(AGENPARL) – ven 13 settembre 2024 G7-IEA Conference
on Ensuring an Orderly
Energy Transition
An event under Italy’s G7 Presidency
Agenda
16 September 2024
Banca d’Italia, Palazzo Koch, Via Nazionale 91 I Rome, Italy
8:30 – 9:00
Registration
09:00 – 10:20
High-level Opening Session
Welcome remarks
Fabio Panetta, Governor, Banca d’Italia
Giancarlo Giorgetti, Minister of Economy and Finance, Italy (remotely)
Mary Burce Warlick, Deputy Executive Director, International Energy Agency
Facilitator
Riccardo Cristadoro, Head, International Relations and Economics Directorate, Banca d’Italia
Panelists
Stephany Griffith-Jones, Vice Governor, Banco Central de Chile
Thomas Östros, Vice President, European Investment Bank
Mary Burce Warlick, Deputy Executive Director, International Energy Agency
Followed by open discussion and Q&A
10:20 – 11:20
Session 1: The macroeconomic impacts of the energy transition
The energy transition generates macroeconomic implications via complex interaction of supply and
demand. Understanding the mechanisms through which the transition affects inflation, growth,
productivity, investment, commodity prices, and the demand of critical minerals is essential for sound
monetary and fiscal policies. The feedback between macroeconomy and the speed of the transition is
also shaped by factors such as the business cycle, monetary and credit conditions, geopolitical
uncertainty and commodity markets fragmentation.
Facilitator
Irene Heemskerk, Head, Climate Change Centre, European Central Bank
Panelists
Florence Jaumotte, Division Chief, International Monetary Fund
Stephen Murchison, Advisor to the Governor, Bank of Canada
Gareth Ramsay, Head of energy transition, BP
James Talbot, Executive Director, International Directorate, Bank of England
Followed by open discussion and Q&A
11:20 – 11:45
Break
G7-IEA Conference on Ensuring an Orderly Energy Transition
16 September 2024 I Banca d’Italia, Palazzo Koch, Via Nazionale 91 I Rome, Italy
11:45 – 12:45
Session 2: Affordability in the energy transition
Affordability is key for the political viability of transitions. Transitions bring multiple benefits but there is a risk
that poorer households, communities, and countries are excluded because they cannot pay the up-front costs
of switching to a safer, more sustainable, and ultimately cheaper energy system. Insufficient attention to
distributional issues will mean more fragmented and divided energy policies, both within countries and
internationally. Ensuring a just and inclusive climate transition, including by addressing the different
dimensions of the distributional and social impacts of climate mitigation strategies, is a core priority for Italy’s
G7 Presidency, as highlighted in the Finance Track Menu of Policy Options for a Just Transition Towards Net
Zero, which was welcomed by G7 Finance Ministers and Central Bank Governors and by G7 Leaders at the G7
Summit in Apulia.
Facilitator
Francesca Utili, Director General International Financial Relations,
Department of the Treasury, Ministry of Economy and Finance, Italy
Panelists
Arunabha Ghosh, Chief Executive Officer, CEEW
Veronika Grimm, Council Member, German Council of Economic Experts
Lucia Silva, Group Chief of Sustainability and Social Responsibility, Assicurazioni Generali
Hirokazu Yamasaki, Deputy Director, Development Policy Division,
International Bureau, Ministry of Finance, Japan
Followed by open discussion and Q&A
12:45 – 14:10
Lunch Reception
14:10 – 14:20
Keynote speech (remotely)
Mark Carney, Co-Chair for GFANZ and UN Special Envoy on Climate
Action and Finance
14:20 – 15:20
Session 3: Diversifying clean energy manufacturing
Countries around the world are stepping up efforts to expand clean energy technology manufacturing, while
also aiming to advance net zero transitions, strengthen energy security and compete in the new global
energy economy. Clean technology manufacturing is highly geographically concentrated: four countries and
the European Union account for 80-90 per cent of global production capacity for key clean energy
technologies like solar PV, wind, batteries, heat pumps and electrolysers.
If governments are to make progress towards expanding and establishing secure, resilient and sustainable
supply chains for these critical components, they will need to carefully design industrial strategies with
effective financial and fiscal schemes that unlock investment, while at the same time maintaining competitive
G7-IEA Conference on Ensuring an Orderly Energy Transition
16 September 2024 I Banca d’Italia, Palazzo Koch, Via Nazionale 91 I Rome, Italy
markets. Under Italy’s Presidency, the G7 is promoting resilient and diversified supply chains for clean-energy
products, including by supporting low- and middle-income countries in playing a stronger role in the value chains
via the Resilient and Inclusive Supply-chain Enhancement (RISE) partnership.
Facilitator
Araceli Fernandez Pales, Head of Technology Innovation,
International Energy Agency
Panelists
Carolyn Fischer, Research Manager, Sustainability and Infrastructure Team,
World Bank
Lapo Pistelli, Director, Public Affairs, ENI
Ulrik Stridbaek, Vice President and Head of Regulatory Affairs, Ørsted
Marek Wolek, Senior Vice President, Strategy and Partnerships Team, Fluence Energy
Followed by open discussion and Q&A
15:20 – 16:20
Session 4: Metrics and sustainability data gaps
Closing data gaps is a crucial advancement to properly evaluate the economic impact of climate change
amid the shift towards net-zero and to formulate effective mitigation policies and adaptation strategies.
Major challenges to the elaboration of informed policymaking decisions arise, amongst others, from
fragmented data collections, lack of centralized and transparent data hubs, sectoral and country
specificities, absence of interoperable reporting standards and taxonomies. To address these gaps
policymakers should continue pursuing international cooperation efforts to ensure data coverage,
transparency, and comparability. Technological innovation can help improve the informativeness and
reliability of forward-looking instruments, such as transition plans, to favour the alignment of finance flows
with the net-zero transformation.
Facilitator
Ivan Faiella, Head, Climate Change and Sustainibility Hub, Banca d’Italia
Panelists
Barbara Buchner, Global Managing Director, Climate Policy Initiative
David Craig, Co-Chair, Task Force on Nature-related Financial Disclosures
Sue Lloyd, Vice-Chair, International Sustainability Standards Board
Ben Macdonald, Managing Principal, Climate Market Strategy and
Infrastructure group
Followed by open discussion and Q&A
16:20 – 16:40
Closing Remarks
Speakers
Riccardo Barbieri Hermitte, Director General, Department of the Treasury,
Ministry of Economy and Finance, Italy
Luigi Federico Signorini, Senior Deputy Governor, Banca d’Italia
16:40 – 17:00 – Farewell coffee
G7-IEA Conference on Ensuring an Orderly Energy Transition
16 September 2024 I Banca d’Italia, Palazzo Koch, Via Nazionale 91 I Rome, Italy