COP27 On the Ground Q&A with Pollination's Gavin Templeton

Here on the ground at COP27 in Sharm el-Sheikh, we’re doing interviews with IIF members on key topics they’re following over the next two weeks. To start us off, Gavin Templeton , Managing Director at Pollination sits down with IIF’s Managing Director and Head of Sustainable Finance, Sonja Gibbs, CFA , for a discussion on Pollination’s work around Just Energy Transition Partnerships (JETPs), why he is optimistic for the outcomes of COP27, and more. The interview has been condensed and lightly edited for clarity.

Sonja Gibbs, IIF

I wonder if you could tell us a bit about the work Pollination is doing and why it brought you to COP.

Gavin Templeton, Pollination

Pollination is a specialist investment and advisory firm. We are solely focused on a net zero, nature positive future, where we both invest in the transition ourselves and also advise on the transition. We work with governments, we work with financial institutions, and we work with corporates -- all around the transition to a net zero, nature positive future. That’s what brings me to COP.

Sonja Gibbs, IIF

Your dance card must be very full this week.

Gavin Templeton, Pollination

Of course, it’s busy. A great opportunity to catch up with friends, colleagues, and clients in person. Obviously in Glasgow, last year, we had such great energy, and the private sector really stepped up. I think there was the perception from some that there was going to be less of a private sector presence this year, but I haven’t felt that at all. I’ve seen a lot of people around, lots of energy in the room, a lot of momentum. For example, I’ve been talking to colleagues from the insurance industry and I think we’re seeing a bigger insurance presence, they are really stepping up to the plate. We're working on climate finance in terms of mobilizing capital into emerging markets. There are conversations happening with donors and with multilateral development banks, about how we bring more private sector capital to the table, particularly to support the JETPs.

Sonja Gibbs, IIF

Tell us a little bit about those Just Energy Transition Partnerships.

Gavin Templeton, Pollination

This is a G7 program which has been developed to focus on how to transform the economies of high emitting countries, including South Africa, Indonesia, and Viet Nam. Working with the GFANZ Secretariat we contributed to GFANZ’s recent report on Actions to Mobilize Capital to EM&DEs, and have been working on how we can we manage coal phase-out and how to increase investment into renewables. Mike Bloomberg and Mark Carney are showing great leadership on this, and so we’re working on how to really support those government conversations and on how to really drive the conversation in terms of how we decarbonize these economies. To succeed in this we need everyone at the table, including the private sector.

Sonja Gibbs, IIF

That's the key, isn't it? Getting the private sector to the table, and getting them there early on.

Gavin Templeton, Pollination

Exactly, and I think we really saw that in Glasgow. It was the thing I was really excited about - the private sector stepping up and saying: “We want to lead, we want to be a part of the conversation.” I’ve seen that momentum over the past 12 months, and I’m seeing that continuing here at COP27.

Sonja Gibbs, IIF

You sound pretty optimistic and hopeful for the outcomes of these weeks.

Gavin Templeton, Pollination

I remain very optimistic because we're working closely with financial institutions that are really stepping up; that are willing to put capital on the table; and who are putting their best people on this. We’re watching the progress that the Sustainable Markets Initiative (SMI) has made, under the leadership of King Charles, and the action that key players including Brian Moynihan, James Brocklebank and David Howden are driving. I think there is just so much momentum, and that's where I draw a lot of energy and inspiration from. It does make me feel optimistic and hopeful for the future. We all need to be!

Sonja Gibbs, IIF

Absolutely, and even groups like the NGFS, all the central banks, everybody taking interest in this space of mobilizing capital.

Gavin Templeton, Pollination

Yes, blended finance is going to play a huge role. Public resources are not going to be enough, so we do need to think about a way to blend finance more efficiently. As you mentioned, NGFS and others are getting involved now and there are a lot of really influential and smart people who are stepping up and saying “How can I play a role? How can I change the way investments work?”. Meaningful action - that is what is needed now.

Sonja Gibbs, IIF

All the players at the table here in Sharm el-Sheikh.

Gavin Templeton, Pollination

Exactly.

Sonja Gibbs, IIF

Lovely to talk with you, Gavin.

Gavin Templeton, Pollination

Thank you for having me.