ASEAN+3 Macroeconomic Research Office

* All times below refer to Colombia time (GMT-5)

9:00 AM – 9:10 AM

Introductory Remarks

• José Darío Uribe, Executive President, Latin American Reserve Fund – FLAR

9:10 AM – 9:40 AM

Opening Presentation

Charting a Sustainable Future: The role of the IMF and RFAs in Addressing Climate Risks

• Christine Richmond, Deputy Division Chief, Fiscal Affairs Department Climate Policy, International Monetary Fund – IMF

9:40 AM – 11:10 AM

Session 1: Macroeconomic Implications of Climate Change

Chair: Carlos Giraldo, Chief Economist, Latin American Reserve Fund – FLAR

Presenters:

• Christian Upper, Senior Advisor, BIS Representative Office for the Americas, “The energy transition and its macroeconomic effects”
• Iader Giraldo-Salazar, Principal Economic Researcher, Latin American Reserve Fund – FLAR, “Climate Growth at Risk in the Global South”
• Fulvia Marotta, Research Economist, Dutch Central Bank, “Demand or Supply? An empirical exploration of the effects of climate change on the macroeconomy”

Fireside chat:

• Laura B. Fermo, Deputy Group Head, Macro-Financial Research Group, AMRO
• Irene Alvarado, Environmental economist at Banco Central de Costa Rica

Q&A Session

11:10 AM – 11:30 AM

Break

11:30 AM – 1:00 PM

Session 2: Financial System Vulnerabilities and Resilience

Chair: Rolf STRAUCH, Chief Economist, European Stability Mechanism – ESM

Presenters:

• Bernhard Mayr, European Stability Mechanism – ESM, “Broadening the scope of risk sharing through a European backstop for natural catastrophes”
• Laura B. Fermo, Deputy Group Head, Macro-Financial Research Group, AMRO, “Tracking the Progress of Climate Change Initiatives and Transition Finance in ASEAN+3”
• Ricardo Santos, Economist, European Investment Bank, “Climate risks for Latin America and the Caribbean: Are banks ready for the green transition?”

Fireside chat:

• Andrea Villarreal, FLAR
• Swenja Surminski, Managing Director Climate Marsh McLennan and Professor in Practice at the Grantham Research Institute on Climate Change and the Environment – LSE

Q&A Session

1:00 PM – 2:30 PM

Break

2:30 PM – 4:00 PM

Session 3: How will climate change impact public finances and sovereign credit risk?

Chair: Abdurohman, Deputy Director, AMRO

Presenters:

• Caterina Seghini, Macroeconomist and modeler at the Banque de France in the Macroeconomic and Forecasting Division, “Sovereign debt sustainability, the carbon budget and climate damages”
• Óscar Valencia, Principal Specialist- Fiscal Management Division – IADB, “Asymmetric sovereign risk: Implications for climate change preparation”
• Kiryl Lemba, Economist, Research Department, Eurasian Fund for Stabilization and Development – EFSD. “Assessment of the Potential Impact of Natural Hazard Events on Debt Sustainability of Armenia, Kyrgyzstan, and Tajikistan”

Fireside chat:

• Iader Giraldo-Salazar, FLAR
• Sebastian Briozzo, Managing Director, Head of the Sovereign and International Public Finance Ratings Team in Latin America, S&P Global

Q&A Session

4:00 PM – 5:30 PM

Policy Experts Roundtable

Chair: Nicola GIAMMARIOLI, Secretary General and Management Board Member, ESM

Policy experts:

• Kevin Carey, Lead Economist at World Bank Group
• Pekka Moren, Special Representative of the Minister of Finance & Co-chair of the Coalition of Finance Ministers for Climate Action – Finland
• José Antonio Ocampo, Professor at Columbia University, former Minister of Finance, and former member of the Board of Directors of the Central Bank of Colombia

5:30 PM – 5:40 PM

Closing remarks

• Fidel Jaramillo, Secretary General, Latin American Reserve Fund – FLAR