Time & Date of Event 

12:30 PM to 1:30 PM on Wednesday, 9th of November 2022 

Event Overview 

The Arab States region is critically endangered from climate risk, with the highest levels of food import dependency and water scarcity across the globe. The past decade saw one of the most severe drought cycles in the region for hundreds of years, exacerbating ecosystem fragility, displacement, and social vulnerability. By 2030, unless urgent actions are taken, water and food productivity could decline further. 

With the Glasgow Climate Pact developed in COP26, COP27 will promote an ambitious outcome that protects people and the planet, especially in the MENA region. Considering the critical impact of climate change in the region and that the region will host the COP for two consecutive years, (UAE will host COP 28 in 2023), the Arab States region can be primed as the center of green and just transitions, to scale up partnerships for climate change action, and to advance the implementation of the NDCs.    

This COP27 Roundtable will offer convene high level officials and representatives from IFIs and the private sector to engage with UNDP to co-create opportunities for green, sustainable and just transitions in the Arab States region. The event is also the 2nd Roundtable consultation for the development of a new UNDP facility—the Green Arab States Facility for Transition (GAFT)—which UNDP is planning to launch in 2023.  

GAFT is aligned with UNDP’s global commitment, the Climate Promise, which is designed to support the countries to achieve NDCs and consolidate their targets into actions. A key focus of the GAFT will be to scale up actions on NDC commitments across the region, specifically through developing implementable projects to achieve the NDC targets. This would be done through the development of an effective project preparation facility or framework (co-created with ISDB and partner IFIs).  

There will also be a specific focus on developing green transition pathways in crisis and post-conflict settings: green solutions will be integrated into reconstruction efforts across the region; energy gaps in crisis settings and for displaced communities will be addressed through a more diversified energy mix. Customized solutions in different contexts will be developed in consultation with partners, including the panelists from the consultation.  

The COP-GAFT Roundtable will include a participatory discussion in addition to highlighting some ongoing initiatives in the region and some potential partnerships being developed under the GAFT framework. 

Event Outcomes 

This roundtable is a High-Level roundtable consultation prior to the launching of GAFT in 2023. In this event, UNDP RBAS seeks to: 

1. Introduce GAFT and explain the purpose and necessity of the facility. 

2. Present perspectives from UNDP, ISDB, selected private sector partners and other panelists on promoting blended finance principles through the GAFT framework, including anchoring blended finance in a clear development rationale, ensuring the mobilization of commercial finance, tailoring finance to local contexts, focusing on effective partnerships and ensuring transparency and monitoring of results.   

3. Highlight potential partnerships being developed under GAFT and seek opportunities for new partnerships to help consolidate building back better through green recovery programs.  

4. As a follow up, engage in co-creation with representatives from UNDP, ISDB and partner institutions and governments to establish the GAFT facility in 2023.