2 June 2022; 09:00 – 10:30 AM
Venue: Tonino Lamborghini International Convention Center Sharm El Sheikh (Suez Canal Hall)
OVERVIEW:
Climate impacts are worsening and the window of opportunity for action is closing rapidly, posing risks to sustainable development, with over three billion people living in vulnerable hotspots globally, many of whom are in developing countries. Adaptation and sustainable development are inextricably linked and mutually reinforcing. Despite progress on adaptation planning, widening gaps persist between planning and implementation. Adaptation action remains fragmented, incremental, unequally distributed, and takes place at small scales and short time horizons. Global temperatures are likely to reach or exceed 1.5 degrees Celsius above preindustrial levels in the next 20 years, breaking the target set under the Paris Agreement. While IsDB MCs are among the most vulnerable to the effects of climate change, countries have already begun adaptation actions. However, they are in need of more tailored support matching their national context and a stronger engagement of private actors.
KEY ISSUES TO BE ADDRESSED:
- How can countries move beyond incremental progress to achieve “transformational adaptation”?
- What is needed to close the adaptation financing gap and how can this be better linked to local and national planning, access to finance, capacity building support as well as broader public and private investment?
- How can actions on loss and damage, including cross border development, disaster risk reduction and humanitarian communities, be made more coherent?
- What are the challenges, best practices, and next steps for implementing commitments from the Glasgow Climate Pact and related declarations and pledges for key emitting sectors?
- How can COP27 accelerate the alignment of financing flows from all sources to meet the goals of the Paris Agreement, in the context of developing countries’ needs?
