San Giorgio Group 7th Annual Meeting Summary

The report outlines key barriers and opportunities in scaling climate finance, emphasizing the need for development finance institutions (DFIs) to increase risk appetite and for the financial system to shift from risk disclosure to incentive-driven action. It highlights the importance of blended finance, sustainable land use, and urban infrastructure frameworks to achieve net-zero emissions by midcentury.

• The green finance sector remains 'relatively boutique' due to silos within the donor community, a lack of risk appetite among donor finance, and public finance processes that are too slow to effectively partner with the private sector.
• To align financial flows with the Paris Agreement, development finance institutions (DFIs) must prioritize recipient country needs, increase their risk appetite to crowd in private finance, and implement 'do no harm' KPIs for projects that conflict with Paris goals but align with national economic priorities.
• Investment in climate adaptation and resilience is critically insufficient and slow; there is an urgent need to better price climate risks to avoid the misallocation of capital and threats to financial stability.
• Sustainable land use finance lacks a sufficient investable pipeline and sophisticated blending of public and private funds, though examples like the EUR 120m Natural Capital Financing Facility in Europe and the Responsible Commodities Facility in Brazil show commercial viability.
• Blended finance is a key tool for mobilizing private capital, with a global stock of approximately USD 48bn over recent years, but it requires a shift from project-by-project transactions toward larger 'megadeals' and better geographic reach, particularly in Africa.
• Cities face a significant gap between climate ambition and investment, as many emerging market cities depend on central governments for over 80% of revenues and lack the financial instruments to execute climate preparations.
• Climate risk disclosure is evolving through frameworks like the French Article 173 and TCFD, but there is a need to move from simple risk reporting to creating incentives that drive capital allocation toward a green transition.

APA

Climate Policy Initiative (2019). San Giorgio Group 7th Annual Meeting Summary. https://www.climatepolicyinitiative.org/wp-content/uploads/2024/04/Seventh-Annual-San-Giorgio-Group-Meeting-Summary.pdf

Chicago

Climate Policy Initiative. San Giorgio Group 7th Annual Meeting Summary. 2019. https://www.climatepolicyinitiative.org/wp-content/uploads/2024/04/Seventh-Annual-San-Giorgio-Group-Meeting-Summary.pdf.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=San Giorgio Group 7th Annual Meeting Summary |date=May 2019 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2024/04/Seventh-Annual-San-Giorgio-Group-Meeting-Summary.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2019san, author = {{Climate Policy Initiative}}, title = {{San Giorgio Group 7th Annual Meeting Summary}}, institution = {Climate Policy Initiative}, year = {2019}, month = may, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2024/04/Seventh-Annual-San-Giorgio-Group-Meeting-Summary.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }