2018 UfM Climate Week in Barcelona | 23-25 April 2018.
The Mediterranean region is one of the world’s climate change hotspots where the rise of temperature by 1.5°C, compared to pre-industrial levels, the lower limit not to be surpassed as agreed through the Paris Agreement, is at risk of being exceeded in the coming years. The UfM Climate Week taking place these days in Barcelona is gathering a wide range of actors (UfM members, UNFCCC -United Nations Framework Convention on Climate Change- and European Union representatives, youth networks, international financial institutions, scientific experts…) around different topics, all related to climate action in the Mediterranean region. It’s the opportunity to create and enhance synergies among them and to enrich the discussions and exchanges on climate change challenges in the Mediterranean region.
The discussions have focused on several issues of great concern for the Mediterranean region and the members of the UfM such as climate finance, which will identify, develop, and scale new financial tools for a low carbon, climate-resilient transition.
The follow up of the UfM Climate Finance Study, presented at COP23, was discussed. The UfM Climate Finance Study presents an overview on the state of climate finance in the East and South of the Mediterranean. The study reveals that the Southern and Eastern countries of the Mediterranean region have received USD 6.8 billion in climate financing per year between 2013 and 2015, according to OECD, which represents from 11% to 16% of the worldwide funding for climate finance. It shows that there is a window of opportunities for an enhanced and coordinated regional action, notably through the promotion of region-wide projects focused on climate change adaptation and the active involvement of the private sector.
Two specific sectoral reports, respectively on tourism and agriculture and currently under preparation, have been introduced to the UfM CCEG members.
[Photo by Union for the Mediterranean | Flickr]