One Forest Summit

H.E. Razan Al Mubarak , UN Climate Change High-Level Champion for COP 28 recently participated at the One Forest Summit ( One Planet Summit ) in Gabon.

Speaking at the Heads of State Summit in the presence of Presidents Ali Bongo Ondimba of Gabon and Emmanuel Macron of France, Ms. Al Mubarak laid out the potential of forests as Nature-based Solutions to climate change and biodiversity loss saying; “We recognize the irreplaceable value of forests for nature, for people, for economy, for common humanity, but also as a prime solution to address climate change. We also recognize that there is no Paris Agreement without protecting, without restoring, without sustaining and managing nature.”

Ms. Al Mubarak also spoke at the launch of the Innovative Finance for Nature and People report published by the Global Environment Facility  (GEF) and the International Institute for Environment and Development (IIED) .

The report states biodiversity-positive carbon credits and nature certificates could help meet the goals of both the Paris Climate Agreement and Kunming-Montreal Global Biodiversity Framework. It also has a number of recommendations for the private sector, investors, and others in the marketplace including the need to generate and sustain demand from individual buyers and private investors, and to collaborate on methodologies, certification standards and metrics.

In addition, Ms. Al Mubarak delivered the opening address at an event organised by the High-Level Champions and the Global Mangrove Alliance on The Mangrove Breakthrough. Launched at COP27 - UN Climate Change Conference as part of the Sharm el Sheikh Adaptation Agenda, the Mangrove Breakthrough aims to secure the future of 15 million hectares of mangroves globally by 2030.

Our Ocean Conference 

At a time when climate change, marine pollution and devastation of marine life have reached increasingly alarming levels, the recent Our Ocean Conference in Panama brought together governments, businesses, and civil society to urge action on policies to protect our ocean’s health.

Since its inception in 2014, participants in over 70 countries have announced commitments worth more than USD 108 billion and protected more than five million square miles of ocean.

H.E. Razan Al Mubarak delivered a virtual keynote speech for the event - Future of Reefs: during which she underscored the urgent need to protect and restore coral reefs given the ecosystem is critical to the resilience of over one billion people globally.

In addition, Ms. Al Mubarak highlighted the potential of offshore wind to provide more than enough energy to power the world four times over in a virtual address to the session; ‘Gigawatt Dreams to Reality: Realizing the Global Potential of Offshore Wind to Avert a Climate Crisis.’

During the Our Ocean Conference, the High-Level Champions co-hosted a session on Decarbonizing shipping: A Pathway to Achieve the Paris Climate Goals and Promote Sustainable Blue and Green Economies. The session highlighted how ambitious targets and strategies to decarbonize shipping can provide economic opportunities such as green fuel projects or new port infrastructure in regions like Latin America and the Caribbean with the dual benefit of aligning with the #ParisAgreement goals and driving investment in developing countries.

The shipping sector: Racing to Zero

Call to action: Committing to #ScienceBasedTargets.

Launched during the IMO Intersessional Working Group on Reduction of GHG emissions from Ships in December 2022, the  Science Based Target Setting Guidance for the Maritime Transport Sector is the world’s first framework for companies in the maritime sector to set near- and long-term science-based targets in line with 1.5°C.

The Science Based Targets initiative Maritime Guidance gives companies the opportunity to cut emissions at the pace required to keep the 1.5°C goal within reach.

Its website invites organisations within the maritime sector to step up climate action by setting science-based targets and commitments.

Maersk: Charting a course to a #NetZero future

Listen to an interview with  Concepción Boo Arias , Maersk Director of Global Partnerships & ESG, Public & Regulatory Affairs in which she sets out the challenges and opportunities for the sector in 2023.

Making Carbon Markets Work For Africa

At COP 27, African countries launched the Africa Carbon Markets Initiative (ACMI) to produce 300 million carbon credits annually. The initiative seeks to unlock USD 6 billion in revenue and create 30 million jobs by 2030.

To follow up on this work and build on the momentum of carbon markets in Africa, the UN Economic Commission for Africa (UNECA) and African Export-Import Bank (Afreximbank) convened the 2023 African Business Forum under the theme “Making Carbon Markets Work for Africa” in Addis Ababa, Ethiopia.

The one-day forum brought together governments, private investors and civil society to facilitate investments in bankable projects that deliver meaningful climate action as well as generate high integrity carbon credits for Africa to accelerate investments and financing for sustainable development.

Speaking at the African Carbon Markets: A New Era of Growth session of the forum, Dr. Mahmoud Mohieldin , UN Climate Change High-Level Champion for COP 27 stressed that the success of ACMI would put the continent on a pathway to a net zero resilient future.

