High-level Dialogue on Mainstreaming Climate Finance for Effective Climate Action and Sustainable Development
Time & Date of Event
5:00 PM to 6:00 PM on Tuesday, 8th of November 2022
Mainstreaming climate action and finance into regional, national, and sectoral development planning is necessary to implement and accelerate climate action and respond to country needs and priorities. Pursuing a holistic and inclusive approach to climate action and finance can unlock synergies and overcome barriers for strengthening mobilisation and access to climate finance. This is of particular importance in the Arab region, in where climate finance falls far short of needs, both in terms of the quality as well as the quantity of financing received.
The proposed event will bring together ministers, international organisations, and multilateral development banks to explore a holistic approach to climate mainstreaming. Importantly, it provides a forum to share experiences and lessons learned for the operationalisation and implementation of mainstreaming on the ground, highlighting challenges and opportunities. In particular, the high-level panel will discuss the following key aspects for successful mainstreaming:
- Strengthening the science-policy interface. Climate assessments should inform policies, plans and projects to render them actionable and ensure they reach the most vulnerable. Scientific assessments are also key to provide a climate rationale for projects to make them more investable.
- Enhancing policy alignment across the climate and sustainable development communities in line with efforts to pursue green recovery and respond to current global challenges.
- Improving institutional coordination for effectively integrating climate into all stages of the policy process so that climate action becomes a national development priority.
- Enhancing regional coordination, showcasing in particular how regional and multi-country projects can be an opportunity for advancing action on transboundary climate and SDG challenges.
- Developing capacity and sharing knowledge among all stakeholders for strengthening planning, implementation and monitoring for effective climate action.
The event seeks to enhance the understanding of how climate mainstreaming is key for accessing and mobilising climate finance for effective climate and SDG action. A strengthened knowledge and understanding of mainstreaming among national stakeholders can foster its operationalisation and implementation. This high-level event provides a platform to highlight challenges and opportunities for effective climate mainstreaming from a broad set of perspectives, allowing for feedback and peer learning. In particular, the event seeks to provide concrete examples and experiences by showcasing existing efforts by Arab States to identify and formulate their climate commitments as well as corresponding financing needs and to incorporate them in their low-emissions, sustainable development pathways. It will also illustrate how Arab States, MDBs and international organisations can collaborate for successful climate mainstreaming, and opportunities presented by multi-country and regional initiatives.