Past event

Conference

Infrastructure Finance

Bridging the gaps between policy and investment

23 Nov 2015 - 09:30 to 24 Nov 2015 - 13:30

Chatham House, London

Infrastructure is moving up the global policy agenda. Efficient and effective infrastructure is critical to economic competitiveness and growth, and governments faced with the task of plugging infrastructure gaps and maintaining or modernizing nationally critical infrastructure, must turn to private sector investors to help meet the costs.

Private capital is available to support projects; however political and regulatory risks are affecting investors’ confidence across developing and industrialized economies. As a result, despite the potential for infrastructure investments to generate long-term returns, actual levels of investment remain relatively low.

This Chatham House conference will bring together policy, investment and infrastructure project professionals to focus on the challenge of depoliticising infrastructure decision-making processes and reducing risks to help unlock investment. Expert speakers and thought leaders will assess policy challenges for investors, the regulatory and risk-sharing landscape, and what can be done to move infrastructure from a series of ambitious visions to economic reality.

The Chatham House Rule 
To enable as open a debate as possible, this conference will be held under the Chatham House Rule.

Twitter 
Suggested hashtag: #CHInfrastructure

Pricing

For any questions about which rate applies to you, please call +44 (0) 20 7957 5727

                       FULL RATE
 EXCL. VATINCL. VAT
Major corporate member rates  
All organizations£625£750
Corporate member rates  
Commercial organizations£1,360£1,632
Government departments£795£954
NGOs and academics£525£630
Standard rates  
Commercial organizations£1,495£1,794 
Government departments£895£1,074
NGOs and academics£580£696
 

Monday 23 November

Session One | The ‘Politics’ of Infrastructure
09:30 - 11:30

This opening session will focus on infrastructure policy decisions and the challenge of reducing political risk and channelling investment into nationally critical infrastructure projects.

  • Can the ‘politics’ be entirely removed from decisions about infrastructure projects? Where is the balance between a technocratic and a democratic approach to infrastructure decisions?
  • What is the best way to manage responsibilities for infrastructure policy between local, regional, national and supra-national layers of decision making?
  • What policy frameworks are needed to ensure projects with long-term economic and social value can access sufficient resources?
  • How should infrastructure be funded and how can costs be shared? To what extent are national infrastructure projects ‘public goods’, requiring government guarantees? What are the optimum roles of the public and private sector? 
  • Will the National Infrastructure Commission lead to a longer term policy approach to infrastructure in the UK?    

09:30 Chair's opening remarks

Chair
Dr Paola Subacchi, Research Director, International Economics, Chatham House

Speakers
Isabel Dedring, Deputy Mayor for Transport, Greater London Authority
Geoffrey Spence, Chief Executive, Infrastructure UK
Anne Berner, Minister of Transport and Communications, Finland
Sir Adrian Montague, Chairman, Aviva
Terry Morgan, Chairman, Crossrail

Questions and discussion 
    
11:30 – 12:00 Refreshments 

Session Two | Infrastructure, Investment and Growth 
12:00 - 15:15

This session will assess how, in a low interest rate climate and with highly liquid capital markets, investment into infrastructure projects can be increased in order to stimulate economic growth.

  • How can Europe increase the proportion of economic output spent on infrastructure in order to plug the projected investment shortfalls across key sectors?
  • How will the EU Investment Plan achieve its infrastructure investment goals and where will the money come from?
  • What can policy-makers learn from each other about managing policy risks in infrastructure projects?

Chair 
Rick Watson, Managing Director, Association of Financial Markets Europe

Speakers
Jonathan Taylor, Vice-President responsible for Environment and Climate Action, European Investment Bank
Martin Merlin, Director Financial Markets, DG FISMA, European Commission
Dr Jeromin Zettelmeyer, Director-General, Economic Policy, Federal Ministry of Economic Affairs and Energy, Germany 

Questions and discussion 

13:15 – 14:15 Lunch 

Session two continued
14:15 – 15:15 

  • How can quasi-public-sector financial institutions work together, given their differentiated roles, and complement available private sector funding for infrastructure?
  • What are the main current G20 trends on investment strategies? How can we promote infrastructure investment financing by institutional investors on an international level? 
  • As new financial institutions such as the Asian Infrastructure Investment Bank and the New Development Bank become established, what role will they play in global infrastructure funding?

Speakers
Jan Mischke, Senior Fellow, McKinsey Global Institute 
André Laboul, Deputy Director of the Directorate for Financial and Enterprise Affairs, OECD 
Dr Kevin Lu, Managing Director, Head of Investment Solutions Asia, Partners Group

Questions and discussion

15:15 – 15:45 Refreshments

Session Three | Finance and Funding Models 
15:45 – 17:30

This session will look at financing models and what can be done to facilitate and co-ordinate investment into infrastructure projects.

  • What is new in infrastructure finance? What innovative funding models are being developed and to what extent can they be replicated across policy jurisdictions?
  • As investors search for yield and long-term returns, will good projects always find their way to being financed?
  • What is the most effective way to combine public and private investment to maximize the social value of infrastructure as well as returns for private investors?
  • How is the use of public-private partnerships (PPP) evolving? In PPP arrangements, how can the risks faced by private-sector parties when dealing with public agencies be better managed?
  • Given the complexity of infrastructure projects, how can the European Capital Markets Union proposals incentivize both institutional and retail investors to invest in infrastructure projects?

