MADRID, The World Green Economy Organisation, WGEO, in cooperation with the United Nations Framework Convention on Climate Change, UNFCCC, held a high-level forum that discussed climate finance strategies for the implementation of Nationally Determined Contributions, NDCs. During the conference, participants also reviewed the measures and actions taken by countries under the framework of the Paris Agreement.
The forum, which was attended by ministers, officials and representatives from many countries, provided a key platform for participants to exchange knowledge on the most important practices and effective ways to develop and implement regional and national strategies. These efforts are aimed at facilitating countries' access to financing and help them meet their NDCs to mitigate the effects of climate change and achieve the long-term strategies of developing countries.
WGEO reaffirmed its commitment to promoting the global transition towards a green economy and to supporting ambitious and innovative actions by countries to face climate change challenges worldwide.
"It is my pleasure to welcome you to the High-level Forum on Climate Finance Strategies, a joint undertaking by the World Green Economy Organisation and UN Climate Change Secretariat. I congratulate the UN Climate Change Secretariat, and the governments of Chile and Spain, for their tremendous efforts to bring us all here in support of the global process to address climate change on the sideline of COP 25," said WGEO Chairman, Saeed Mohammed Al Tayer, during the forum.
"Countries have, in their Nationally Determined Contributions and their National Adaptation Plans, laid out their commitments to reduce emissions and their climate-resilient development charted a course to deal with the impacts of climate change," he noted, adding that, "Financing these commitments and plans, enhancing access to the means to turn roadmaps into reality, is an immediate priority, especially for developing countries."
"Working to create this change, to address climate change while leading towards a new economic system that is built upon green solutions is a mission that the World Green Economy Organisation (WGEO) is committed to," Al Tayer affirmed.
WGEO and UNFCCC released a report titled, 'From Aspiration to Actual Action on Climate Change'. It provided insights and feedback about financing needs related to climate activities of some countries and regions based on discussions organised by the two parties during the five ministerial meetings, several high-level forums, and the Global Ministerial Conference on the Green Economy held this year.
More than 300 participants took part in the forum, including ministers, senior executives and leading experts from international organisations and private institutions.
The speakers presented their views on financing needs concerning the needs of some countries and regions, including the available instruments, initiatives and activities to support countries in the Arab, African, and Southeast Asian regions.
The forum also shed light on the broader efforts currently being undertaken by some countries to mobilise climate finance such as the NBF project.
Source: Emirates News Agency