Last week, a gathering of esteemed figures in the field of climate finance took place at the New York Stock Exchange’s 7th floor. The ICE Climate and Capital Conference, sponsored by FinTech.TV and Gitterman Asset Management, brought together experts to discuss the pressing issues of our time.
The conference was structured around three pillars: Adaptation, Innovation, and Regulation, aptly abbreviated as “AIR”. These pillars are crucial in shaping our response to the complex challenges posed by climate change, biodiversity loss, human migration, and ever-changing regulatory frameworks.
Jeff Gitterman, from Gitterman Asset Management, opened the conference by introducing a series of panels and discussions with prominent figures in the field. The objective was clear and urgent: to provide attendees with strategies to both mitigate risk and drive innovation. The focus was on finding innovative solutions to reduce emissions and protect the most vulnerable communities from the impacts of climate change.
Among the speakers, three stood out, each shedding light on a different aspect of the path forward. Lisa Larroque Alexander, representing SEMPRA, shared insights on the financing aspect of climate action. As a major issuer of sustainable debt, SEMPRA has a deep understanding of capital costs. Alexander emphasized the importance of methane mitigation, which she expects to be a central topic at the upcoming COP28 conference. Quoting Churchill, she highlighted the need to strategize when resources are limited. She also expressed interest in exploring the potential use of carbon credits after the implementation of the Inflation Reduction Act (IRA). With the International Energy Agency projecting a staggering $10 trillion investment in grid enhancements in the coming years, it is clear that innovation is essential for progress.
Hanh Nguyen, from OCI Global, shared her vision for a carbon economy that has been recalibrated. She sees the Carbon Model Adjustment Mechanism as a pivotal catalyst, similar to the EU’s carbon tax. Nguyen strongly believes in the potential of the hydrogen economy, with green methanol expected to dominate until 2030, followed by zero-emission e-ammonia taking the lead by 2050.
Lesley Biddle, a senior advisor at the U.S. Department of Energy, provided insights into the tools available to drive decarbonization. The Infrastructure Bill, with its combination of debt and equity, along with the provisions of credits and grants in the Inflation Reduction Act, allocates an impressive $90 billion for deployment by summer 2024. Biddle hinted at an accelerated rollout of “Hydrogen Hubs” and emphasized the need for enhanced hydrogen storage and capture.
As the ICE Climate and Capital Conference came to a close, it became clear that the triad of Adaptation, Innovation, and Regulation will not only guide our responses to climate challenges but also drive them. There is a significant amount of funding available to companies and entrepreneurs willing to tackle and solve these challenges. It is not just about addressing known issues but also about anticipating the unknown, developing real-time strategies, and creating a world where vulnerabilities are minimized and resilience is prioritized.
To watch the conference, click here: [link]