High-level Meeting on: Financial Institutions, Financial Regulations and the Financial Architecture for Africa’s Transformation.

The theme for the African Development Bank’s Annual Meeting on “Africa’s Transformation, the African Development Bank Group, and the Reform of the Global Financial Architecture” presents a strategic opportunity to mobilize financial institutions in the region to play instrumental roles in charting the reforms and regulations for the financial architecture necessary for Africa’s net-zero and climate resilient transformation. This high-level meeting on “Financial Institutions, Financial Regulations and the Financial Architecture for Africa’s Transformation” is intended to do that. The high-level meeting is being jointly organized by Glasgow Financial Alliance for Net Zero (GFANZ) Africa Network, African Financial Alliance on Climate Change (AFAC), UN Climate Change High-Level Champions, the United Nations Environment Programme -Finance Initiative (UNEP-FI) and the International Sustainability Standards Board (ISSB). The key objective of the meeting is to assemble finance ministers, governors/supervisors of national financial regulatory bodies, and leaders of financial institutions in Africa to: <ul> <li>Hear from finance ministers from countries pursuing climate-related risks policies and regulatory frameworks to share experiences, national perspectives and positions underlying such initiatives.</li> <li>Hear the concerns and positions from countries who have not advanced climate risk disclosures and related financial regulations as part of national regulation priority lists.</li> <li>Discuss the opportunities and challenges for pursuing climate-risks disclosures and regulations within the current financial architecture and to develop collaborative regional engagement strategies.</li> <li>Discuss the appropriate global financial architecture that could facilitate significant capital mobilization especially from “green” institutional investors seeking Paris-aligned and transition investment opportunities.</li> <li>Discuss a potential regional framework for climate risk regulation and appropriate financial structure that should support Africa’s net-zero and climate resilient transformation consistent with the Nairobi Declaration on Climate Change and Call to Action.</li> </ul>