President Hoyer calls for immediate and swift action towards a “net-zero” emissions economy

The European Investment Bank and WWF hosted a conference in the margins of the 2021 virtual Spring Meetings of the World Bank Group and the International Monetary Fund to discuss how to enhance financing for the sustainable blue economy. The event focused on the Sustainable Blue Economy Finance Principles and newly launched supporting guidance Turning the tide: how to finance a sustainable ocean recovery which provide a practical toolkit for financial institutions to lead a sustainable ocean recovery.

President Hoyer joined Ministers of Finance and leaders of international finance institutions, central banks and other key stakeholders at the April 2021 minister-level meeting of the Coalition of Finance Ministers for Climate Action, on the margins of the Spring Meetings of the World Bank Group and the International Monetary Fund. Speaking live in a session on the roles of ministries of finance and central banks in coordinating climate risk management, President Hoyer discussed lessons learned to identify and manage climate-related financial risks as well as opportunities and approaches for effective climate and nature-related financial risk management.

Organised by the European Commission and the European Investment Bank in cooperation with Project Syndicate, the event put EU climate leadership in the spotlight. It brought together international climate leaders and policy experts on how global climate action, climate policy, international cooperation, and financial innovation can be accelerated and enhanced for an adequate response to the climate emergency.