Chair
Julia Prescot, Chief Strategy Officer, Meridiam 

Speakers
Andrew Paulson, Managing Director, Infrastructure Finance, RBS
Jim Barry, Managing Director, Global Head Infrastructure Investment Group, BlackRock 
Mark Corben, Chief Financial Officer, Thames Tideway Tunnel Ltd
Chris Lewin, Chair, Risks and Returns in Infrastructure Working Party, Institute and Faculty of Actuaries
Phil Adam, Managing Director, Head of Project Bonds, HSBC Bank plc

Questions and discussion 

17:30 Close of day one and reception hosted by Chatham House


Tuesday 24 November

Session Four | Meeting the Demand for Projects
09:30 - 11:15

This session will focus on the mismatch between the capital available for investment and the relative dearth of bankable projects and how to evaluate projects to target sources of capital.

  • Where are the ‘shovel ready’ projects and how can the gap between available capital and well designed and well-structured deals be addressed? 
  • What is needed to create a bankable pipeline of projects across different sectors?
  • How can initiatives tackle the infrastructure project and increase the pipeline of viable deals? Will the establishment of the Global Infrastructure Hub reduce barriers to investment and in its aim to match investors to projects?
  • How can mechanisms for project selection be improved? How can the right choice of projects be encouraged, in order to reduce inefficiencies in the allocation of resources?

Chair
Professor Denise Bower, Director - Engineering Project Academy, University of Leeds and Executive Director, Major Projects Association 

Speakers
Michael Wilkins, Managing Director, Infrastructure Finance Ratings, Standard & Poor's 
Richard Timbs, Senior Infrastructure Specialist, Global Infrastructure Hub
John Seed, Head of Infrastructure Finance Europe, Russia and Africa, Mott Macdonald 
Hideo Naito, Global Head of Infrastructure & Environment Finance Group, Japan Bank for International Cooperation

Questions and discussion 
            
11:15 – 11:45 Refreshments

Session Five | Panel Discussion: Taking a Strategic Approach to Infrastructure
11:45 – 13:00

This discussion will explore ways to develop policy and regulatory frameworks that can help reduce uncertainties for investors and match capital to nationally important infrastructure projects.

  • How can governments demonstrate and communicate a clear and credible vision for national infrastructure?
  • To reduce fragmentation and responsibility for the provision of different infrastructure across different bodies, should infrastructure decision making become more centralised?
  • Is it possible to develop consistent, predictable regulatory frameworks that transcend changes in government?
  • Are high levels of idiosyncratic risk an inevitable characteristic of infrastructure projects?

Moderator 
Philip Coggan, Buttonwood Columnist and Capital Markets Editor, The Economist 

Panellists
David Hancock, Head of Construction, Cabinet Office
Barry White, Chief Executive, Scottish Futures Trust
Julian Ware, Senior Manager, Commercial Finance Team, Transport for London    

Questions and discussion     

13:00 Close of conference


© The Royal Institute of International Affairs 2015

 

Speakers

Phil Adam

Managing Director, Head of Project Bonds, HSBC Bank plc

Jim Barry to speak at Chatham House Infrastructure Finance conference

Jim Barry

Managing Director, Global Head Infrastructure Investment Group, BlackRock

Anne Berner to speak at Chatham House Infrastructure Finance 2015 conference

Anne Berner

Minister of Transport and Communications, Finland

Professor Denise Bower to speak at Chatham House Infrastructure Finance 2015 conference

Professor Denise Bower

Director - Engineering Project Academy, University of Leeds and Executive Director, Major Projects Association

Philip Coggan to speak at Chatham House Infrastructure Finance 2015 conference

Philip Coggan

Buttonwood Columnist and Capital Markets Editor, The Economist

Mark Corben to speak at Chatham House Energy Transitions 2015 conference

Mark Corben

Chief Financial Officer, Thames Tideway Tunnel Ltd

Isabel Dedring to speak at Chatham House Infrastructure Finance 2015 conference

Isabel Dedring

Deputy Mayor for Transport, Greater London Authority

David Hancock to speak at Chatham House Infrastructure Finance 2015 conference

David Hancock

Head of Construction for the Cabinet Office

André Laboul to speak at Chatham House Infrastructure Finance 2015 conference

André Laboul

Deputy Director of the Directorate for Financial and Enterprise Affairs, OECD

Chris Lewin to speak at Chatham House Infrastructure Finance 2015 conference

Chris Lewin

Chair, Risks and Returns in Infrastructure Working Party, Institute and Faculty of Actuaries

Dr Kevin Lu to speak at Chatham House Infrastructure Finance 2015 conference

Dr Kevin Lu

Chief Executive Officer, Partners Group (Singapore) Pte Ltd

Martin Merlin to speak at Chatham House Infrastructure Finance conference

Martin Merlin

Director Financial Markets, DG FISMA, European Commission

Jan Mischke to speak at Chatham House Europe's Strategic Choices and Infrastructure Finance conference

