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VERSION:2.0
PRODID:unctad.org
BEGIN:VEVENT
UID:6a4cc3b7e72e8
DTSTART:20231205T073000Z
SEQUENCE:0
TRANSP:OPAQUE
DTEND:20231205T090000Z
LOCATION:Expo City Dubai\, United Arab Emirates
SUMMARY:COP28 side event -  Investing in the future: Transforming financing
  for the Paris Agreement and development goals
CLASS:PUBLIC
DESCRIPTION:A COP28 Side Event Organized by UNCTAD and UNDP \n\nThis event 
 will reflect on recent discussions on transforming the financial system to
  meet climate goals\, while demonstrating the power of investing in NDCs f
 or sustainable development.  It will explore ways to raise ambition for c
 limate financing that build on\, and inform\, country experiences.\n\nThe 
 world cannot meet the goals of the Paris Agreement and 2030 Agenda without
  a rapid alignment and scaling-up of finance. Motivated by compounding cli
 mate\, economic and geopolitical crises\, 2023 saw an active global conver
 sation on the need for far-reaching reform of the global financial archite
 cture to respond to contemporary challenges. The June 2023 Paris Summit de
 livered a two-year roadmap for action on global financial architecture ref
 orm\, which highlights key convenings from the World Bank Group’s Annual
  Meetings to COP28 to the United Nations Financing for Development Forum w
 here these debates will continue to take place.\n\nAt the same time\, deve
 loping countries are taking bold steps to respond to the increasingly inte
 nse and immediate impacts of climate change\, leveraging their NDCs to hel
 p drive investment in climate action and development priorities. Nonethele
 ss\, unsustainable debt\, unaffordable financing\, and volatile financial 
 flows are squeezing fiscal and policy space for climate-resilient just tra
 nsitions. For developing countries to deliver on their NDCs and achieve wi
 der development goals\, further progress is necessary to scale financing w
 ith the common goal of prosperity for all. The African Climate Summit held
  in September 2023\, among other things\, deliberated on these challenges 
 and in the Nairobi Declaration that resulted from the summit\, proposed a 
 new financing architecture responsive to Africa&#039\;s needs including de
 bt restructuring and relief\, and the development of a new Global Climate 
 Finance Charter through the United Nations General Assembly and the COP pr
 ocesses by 2025.\n\nFrom clean energy to resilient food systems\, scaling-
 up finance requires new and innovative approaches at both global and natio
 nal levels. This event will be an opportunity to:\n\n\nhear countries’ s
 uccesses and challenges in financing climate action\,\nreflect on differen
 t proposals for the global financial architecture reform that would suppor
 t and complement these national experiences to scale-up successes and addr
 ess challenges\, and\nidentify urgent priorities for action to ensure prog
 ress serves the needs and priorities of all developing countries.\n\n\nSpe
 akers to be confirmed.\n&lt\;h3 class=&quot\;text-align-center\n\nView mee
 ting on unctad.org\nhttps://unctad.org/meeting/cop28-side-event-investing-
 future-transforming-financing-paris-agreement-and-development
DTSTAMP:20260707T091535Z
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