He said that carbon markets are an innovative and sustainable solution to the climate and development finance crisis in Africa with analysis by UNECA showing that a global carbon price of USD 50/tonne can incentivise Africa to mobilise up to USD 30 billion per annum.

In addition, Dr. Mohiedlin stressed the need to reduce dependence on debt to finance climate action as borrowing instruments represent over 60% of climate financing worldwide and more than 80% of the tools for financing climate action in developing countries.

He also stated that instead of separating #ClimateAction and development, a more holistic approach is needed to tackling climate change which integrates into all #SustainableDevelopmentGoals (SDGs).

In Case You Missed It

● UN delegates have reached an historic agreement on protecting marine biodiversity in international waters. The agreement reached by delegates of the Intergovernmental Conference on Marine Biodiversity of Areas Beyond National Jurisdiction (BBNJ) is the culmination of UN-facilitated talks that began in 2004. Already being referred to as the ‘High Seas Treaty’, the legal framework would place 30 per cent of the world’s oceans into protected areas, put more money into marine conservation, and covers access to and use of marine genetic resources.

●     More than 100 countries have backed Vanuatu’s attempt to seek accountability for the climate crisis at the world’s top court. Of the 193 United Nations member states, 105 have now supported the Pacific Island’s call to request that the International Court of Justice (ICJ) gives an advisory opinion on states’ legal obligation for climate action and the consequences of causing harm. Nations including countries from Europe, Australia, Canada, Vietnam, Colombia and Bangladesh, are co-sponsoring the draft resolution, which must be put to the whole UN to approve.

●     At the UN Security Council, Secretary-General António Guterres called on countries to urgently reduce emissions to "address the root cause of rising seas, the climate crisis". Additionally, he called on them to provide climate finance to developing countries to help them adapt and build resilience against this threat. Addressing the 52nd session of the UN Human Rights Council in Geneva, he also underlined the link between human rights and an escalating climate crisis. “Unless humanity kicks its addiction to fossil fuels now, critical climate tipping points will crush the human rights of generations to come“, Guterres said.

●     In a message delivered at the Second Zero Carbon Cities International Forum that was held in Tokyo, Japan early March 2023, the UN Climate Change Executive Secretary Simon Stiell  underlined how cities are where the fight against climate change will be won or lost and that the Global Stocktake must be more than “yet another synthesis report. It must be the tool we use to get on course”, he said.

●     The Middle East and North Africa (MENA) region is one of the most vulnerable to physical climate change impacts, putting human activities and natural systems at high risk according to a report by the United Nations Environment Programme, Finance Initiative. It states that immediate action to accelerate adaptation finance is critical to address the climate adaptation gap and lessen or prevent potential climate change risks. The report also addresses the risks of climate change in the MENA region, the resulting economic impacts, and how banks are currently responding to climate risks.The results of the study include recommendations to scale up finance for adaptation and resilience in the region based on desk-based research, a survey of regional banks, and interviews with a sample of commercial and development finance institutions.

●     A new study has shown that foods that come from the ocean or freshwater, known as "blue foods," have the potential to address several important global issues, including nutritional deficits, disease, and climate change. The Blue Food Assessment is a worldwide collaboration of more than 100 scientists whose focus is on using blue foods to evaluate and develop healthy, equitable and sustainable food systems.

●     Indonesia has launched the first phase of mandatory carbon trading for coal power plants, part of efforts by Southeast Asia's biggest economy to boost renewable energy and achieve net zero emissions by 2060. Coal makes up more than half of Indonesia's power generation. The first stage of a carbon trading mechanism will cover 99 power plants with a total installed capacity of 33.6 gigawatt directly connected to power grids owned by state utility Perusahaan Listrik Negara (PLN). Last year Indonesia set a target for reducing carbon emission by 31.89% on its own, or 43.2% with international support, by 2030.That compared to its 2015 Paris Agreement pledge to cut emissions by 29% or 41% with international help.

●     The recent technical analysis of biennial update reports (BURs) undertaken by the UNFCCC secretariat has concluded that four developing countries - Burundi, Pakistan, Vanuatu, and Mexico are making considerable efforts to cut greenhouse gas emissions. They have been demonstrating that effective climate action is possible and can be further scaled up with adequate financial, technical, and capacity-building support.

●     Under the Paris Agreement, all countries need to report on how they are pulling their weight in terms of climate action. This is essential for global accountability and building trust. A wave of new reports is expected by the end of 2024. 124 lead review experts from 59 countries gathered in Bonn last month to prepare and discuss how countries can step up the transparency of their climate actions.

