6-7 September, Rabat. – The mandate of the Standing Committee on Finance is to assist the COP in exercising its functions with respect to the financial mechanism of the Convention. The Standing Committee on Finance (SCF) annually organizes a forum to communicate and exchange information among key stakeholders dealing with climate change finance in order to promote synergies and coherence in the global agenda. This year’s forum will focus on mobilizing finance for climate-resilient infrastructure.
The overall objective of the 2017 SCF forum is to identify gaps in mobilizing and accessing finance for climate-resilient infrastructure and to provide high-level policy inputs and recommendations on how to scale up investment in climate-resilient infrastructure. In particular, it will assess trends in climate-resilient infrastructure, gaps and barriers and explore measures to close the gaps in climate-resilient infrastructure financing.
As an Intergovernmental Organization wholly dedicated to the Euro-Mediterranean Region, the Union for the Mediterranean observes firsthand the adverse effects of climate change on the region, be it the recurring and longer droughts and heatwaves, or the rising sea levels that both shores of the Mediterranean are threatened by. Climate-resilient infrastructure, and its financing, are a crucial aspect of adaptation to climate change in the Mediterranean. Two sessions of the SCF Forum will be dedicated to two UfM labelled projects, namely the rehabilitation of Lake Bizerte and the Multi-Site Urban Regeneration in Jericho.
By co-organising the 2017 SCF Forum Mobilizing Finance for Climate-Resilient Infrastructure, the UfM seeks to make the Mediterranean region part of the global agenda, and make the global agenda part of the Mediterranean.