UN’s climate roadshow commences in Africa

By
Mariam Anwar
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climate roadshow commences in Africa
UN's climate roadshow commences in Africa

Bonn, 4 August 2022 (TDI): The UN Regional Commission UN Climate Change High-Level Champions, and Egypt, which is hosting the UN Conference on Climate Change COP27, have organized 5 Regional Forums in Africa, Asia, Middle East, Latin America, and the Caribbean to put commitments into action.

Under this agenda, the global climate investor roadshow has kicked off in Africa.

They seek to increase public and private climate investment in areas with the highest need.

UN’s global climate investor roadshow has kicked off in Africa. This is Africa’s first global climate investor roadshow ahead of COP27 in Ethiopia.

Additionally, before COP27 in November 2022, the United Nations Regional Commissions, the UN Climate Change High-Level Champions for COP26 and COP27, and the incoming Egyptian Presidency of COP27 are organizing several regional forums.

This is being done to hasten the flow of funding to the initiatives required to cut emissions, increase climate resilience, and advance the 2030 Sustainable Development Goals.

The five forums are being held in Africa, the Middle East, Asia, Latin America, and the Caribbean. The targeted initiative is to encourage more public and private investment in the areas with the highest need.

Furthermore, Confirmed attendees include Mark Carney, co-chair of the Glasgow Financial Alliance for Net Zero and UN Special Envoy for Climate Action, Sameh Shoukry, Egyptian Minister for Foreign Affairs, and Designate COP27 President, and Amina Mohammed, Deputy Secretary General of the United Nations.

Whereabouts of the five forums 
  1. Addis Ababa, Ethiopia (2-4 August) – At the meeting of the African Group of Negotiators for COP27

  2. Bangkok, Thailand (25 August) – Following on from the Asia Pacific Business Forum.

  3. Santiago, Chile (1-2 September) – A forum on climate finance and the energy transition, covering Latin America and the Caribbean.

  4. Beirut, Lebanon (15 September) – A one-day regional forum on climate finance needs and investment opportunities in the Arab States.

  5. Geneva, Switzerland (20 September) – High-Level Roundtable on ‘enhancing sustainable management and financing for the critical raw materials required for low-carbon transitions.

Key Objectives for the forums

These forums will directly inform Egypt’s “International Cooperation Forum” on September 7-9, which will inform COP27’s Finance Day on November 9. This forum will also coincide with the combined conference of African ministers of finance, economics, and the environment.

As the UNFCCC COP27 approaches, the ongoing COVID-19 crisis, the current geopolitical environment, and the global climate catastrophe have created a triple calamity for the world.

Moreover, the initiative advocates a just transition for all parties and a holistic approach to sustainable development.

The five regional forums will concentrate on access to finance through new public/private vehicles, channeling and scaling of investments, and the nexus between climate and debt.

Henceforth, each region will concentrate on particular topics that are most pertinent to them, such as the transition to a circular economy, infrastructure, and the energy sector.

Also read: Gabon to host Africa Climate Week

The epilogue of the compendium shaped by the forums

The compendium, titled “Opportunities for climate finance and investments on the SDGs,” will be presented to the UN Secretary-General.

It’ll aim to highlight the financier’s regional priorities to encourage the public and private sectors to collaborate to accelerate the financing of priority areas and projects.

Ultimately, a compilation of the projects selected through the regional forums will be published on Finance Day.