2023Climate Finance and Just Transition in the Arab Region: What Impacts for Fragile Countries
Event Time: 12pm Dubai time (10am Beirut) until 12:40pm in the Swedish Pavilion (zone B6, building 75) in the COP28
Just Transition is the notion that a green transition must also take into account intersectional socio-economic imperatives in order to bring forth a future that is both fair and sustainable for everyone. The ongoing climate, political, economic and social crises across the Middle East and North Africa have made such a process an absolute necessity.
With that being said, the existing climate finance systems have fallen short of addressing the unique needs of the populations in the Middle East. This discrepancy is clear as the climate funding allocated to the Middle East and North Africa (MENA) region over the past two decades has been insufficient. Similarly, the scope of the new Loss and Damage fund which has been established under the scope of the World Bank, remains unclear, and the extent to which it can help contribute to Just Environmental Transition in the region is unclear. Other questions about its funding also remain. Would the World Bank, which has its own interests and objectives, be able to guide this fund in a way that is satisfactory to the aspirations of the people and governments in the region? What would be the role of the European Union with regards to this?
The side event will provide a platform for collaboration among diverse stakeholders by sharing experiences and perspectives on climate finance, loss and damage and just transition?
Some of the proposed questions:
- To what extent can Arab Countries benefit from the new Loss and Damage Fund?
- Does this Loss and Damage Fund cover the need for Just Transition in the region?
- Why has climate finance been so lacking in the Arab Region? What are the issues with current climate finance provisions and agreements in the region?
- How do the many conflicts which plague the Arab World serve as obstacles to the disbursement of climate finance in the region?
- How can the European Union support the disbursement of more and fairer climate finance to the Arab Region?
- How can climate finance be used towards the achievement of just transition in the Arab Region?