The 2018 Climate Innovation Summit, Europe’s leading event on climate innovation, will be held in the emerging green business hub of Dublin this November with a focus on the finance needed to accelerate climate action, it was announced today.

Organised by EIT Climate-KIC, Europe’s climate innovation body funded by the European Institute of Innovation and Technology, the summit coincides with Ireland’s 2018 Year of Sustainable Business, and is developed in partnership with Sustainable Nation Ireland, supported by Ireland’s Department of Finance.

Paschal Donohoe TD, Minister for Finance, Public Expenditure and Reform, will open the event, convening over 600 decision makers from across Ireland and Europe.

Held at Dublin Castle, the summit will convene policy makers, financiers, scientists, climate experts, business leaders, entrepreneurs and academics to advance the innovation in finance, investment flows and accounting needed to decarbonise transport, buildings, and food production – and put Europe on track to meet its climate goals.

Sustainable finance is gathering momentum, with efforts focused on moving it into the mainstream. In March 2018, the European Commission unveiled its action plan on sustainable finance with a roadmap to help the EU drive the estimated €180bn of investment needed every year to cut greenhouse gas emissions by 40 per cent by 2030.

Since 2010, EIT Climate-KIC and its 280 Partners have leveraged €2.5 billion worth of climate action, harnessing innovation opportunities through more than 150 cross-sector, cross-border partner projects. Over 1000 innovative start-ups have been created in Climate-KIC programmes, attracting €450 million of investment.

In Ireland, more than 370 Irish SMEs are now active in the climate-aligned innovation space employing over 4,000 people and the sector is growing.

Minister Donohoe, said: “Underlining Ireland’s commitment to this vital agenda, I am delighted that Europe’s Climate-KIC has chosen Ireland as the venue for this important gathering. Climate change is one of the most crucial issues facing the world today.

“Our recently launched 10-year National Development Plan and the €22 billion within it that is allocated to climate change measures, along with the leadership and innovation shown in this area by Irish-businesses, highlights that commitment and charts a pathway to dealing with this vital issue. The 2018 Climate Innovation Summit is an important step on that journey.”

Climate-KIC chief executive, Kirsten Dunlop said: “Transforming the financial sector so that it can kickstart a zero-carbon economy necessitates not just new relationships with the finance sector, but new business models, new ways of accounting, reporting and understanding social and environmental value. The Climate Innovation Summit in Dublin will be essential in galvanising these currently disparate efforts across Europe to form a united innovation front in the run up to COP24.”

Stephen Nolan, chief executive of Sustainable Nation Ireland, the body mandated in the Government’s IFS 2020 Strategy with promoting Ireland as a hub for sustainable investment, said:

“We are delighted that Climate-KIC have chosen Dublin as the location for their annual summit. The summit theme of sustainable finance innovation really plays to Irish strengths in this area, strengths that have been nurtured by Climate-KIC and have led to Dublin emerging as a leading international sustainable finance hub.”

 

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