International Conference
Is the International Monetary and Financial System Fit for the Financing of the Ecological Transition?
28 March 2023 - from 9h30
Organizers : Robert Triffin International (RTI), UCLouvain, Fonds Gutt ULB
Location : Louvain-la-Neuve (Louvain House Auditorium)
Date : Tuesday 28 March 2023
The financing of the huge investments required to achieve the ecological transition, addressing the increasing threats from climate change and loss of biodiversity, is inextricably linked to the state of International Monetary System. The Paris Agreement explicitly calls for “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” How the International Monetary and Financial System can best support and facilitate the financing of the ecological transition is the main topic of this event.
PROGRAMME
9h30 : Introductory Statements of the partners organizing the conference
9h45: Lord Stern’s video message
A time for action on ecological transition and a time for change in economics – Lord Nicholas Stern (Grantham Research Institute on Climate Change and the Environment)
10h: Panel 1 – Financing of the ecological transition in the context of the Global Financial Cycle, multiple crises and systemic challenges
Moderator : Fabio Masini ( University of Roma Tre)
Participants:
Christian Ghymers (RTI),
Tina Emambakhsh (European Central Bank)
György Szapary (National Bank of Hungary)
11h: Coffee Break
11h15 : De Larosière’s video message
Putting an end to the financial illusion as a condition for the financing of the ecological transition – Jacques de Larosière (Former Managing Director of IMF)
11h30: Panel 2 – The environmental emergency and the entry into the digital age : a twofold challenge for societies and central banks
Moderator : Michel Vanden Abeele (Gutt Fund, Free University of Brussels) (tbc)
Participants:
Michel Aglietta (University of Paris X-Nanterre)
Clément Fontan (UCLouvain)
12h15: The role of Multilateral Development Banks (MDBs) in the financing of the ecological transition – René Karsenti (former Treasurer of EIB, Member of G20 Group of Experts on MDBs)
12h45: Jean-Paul Servais (Belgian Financial Services and Markets Authority) (tbc)
13h: Buffet Lunch
14h: Panel 3 – The greening of the financial system
Moderator : Dr. Gusztav Bager (National Bank of Hungary and Pazmani Peter Catholic University)
Participants:
David Aikman (King’s Business School)
Sjoerd van der Zwaag (De Nederlansche Bank)
Jens van ‘t Klooster (University of Amsterdam)
15h: Panel 4 – The financing of the ecological transition in (mostly highly indebted) emerging and developing countries : why systemic change is needed
Participants:
Mattia Romani (Systemic Earth)
Marc Uzan, (Reinventing Bretton Woods Committee)
15h45: Coffee Break
16h: Keynote Address
Jean-Paul Servais (Belgian Financial Services and Markets Authority)
16h15: Public Finances and Climate Change – Lucrezia Reichlin (London Business School)
16h55: Zoom intervention : Bertrand Badré (“Blue like an Orange Sustainable Capital“ Fund)
17h05: Closing remarks – Bernard Snoy (RTI).
