Today (8 May), the Sustainable Markets Initiative, an organisation founded by HM King Charles III, when he was The Prince of Wales, has announced a strategic partnership with the Corporation, to host the 3rd Net Zero Delivery Summit (NZDS) at the Mansion House in London on 4 June and live streamed to a global online audience. The event will be sponsored by EY and LIIBA.
In a year when more people around the world are voting in elections than at any other time in history, the international summit aims to focus attention on turning commitments made at previous COPs into action ahead of COP29.
The summit, delivered at the halfway milestone between COP28 in the United Arab Emirates and COP29 in Azerbaijan, will put the need for innovative approaches and products for achieving net zero at the heart of its agenda. It will focus on:
- Maintaining momentum in the private sector to deliver on key commitments made at COP28 including transitioning away from fossil fuels, the tripling of renewable energy capacity and the scaling of green technologies such as carbon capture and storage;
- Discussing the critical role of the financial and professional service sector in helping the wider economy achieve net zero;
- Securing the UK’s position as a one-stop shop for green finance expertise
Hosted by the Lord Mayor of London, Michael Mainelli, with participation by the UK government and high-level international stakeholders, the summit will feature a series of keynote speeches, fireside chats and panels discussing:
- Green technology – The critical role of new digital technologies in reaching net zero as well as research and development, and ultimately growth in the application of emerging green technologies to support the decarbonisation of the wider economy.
- Transition Finance in Practice – Progressing the conversation on how the decarbonisation of higher emitting companies and activities will be financed.
- Carbon Markets – Raising the ambition of high-integrity carbon markets, including the development of the market for carbon dioxide removals.
- Nature Finance – Highlighting the business case for investing in nature and the imperative of aligning finance with nature and biodiversity goals.
Speakers include: Michael Mainelli, Lord Mayor of London, Chris Skidmore OBE, Chair Mission Zero Coalition; The Rt Hon Patricia Scotland KC, Secretary-General of the Commonwealth; Vanessa Havard-Williams, Chair of the Transition Finance Market Review, Sacha Sadan, Director of ESG at FCA, Chris Hayward, Policy Chairman of the Corporation; Nigel Topping, Founder of Ambition Loop; Sabine Mauderer, Chair of the Network for Greening the Financial System; Jennifer Jordan-Saifi, CEO of Sustainable Markets Initiative.
Lord Mayor of London, Professor Michael Mainelli said:
“At a time when more people around the world are heading to the ballot box than ever before this summit is essential in helping to ensure that the climate doesn’t fall off the agenda.
“I’m delighted to have the Sustainable Markets Initiative, EY and LIIBA join us, as we showcase the serious commitment from across the financial and professional services sector. This commitment is essential in maintaining the momentum of previous COPs ahead of COP29 and in helping to unlock the vast finance needed for the global transition to net zero.”
Policy Chairman of the Corporation, Chris Hayward said:
“London is a critical global hub for sustainable finance, that’s why we are delighted to be working alongside the Sustainable Markets Initiative, EY and LIIBA to host this summit.
“The summit will bring together senior international policymakers, experts and Ministers to discuss how the financial and professional sector is supporting net zero delivery across the wider economy, how finance is being effectively mobilised to support the net zero transition in emerging markets and how to build climate resilience in developing countries and secure a just transition to net zero.”
Gill Lofts, EY Global Sustainable Finance Leader, said: “The Net Zero Delivery Summit marks an important milestone for the UK financial and professional services industry this year. Firms across the UK are looking to deliver on their sustainability and decarbonisation commitments. The summit will host vital discussions that should prompt new, innovative ideas and approaches to come to the fore and help firms to reach their sustainability goals. EY is proud to be sponsoring this important event.”
Jennifer Jordan-Saifi, CEO of the Sustainable Markets Initiative said: “The Sustainable Markets Initiative is delighted to be a strategic partner for this year’s Net Zero Delivery Summit. As we pursue a genuinely sustainable future and as we seize the growth of story of our time, it is critical that we continue to accelerate the transition to net zero across every industry. This requires a long-term view, a focus on the benefits the transition will afford and an unwavering commitment from private sector and public sector leaders to stay the course.”
Christopher Croft, LIIBA Chief Executive, said: “LIIBA is delighted to be sponsoring Net Zero Delivery Summit alongside SMI, Corporation and EY. Our involvement will ensure that the crucial role insurance must play in achieving Net Zero is brought to the fore. The insurance industry helps build resilient and sustainable operations for our clients; we help them transition to new sources of energy; we provide the protection that allows green finance to flow; and we support the development of new technologies and their rapid advancement into commercial use. Insurance is the catalyst of progress across the global economy. It is a vital tool in meeting the climate challenge.
ENDS
Notes to editors
About the Corporation
The Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK.
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
About LIIBA
London & International Insurance Brokers’ Association (LIIBA) is the trade association representing the interests of Lloyd’s insurance and reinsurance brokers operating in the London and international markets. We have the support of the vast majority of Lloyd’s Brokers, accounting for over 95% of the Market’s business.
Our members are engaged in the placement of $67bn of premiums in the London Market and another $24bn across the world. Collectively they contribute to the Market’s 26% share of The City’s GDP or 10% of London’s GDP (2015).
About SMI
Founded by His Majesty King Charles III in 2020, as the Prince of Wales, the Sustainable Markets Initiative has become the world’s ‘go-to’ private sector organisation on transition. Launched in 2021, the Terra Carta serves as the Sustainable Markets Initiative’s mandate with a focus on accelerating positive results for Nature, People and Planet through real economy action. Find out more: www.sustainable-markets.org.
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