Questions & Answers
Why is it important for NDF to participate to COP?
You ask: Why is it essential for NDF to be present at COP27? NDF replies.
Read our full Q&A here.
What is the COP process about?
UN Climate Conferences have taken place every year since 1995. The annual summits are an important space for stakeholders to discuss the climate crisis on a global level. This is where UN Member States who have signed the United Nations Framework Convention on Climate Change (UNFCCC) come together to find solutions.
This year, on 6-18 November, Heads of State, Ministers and negotiators, along with climate activists, mayors, civil society representatives and CEOs, will meet in Egypt, Sharm El-Sheikh.
COP27 will build on the outcomes of COP26 last year, to deliver action on an array of issues critical to tackling the climate emergency, such as urgently reducing greenhouse gas emissions, building resilience, and delivering on the commitments to finance climate action in developing countries.
What are the expectations for COP27?
COP27 is a critical summit for global climate action. To have a chance of limiting warming to 1.5 degrees, global emissions must halve by 2030 and reach net-zero level by 2050. The 2021 IPCC report states clearly that it is still possible to achieve the 1.5-degree-target but only if clear action is taken now.
While Glasgow (COP26) needed to show that 1.5 degrees can be kept within reach in a credible way, Egypt (COP27) needs to show the way from commitments to action. A successful outcome in Egypt requires developed countries to make clear steps towards the promise they made back in 2009 to mobilize $100 billion per year by 2020 to support climate action in developing countries. The goal has not yet been met.
The IPCC report is a wakeup call. It has a clear message: the window for action is narrow. Despite this, the report also provides hope and underscores that the technological and financial tools already exist to slow down the negative trajectory. The most important message is that action needs to happen now and that expression of solidarity to those impacted hardest are meaningless unless coupled with concrete and sufficient action.
Why is NDF participating?
COP27 convenes up to 200 delegations from across the world. In addition to the official negotiations the event is an important forum for the broad spectrum of leaders, institutions, organisations, activists and other stakeholders working to address climate change. This makes it an important event for NDF as a forum for outreach, partnership building and knowledge sharing.
Through participation in various events, discussions, and meetings, NDF seeks to create visibility for its role as an action-oriented climate finance actor, providing financing for projects and investments with a focus on the nexus between climate change and development.
In addition, NDF seeks to promote solutions for identified climate change and development challenges. In COP27 we showcase results of projects we have co-financed and discuss new initiatives with existing and new partners.
What are the expected outcomes for NDF?
At COP27, NDF will highlight the critical focus on adaptation action in the most vulnerable countries, and the role of flexible, early-stage climate financing that can make solutions reality.
Through various events, NDF will draw attention to the important role of multilateral institutions bringing together both public and private financiers. We will also highlight the critical role of the availability and quality of reliable climate data for effective planning and implementation of climate action. In all our action, we promote key Nordic values, such as gender equality, non-discrimination, and transparency.
Through organising events at the Nordic Pavilion, and by participating in other events, discussions, and meetings, NDF aims to raise awareness around NDF’s work and to reach out to existing and new partners for continued and new collaboration for effective and efficient implementation, as well as to keep abreast with the global climate and development agenda more broadly.
How can NDF contribute to a successful outcome of COP27?
NDF provides financing to both mitigation and adaptation activities within the nexus of climate change and development in lower-income countries. NDF is an action-focused tool of the Nordic countries to support the goals of the Paris Agreement and to accelerate transformative climate action in the countries and among the populations that are most vulnerable.
Through its financing, NDF provides different kinds of solutions for the financing of nationally prioritised projects implemented by public sector entities, especially the multilateral development banks in the focus countries. NDF co-finances projects through grants and concessionary loans with the goal of validating the project's concept and leveraging financing from other sources.
In addition, NDF identifies financing opportunities and acts as a matchmaker between the public and private sectors to help raise capital for demonstrably viable and scalable initiatives. These activities together contribute not only to the outcome of COP27, but also to a long-term green and resilient trajectory in line with the broader development agenda.
What are NDF’s key messages?
The Nordic countries have ambitious climate goals, and we strongly believe that we can do more by working together. NDF is an action-focused tool of the Nordic countries to support the goals of the Paris Agreement and to accelerate transformative climate action in the countries and among the populations that are most vulnerable.
NDF supports the global agenda and shows Nordic leadership through its clear focus, global partnerships, and flexible financing toolbox.
NDF puts emphasis on the need to act now. It provides concrete support to design, launch and scale-up of prioritised interventions. Furthermore, NDF emphasises the importance to provide co-financing in collaboration with strategic partners in a way that the collaboration amplifies the strengths of each contributing partner resulting in an impact which is larger than the sum of the financing provided.
