Pre-COP27 UNECE Regional Forum warns action urgently needed on sustainable financing and use of Critical Raw Materials
Without scaled-up efforts to finance and sustainably manage the Critical Raw Materials needed for a rapid renewables and clean energy shift, countries of the pan-European region and North America will face huge challenges to deliver on the Paris Agreement and Sustainable Development Goals, the final pre-COP27 UN Regional Forum warned. Putting the spotlight on the huge investment gap and pointing to available solutions, the Forum - organized by UNECE in partnership with the Egyptian Presidency of COP27 and the UN Climate Change High-Level Champions for COP26 and COP27 - underscored the transformative potential of targeted financing for ambitious climate projects, while stressing the key role of UN tools to mitigate environmental, social and ethical risks.
Seeking to translate this into action, the Forum discussed investment projects from across the region, shaping a portfolio of thirty high-impact climate action projects, focused on areas from scaling up renewables deployment to means of energy storage, and from critical raw materials to waste and digitalization, ten of which will be presented at COP27 as part of a UN compendium of climate finance initiatives. They are a sample of a much larger universe of projects and initiatives that exist in the UNECE region. Read more