This session will examine a pivotal but often overlooked corner of global climate governance: what key transnational economic sectors regulated by international organizations are doing and must do to mitigate climate change, and how their actions will shape our climate future.
Public multilateral financial institutions like the World Bank, Asian Development Bank, and the European Bank for Reconstruction and Development are under pressure to change their financing policies and practices to align with the Paris Agreement’s 1.5°C objective.
The International Maritime Organization and the International Civil Aviation Organization, which regulate merchant shipping and civil aviation, have adopted climate policies to reduce emissions from those sectors. All these organizations are independent creatures of international law but are ultimately governed by their member states who are themselves obliged to reduce GHG emissions.
We will discuss what these international organizations are doing to align their finance flows and regulations with 1.5°C, how they can and must increase their climate ambition, and what their Member States’ role and obligations are in the process. Join this panel for a lively and interesting discussion.
