IFC’s 4th Global Manufacturing Conference

It was all accolades as the 4th Global Manufacturing Conference organised by the International Finance Corporation (IFC), ended in Vienna, Austria last week. The Conference with the Theme: Accelerating Solutions for Sustainable Manufacturing, attracted a top-tier global audience of manufacturers, investors, government officials, business executives, industry analysts, financial and development institutions, and other major players.

The IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries.

Mr. Femi Akinrebiyo, IFC’s Global Manager, Manufacturing Investment & Trade Supplier Finance at IFC, expressed deep satisfaction with the outcome of the conference. He said:

“As I look back on the IFC – International Finance Corporation 4th Global Manufacturing Conference, I want to acknowledge the contribution not only of our broad range of impressive speakers and sponsors, but also of my IFC colleagues who helped make this conference a success through their efforts in the months leading up to the event”.

“The conference underscored the commitment of industry leaders to sustainability in manufacturing and the need to combine economic development with the green transition”.

“Together with our clients and partners, IFC is creating new opportunities for sustainable manufacturing in emerging markets, driving growth for a brighter, greener future. We are here to help existing and new clients meet sustainability commitments and grow their businesses”.

The conversations held at the conference were critically important for advancing the sustainable manufacturing agenda.

IFC’s 2023 Global Manufacturing Conference brought together 300 delegates from more than 100 companies and 43 countries for an honest and meaningful discussion about IFC’s collective role in pushing forward the green agenda in manufacturing, which is a necessary part of protecting the planet while creating lasting economic changes that improve lives.

During three days of panel discussions, networking, and knowledge sharing, conference participants delved into topics like sustainability in supply chains, the journey towards a low-carbon transition, the intersection of fertilizers and decarbonization, and the importance of building regional hubs. 

One takeaway: Collaboration between public and private partners is key for uncovering opportunities and finding solutions that can drive economic development and create a greener future.

Through its various engaging and interactive panel sessions, the Conference extensively discussed the following topics, touching on innovation through people, process, and technology:

• Making Manufacturers More Sustainable: Strategies, tactics, and new technologies to encourage companies to transition to cleaner energy, adopt circularity principles, and become more efficient through conservation and waste reduction
• Policies and Principles: A review of the state and status of sustainability policies and company commitments. Are they working and are they enough to meet the Paris goals?
• Mobilizing Financing: The role that sustainable financing, concessional financing, and multilateral development banks play in accelerating industrial decarbonization
• A Just Transition: How to balance country capabilities and development needs to create a just transition to a more sustainable world for everyone
• Greening Supply Chains: How incentive financing and initiatives like IFC’s Global Trade Supply Finance are helping suppliers become greener, cleaner, more efficient, and better equipped to transact with global brands and global value chains.

Participants at the Conference echoed the usefulness of the event. They were unanimous in agreeing that the Conference served its purpose of providing a veritable platform for them to network, share experiences, explore new technologies and business models that companies can leverage to accelerate solutions for sustainable manufacturing.

The key note speech was given by Nobel Prize winning economist, Joseph Stiglitz, while the discussions were anchored by British – Nigerian Journalist, Femi Oke, a veteran of CNN, BBC, and Al Jazeera.

IFC’s manufacturing activities are a vital part the World Bank Group’s overall mission to promote sustainable economic growth and reduce poverty in developing countries.

Through its manufacturing investments and advisory services, IFC creates opportunities for local businesses to generate employment and drive technological and economic innovations that enable workers and their communities to thrive.

Creating the conditions for excellence that underpin successful industrial development requires strengthening every link in the supply chain and making sure that manufacturers, brands, and workers have the tools, finances, information, and expertise they need to compete in an increasingly dynamic global marketplace.

With additional references from www.ifc.org