting global initiatives

The Climate Finance Leadership Initiative (CFLI) was established in January 2019 by Michael Bloomberg, the UN Secretary General’s Special Envoy for Climate Action, bringing together the Chief Executives of Allianz, Axa, Enel, HSBC, Goldman Sachs and Macquarie with the CIO of Japan’s Government Pension Investment Fund (GPIF), to consider how to mobilize and scale private capital for climate solutions. CFLI members contributed to the report and made a series of group commitments, including a collective commitment to deploy $US20 billion of emerging market climate finance by 2025, and a new partnership to work more closely with publicly funded development finance institutions.

The Global Commission on Adaptation (GCA) was established by Ban Ki-moon, 8th Secretary-General of the United Nations, Bill Gates and Kristalina Georgieva, CEO, World Bank and is guided by over 30 commissioners from OECD and non-OECD governments and the private sector, including Macquarie CEO Shemara Wikramanayake. Its focus is on helping investors, government officials and other stakeholders gain a better understanding of the current and future resilience challenges and accelerating climate adaptation action in areas such as infrastructure, agriculture and supply chains.

Macquarie has drawn on its experience as a world leader in green finance and infrastructure, and its growing role as a developer of renewable energy projects, to support these two global initiatives.

The GCA recently released its report aimed at finding solutions to build climate resilience and adaptation. Read the report to learn more about Macquarie’s insights and expertise in financing adaptation and the investments required in resilient infrastructure.

News update originally published on the Macquarie website.