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PPCA Summit: Transitioning Financial Flows from Coal to Clean Energy

Coal mine

During this PPCA Summit session, you will hear from leading financial institutions, including new PPCA members, on how to successfully move away from investing in coal.

Context

More and more financial institutions recognize the business case for moving away from coal. With renewable energy increasingly more economical than coal, continued investments in coal power pose the risk to investors of being left with cumbersome, costly and polluting assets on the books.

Despite this positive trend a significant amount of investment, from private and public sources, is still being made in unabated coal power around the world. This situation poses a substantial transition risk for the financial sector.

Through the PPCA Finance Taskforce, underpinned by the PPCA Finance Principles, finance and government members and partners of the PPCA are working together to cease new investments in coal-fired power, phase out existing coal capacity and boost investments in clean energy.

Session description

During this PPCA Summit session, senior-level experts from the financial sector will emphasize the importance of phasing out coal investments and explain how firms can implement such commitments, aiming to mobilize the finance sector to take necessary action on coal phase-out in the lead up to COP26.

Speakers will identify key challenges and best practices in implementing coal policies internally and in engaging in advocacy among companies. They will also outline opportunities for financial institutions to improve methods to measure whether their corporate lending portfolios are aligned with climate scenarios that focus on phasing out coal investments. They will also touch upon the need to ensure effective coal disengagement at the marketplace level, through a common minimum approach amongst financial market participants, support and evaluation by supervisors and relevant scientific input.

Agenda & Speakers

  • 5 min: Opening remarks by Marcel Beukeboom, Climate Envoy, Kingdom of the Netherlands
  • 20 min: Panel discussion: Implementation and Engagement of Coal Exit Policies
    • Gildas Poissonnier, Director of Sustainability and Responsible Finance, Desjardins
    • Cristina Cedillo Torres, Engagement Specialist, Robeco
    • Maarten Vleeschhouwer, Head of PACTA, 2° Investing Initiative
    • Sylvain Vanston, Group Head of Climate & Environment, AXA Group
  • 25 min: Moderated Q&A

For more information, please visit the PPCA website.

03.03.21
Online
Host

Powering Past Coal Alliance (PPCA)

Speakers

Marcel Beukeboom (Netherlands), Gildas Poissonnier (Desjardins), Cristina Cedillo Torres (Robeco), Maarten Vleeschhouwer (2DII), Sylvain Vanston (AXA)


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Context

More and more financial institutions recognize the business case for moving away from coal. With renewable energy increasingly more economical than coal, continued investments in coal power pose the risk to investors of being left with cumbersome, costly and polluting assets on the books.

Despite this positive trend a significant amount of investment, from private and public sources, is still being made in unabated coal power around the world. This situation poses a substantial transition risk for the financial sector.

Through the PPCA Finance Taskforce, underpinned by the PPCA Finance Principles, finance and government members and partners of the PPCA are working together to cease new investments in coal-fired power, phase out existing coal capacity and boost investments in clean energy.

Session description

During this PPCA Summit session, senior-level experts from the financial sector will emphasize the importance of phasing out coal investments and explain how firms can implement such commitments, aiming to mobilize the finance sector to take necessary action on coal phase-out in the lead up to COP26.

Speakers will identify key challenges and best practices in implementing coal policies internally and in engaging in advocacy among companies. They will also outline opportunities for financial institutions to improve methods to measure whether their corporate lending portfolios are aligned with climate scenarios that focus on phasing out coal investments. They will also touch upon the need to ensure effective coal disengagement at the marketplace level, through a common minimum approach amongst financial market participants, support and evaluation by supervisors and relevant scientific input.

Agenda & Speakers

  • 5 min: Opening remarks by Marcel Beukeboom, Climate Envoy, Kingdom of the Netherlands
  • 20 min: Panel discussion: Implementation and Engagement of Coal Exit Policies
    • Gildas Poissonnier, Director of Sustainability and Responsible Finance, Desjardins
    • Cristina Cedillo Torres, Engagement Specialist, Robeco
    • Maarten Vleeschhouwer, Head of PACTA, 2° Investing Initiative
    • Sylvain Vanston, Group Head of Climate & Environment, AXA Group
  • 25 min: Moderated Q&A

For more information, please visit the PPCA website.

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© The 2° Investing Initiative

2DII today announced it is transferring stewardship of the Paris Agreement Capital Transition Assessment (PACTA) to RMI, formerly Rocky Mountain Institute. PACTA measures financial portfolios' alignment with various climate scenarios, including those consistent with the Paris Agreement. Under RMI’s stewardship, PACTA will remain a free, independent, open-source methodology and tool, and will continue to provide the financial and supervisory community with forward-looking, science-based scenario analysis to help users make climate-aligned financing decisions. RMI will invest in scaling up PACTA’s usability and applicability in day-to-day investment decisions as well as reporting requirements.

Access the full press release here: https://2degrees-investing.org/2-investing-initiative-transfers-stewardship-of-pacta-to-rmi/In the coming weeks, we will update this website with additional information. For now, please note that all contact information remains unchanged.