●     The key findings of a new International Renewable Energy Agency (IRENA) and Climate Policy Initiative report stated that there were globally record levels of investment in clean energy last year - up 19% compared to 2021 levels. But investments particularly in developing countries must significantly rise to avoid the most dangerous impacts of climate change.

●     A new report by Climate Central shows how US capacity to generate renewable energy shot up last year. National wind and solar capacity grew 16% compared to 2021. All told, renewables generated enough electricity to power 64m American households. The report comes as the US administration starts to make billions of dollars available for renewable energy projects. The administration has committed to decarbonizing the grid completely by 2030 and getting the US to net zero emissions by mid-century and according to Jennifer Brady, a senior data analyst at Climate Central; “We are moving closer to the goals we need to reach in order to hit net zero.”

●     New data from the International Energy Agency (IEA)  shows that one in every seven cars sold globally is now an EV. EVs' share of sales has risen from one-in-70 just five years ago. At the same time, conventional car sales have fallen by a quarter. In addition, according to another recent IEA report, around 70% of methane emissions from fossil fuel production can be reduced with cheap and readily available technologies.

For more news from across the Race to Resilience and Race to Zero Communities, check out climatechampions.unfccc.int and Marrakech Partnership for Global Climate Action/UNFCCC.

Keeping up with the Champions

●     At the Women’s Pavilion at Expo City Dubai H.E Razan Al Mubarak shared her journey and leadership on protecting the environment and highlighted the role of women in the field of climate action and nature conservation. Watch a highlight video here.

●     The Green Climate Fund (GCF) appointed Dr. Mahmoud Mohieldin as the facilitator for the Fund’s second replenishment process, critical to attaining the global collective goal of ambitious and accessible climate finance 

●     Dr. Mohieldin addressed a wide array of private sector players in Egypt and the MENA region at the 11th Annual AmCham MENA Regional Council Conference - “Accelerating Green Investments in the MENA Region: U.S. and Regional Partnerships for Growth”. In his remarks, he emphasised the vital role of non-Party stakeholders in mobilising climate finance, especially towards adaptation, which receives less than 20% of global climate finance raised.

●     At the International Conference on Smart Cities, hosted by Ain Shams University in Egypt, Dr. Mohieldin underscored technology as an indispensable enabler for cities to combat climate change.

●     Dr. Mohieldin participated in a closed-door roundtable jointly hosted by Chatham House and Paris Peace Forum looking ahead to the Summit for a New Financing Pact hosted by French President Emmanuel Macron this June. During the meeting, Dr. Mohieldin underlined the detrimental effect sovereign debt distress currently has on climate action and called for urgent reform to the global financial architecture to mobilise funds using innovative means of financing such as debt-for-climate swaps. 

Mark Your Calendar

●     Africa Health Agenda International Conference 5-8 March

●     Second Part of the Fifth UN Conference on the Least Developed Countries (LDC5), 5-9 March

●     Aspen Ideas: Climate 6-9 March

●     Commission on the Status of Women 6-17 March

●     4th meeting of the Article 6.4 Supervisory Body, 7-10 March

●     Twenty-third meeting of the Adaptation Committee (AC23), 7-10 March

●     International Women’s Day 2023, 8 March

●     Fifth Technical Expert Dialogue under the Ad hoc Work Programme on the New Collective Quantified Goal on Climate Finance, 8-10 March

●     3rd Global Soil Biodiversity Conference 13-15 March

●     58th session of the IPCC (IPCC 58) 13-17 March

●     World Summit on the Information Society (WSIS) Forum 2023, 13-17 March

●     UN Development Cooperation Forum 2023 14-15 March

●     Arab Forum for Sustainable Development 2023, 14-16 March

●     35th Meeting of the GCF Board, 13-16 March

●     Consumers International: "Empowering Consumers through the Clean Energy Transitions" 13-17 March

●     Transforming transportation 2023 : World Bank Headquarters, Washington D.C. March 14-15

●     World Consumer Rights Day, 15 March

●     Partnership for Healthy Cities Summit 2023, 15 March

●     IADB Annual meeting 16-19 March

●     Monaco Blue Initiative 19-20 March

●     International Day of Forests 2023, 21 March

●     World Water Day 2023, 22 March

●     UN 2023 Water Conference 22-24 March

●     117th meeting of the CDM Executive Board, 22-24 March

●     World Meteorological Day 2023, 23 March

●     Asia-Pacific Forum on Sustainable Development 2023, 27-30 March

●     VIII Latin American Forestry Congress and V Argentine Forestry Congress, 27-30 March

●     9th Berlin Energy Transition Dialogue, 28-29 March

●     2023 UNECE Regional Forum on Sustainable Development, 29-30 March

●     Economist Sustainability Week, 29-31 March

●     International Day of Zero Waste 2023, 30 March