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🌍 African Climate Summit 2023 - A Pivotal Moment for Global Climate Action 🌿

Thrilled to be in Nairobi for . This summit isn't just an event; it's a global call to action. As we face the escalating climate crisis, Africa stands at the frontline, ready to lead and inspire.

🔹 Key Themes:
Climate Adaptation: Focusing on resilient agriculture and sustainable urban planning.
Renewable Energy: Accelerating the adoption of clean energy sources.
Biodiversity Conservation: Protecting our rich ecosystems.
Younger Gen Engagement: Advocating for sustainable policies and change.

🔸 Highlights:
Collaboration: Forging global partnerships for collective action.
Policy Commitments: Announcing initiatives for a greener future.
Innovation Showcase: Spotlighting cutting-edge solutions.
Local Voices: Elevating indigenous experiences and wisdom.
Africa is more than ready to lead the charge in climate action. Let's build a sustainable future, not just for Africa but for the world. 🌱

Learn more - https://africaclimatesummit.org/about

Speakers - https://africaclimatesummit.org/speakers

In 2023, governments' support and financial incentives for green technology will spur sustainable innovations' development and widespread adoption. Companies are expected to shift towards more environmentally friendly practices as a result. One example of this is Electra, a startup company that has developed a method for producing carbon-free iron at low temperatures. They are planning to construct a facility to demonstrate the financial feasibility of their technology. As a result of this tight timeline and additional pressure, more breakthroughs in climate technology and more startups becoming established companies is likely to occur.

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Grant From Bill Gates-led Fund Will Make Green Jet Fuel As Cheap As Fossil Fuels A $50 million grant will allow LanzaJet to build first-of-a-kind plant and sell sustainable aviation fuel at affordable prices.

⚠️Moody's have released a new report which highlights how ESG risks will impact corporate and sovereign credit quality in 2023
4️⃣Four key ESG-related trends identified that will impact credit quality: greater scrutiny of decarbonization plans, elevated social risks, greater refinancing risk for lower-rated issuers, and an increasingly complex regulatory and political landscape
🛢️Sectors such as oil and gas, mining and agriculture, highly exposed to carbon transition risks, will face increasing costs of capital
🤷Social risks will stem from issues affecting access and affordability of basic services such as high energy and food costs
🪑Lower-rated entities will face higher liquidity and refinancing risks and reputational risks for companies from an increasingly complex policy and political landscape
🌍ESG trends to watch include enhanced understanding of financial costs of physical climate risks, circular economy practices, and natural capital and biodiversity issues.

Moody’s ESG / Insights & Analysis Dive into our latest insights and analysis on the key trends shaping ESG, climate and sustainable finance globally.