Achieving climate neutrality requires effective policy instruments to induce the transformative changes needed across all economic sectors. The move away from high-emission technologies and processes to clean ones must happen rapidly and at scale, and to wide-spread diffusion. Several climate policy instruments have been tried and tested and are deployed in many countries around the globe, including carbon pricing, feed-in-tariffs, or performance standards, but they do not deliver all of the needed functionality. The 4i-TRACTION research has identified additional instruments with untapped potential and possible game changer qualities, that can help tackle challenges of transformative change other policies struggle to address. In this side event, the 4i-TRACTION project presented three policy instruments that can support transformative change: transition plans for banks, public procurement for climate neutrality and integrated infrastructure planning.

Matthias Duwe from Ecologic Institute opened the event with notes on transformative climate policies. Following this, the event featured a series of input presentations on policy instruments that could drive transformative change. Speakers included Nina Voulis from CE Delft, presenting remotely on Integrated Infrastructure Planning; Jonathan Gardiner from the Ecologic Institute, discussing Public Procurement for Climate Neutrality; and Claire Eschalier from I4CE, focusing on Transition Plans for Banks. The session culminated in a panel discussion with Michael Mehling (MIT) and Andrew Minson (Global Cement and Concrete Association), moderated by Matthias Duwe.

The event took place on Sunday, 10 December 2023, 16:45-18:15 (GMT+4) in Side Event Room 5 at the COP28 Conference Venue in Dubai.

Watch the side event recording here!