Dr Jan Mischke

Senior Fellow, Mckinsey Global Institute

Sir Adrian Montague to speak at Chatham House Infrastructure Finance 2015 conference

Sir Adrian Montague

Chairman, Aviva

Terry Morgan Chairman of Crossrail to speak at Chatham House Infrastructure Finance 2015 conference

Terry Morgan

Chairman, Crossrail

Hideo Naito to speak at Chatham House Infrastructure Finance 2015 conference

Hideo Naito

Global Head of Infrastructure & Environment Finance Group, Japan Bank for International Cooperation

Andrew Paulson to speak at Chatham House Infrastructure Finance 2015 conference

Andrew Paulson

Managing Director, Infrastructure Finance, RBS

Julia Prescot to speak at Chatham House Infrastructure Finance 2015 conference

Julia Prescot

Chief Strategy Officer, Meridiam

John Seed to speak at Chatham House Infrastructure Finance 2015 conference

John Seed

Head of Infrastructure Finance Europe, Russia & Africa, Mott MacDonald

Geoffrey Spence to speak at Chatham House Infrastructure Finance 2015 conference

Geoffrey Spence

Chief Executive, Infrastructure UK

Dr Paola Subacchi to speak at Chatham House Infrastructure Finance 2015 conference

Dr Paola Subacchi

Research Director, International Economics, Chatham House

Jonathan Taylor to speak at Chatham House Infrastructure Finance conference

Jonathan Taylor

Vice-President responsible for Environment and Climate Action, European Investment Bank

Richard Timbs to speak at Chatham House Infrastructure Finance 2015 conference

Richard Timbs

Senior Infrastructure Specialist, Global Infrastructure Hub

Julian Ware

Senior Manager, Commercial Finance Team, Transport for London

Rick Watson to speak at Chatham House Infrastructure Finance 2015 conference

Rick Watson

Managing Director and Head of Capital Markets, AFME

Barry White to speak at Chatham House Infrastructure Finance 2015 conference

Barry White

Chief Executive, Scottish Futures Trust

Mike Wilkins to speak to Chatham House Infrastructure Finance 2015 conference

Michael Wilkins

Managing Director, Infrastructure Finance Ratings, Standard & Poor's

Dr Jeromin Zettelmeyer to speak at Chatham House Infrastructure Finance conference

Dr Jeromin Zettelmeyer

Director-General, Economic Policy, Federal Ministry of Economic Affairs and Energy, Germany


 

Sponsorsed by

HSBC logo

IFoA sponsor of Chatham House Infrastructure Finance 2015 conference

RBS sponsor of Chatham House Infrastructure Finance 2015 conference

If you are interested in becoming a sponsor for this event, please call Ben Cumming on +44 (0) 20 7957 5729 or email bcumming@chathamhouse.org

Media partners

AFME media partner of Chatham House Infrastructure Finance 2015 conference

Bloomberg New Energy Finance media partner of Chatham House Infrastructure Finance 2015 conference

CIID media partner of Chatham House Infrastructure Finance 2015 conference

ICMA media partner of Chatham House Infrastructure Finance 2015 conference

Major Projects Association media partner of Chatham House Energy Transitions conference

UN Development Business confirmed media partner of Chatham House Infrastructure Finance conference

If you are interested in becoming a media partner for this event, please contact Ruth Clark on
+44 (0)20 7957 5753 or email rclark@chathamhouse.org.

Venue

Chatham House
10 St James's Square
London
SW1Y 4LE
UK
conferences@chathamhouse.org

Telephone: +44 (0)20 7314 2785
Fax: +44 (0)20 7957 5710

If you wish to book the venue for your own event please phone +44 (0)20 7314 2764

Directions
The nearest tube station is Piccadilly Circus which is on the Piccadilly and the Bakerloo Underground lines. From Piccadilly follow Regent Street southwards towards Pall Mall and take the first road on the right called Jermyn Street. Duke of York Street is the second road on the left and leads to St James's Square. Chatham House is immediately on your right.

Map

Accommodation
Although we cannot book accommodation for delegates, we have arranged a reduced rate at some nearby hotels, where you can book your own accommodation. Please inform the hotel that you will be attending a conference at Chatham House (The Royal Institute of International Affairs) to qualify for the Institute's reduced rate.

Please note all rates are subject to availability.

Flemings Mayfair
Half Moon Street
Mayfair
London - W1J 7BH

Tel: + 44 (0)20 7499 2964
Fax: + 44 (0)20 7499 1817

Standard Single from £199 + VAT

The Cavendish London
81 Jermyn Street
London - SW1Y 6JF

Tel: + 44 (0)20 7930 2111
Fax: + 44 (0)20 7839 2125

Standard Single £205 + VAT

Book The Cavendish online

The Stafford London 
St James's Place
London - SW1A 1NJ

Tel: 020 7518 1125
Fax: 020 7493 7121

Standard Single £230 +VAT

This conference will be held under the Chatham House Rule. Information for journalists.

Press can request a press pass.