RCE-OECD virtual workshop: ‘Investment Treaties and Climate Change: Supporting climate-friendly investment and policy space for climate action’

Mr Dhanesswurnath Thakoor, Chief Executive of the FSC, highlighted in his opening speech that the FSC has issued its guidelines on Green Bonds in December 2021 in line with the requirements of the Bank of Mauritius’ guide on the issue of sustainable bonds. He further underscored that the FSC is a signatory of the ‘Marrakech Pledge’.

Mr Winfrid Blaschke, Deputy Head Investment Division, OECD, during his opening remarks, stated that climate change is a defining challenge for government policy makers and our societies. He elaborated on the work conducted by the OECD on climate change. Mr Blaschke, mentioned that Mauritius is one of the vulnerable countries to climate change and quoted Mr Thakoor, who mentioned in his speech, that global warming and the rise in sea level are key challenges for Mauritius.

The workshop was divided into two sessions namely: (i) ‘Investment treaties and climate change – impact on government policy space for climate measures’, and (ii) ‘Investment treaties and climate change – alignment of finance flows’.

The 5 speakers spoke on several key items such as:

• to consider new policies that governments need to include in their treaties to address concerns about policy space;
• whether climate specificities are taken into consideration;
• how investment treaties can play a role in strengthening domestic climate policies; and
• whether investment treaty policy makers can learn from the net zero alignment of activities of other actors with influence on finance flows.