The Secretariat of the Union for the Mediterranean (UfM) has actively participated in COP24 in Poland, where it has presented two studies on the impact of climate change and on the state of play of climate finance in the region. A call for action towards a shared Mediterranean Climate Agenda is crucial. Urgent policies are needed to mitigate environmental risks and consider adaptation options.
Aware of this challenge, the Union for the Mediterranean is supporting a dedicated regional effort to synthesise existing scientific knowledge across disciplines with the aim to provide a better understanding of the combined risks posed. This study is being undertaken by the Network of Mediterranean Experts on Climate and Environmental Change (MedECC).
Another UfM-commissioned regional study on international public climate finance highlights that the Southern and Eastern Mediterranean region has, in 2016, received an annual amount of around USD 8.3 billion to address climate financing. This represents 13% of the worldwide funding for climate action. The main beneficiary countries of the funding flows in the Mediterranean region are currently Turkey (38%), Egypt (22%), Morocco (12%), and Jordan (12%). Mitigation projects make up the majority of the funds obtained (transport and energy generation).