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COP23: Potential for NAMAs in Mediterranean Partner Countries

COP23: Potential for NAMAs in Mediterranean Partner Countries

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State 

completed

Date 

7 November, 2017

Summary

COP23 side-event, 7 Nov. 2017, 3.00-4:30 pm, EIB Pavilion, Bonn Zone

Mediterranean Partner Countries (MPCs) are estimated to need about €300 billion for infrastructure projects by 2030 in order to shift towards low emission and climate-resilient development pathways. To secure the level of private sector engagement needed to confront the effects of climate change, MPCs need to make institutional, legal and regulatory reforms, as well as create an enabling financial environment.

In 2017, the EIB and the EUEI PDF entered into a cooperation with the governments of the Mediterranean Partner Countries to conduct a study on the potential for Nationally Appropriate Mitigation Actions (NAMA) in the region. The study aimed to map existing energy-related NAMAs with respect to plans currently being proposed in Egypt, Jordan, Lebanon, Morocco, Palestine and Tunisia. The collaboration also focused on maximising private sector participation in the energy sector and identifying policies to improve the investment environment.

During the COP23, the EUEI PDF and the EIB drew on this experience in a dedicated side-event. The session addressed the topic with a twofold objective:

  • Outline to which extent NAMAs, as one of the existing mechanisms to channel climate finance, have been a useful vehicle to develop a pipeline of mitigation projects in the Mediterranean Partner Countries.
  • Touch upon the process for strengthening this pipeline with a focus on overcoming specific barriers and seizing opportunities in order to make projects bankable for financial institutions such as the European Investment Bank (EIB).

The event combined insights from the in-country analysis carried out by the project team, the perspective of EIB as a financial institution funding NAMAs and practical insights from stakeholders in the Mediterranean Partner Countries involved in NAMA development and implementation.

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Topics

  • Climate Change
  • Energy Efficiency
  • Energy Security
  • Renewable Energy

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