The Arab Conference for Cooperation on Climate Change aims primarily to strengthen and support the inter-Arab dialogue on climate change; to strengthen cooperation between states in facing negative repercussions of climate change drawing upon a science-based approach; to foster a common understanding among Arab and regional development institutions on ways by which green financial instruments can support the design and implementation of climate projects; to benefit from lessons learned from international and regional organizations in this field; and to launch joint regional Arab initiatives that contribute to supporting the efforts of Arab countries to combat climate change.
The Conference will provide an opportunity for Arab countries, Arab financial institutions, as well as regional and international organizations to discuss common priorities and best means to mobilize funding for adaptation and mitigation based on climate science and a common understanding of what constitutes green financing for climate action in the Arab regional context. This will be pursued with best practices on green finance globally among public and private financial institutions that contributed to the alignment of their project portfolios with established climate goals.
The Conference will also provide an opportunity for Arab financial institutions to study the possibility of expanding their role in supporting Arab cooperation to include collaboration in the field of climate change by establishing practical mechanisms to stimulate and support regional, and bilateral development and teamwork, in accordance with the needs and priorities of each country, capacity building and knowledge sharing in accordance with the needs and priorities of each country, and by engaging joint Arab projects and regional initiatives that can accelerate climate action.