Sustainable financing is a critical factor in fulfilling the targets of the 17 Sustainable Development Goals
From 6th to 18th November 2022, Egypt hosted the 27th Conference of the Parties of the UNFCCC (COP27) in Sharm El-Sheikh, bringing together 46,000 participants and 112 heads of State under numerous thematic pavilions to showcase climate action around the world and across different sectors.
The Practitioners' Network Co-Presidency chaired by FIIAPP and SNV, actively participated in the COP’s first-ever Food Systems Pavilion co-hosted by SNV. SNV’s CEO, Simon O'Connell represented the PN as co-President in several events and panel discussions with the aim of:
- highlighting the importance of partnerships for joint, coherent and structured responses to global challenges such as food insecurity, climate change, and the relevance of technical cooperation in such partnerships.
- networking with key strategic partners to deepen collaborations and pursue common strategic objectives.
The PN, was represented by the co-Presidency and with the participation of several other Members engaged in fruitful discussions. Some of the main topics were the following:
- Understanding the identification of best practices around blended finance to support the sustainability of food systems with a focus on improving access to finance for local food system actors and local financial intermediaries.
- Exploring how financial institutions can cooperate with donors and implementing agencies to channel investments in scalable solutions for the future of climate-smart food systems in low-income countries.
- Acknowledging the need to promote broader partnerships among actors involved in the transformation of food systems (both from the public and private sector), and to build bridges between financial and technical cooperation to maximize development effectiveness and mobilising public-private investment to fund impact at scale.
Moreover, ECDPM presented the Practitioners’ Network study, commissioned by the European Think Tank Group (ETTG) on “Enhancing coordination between European donors, development agencies and DFIs/PDBs.” The study draws insight to improve synergies among key actors and to overcome existing challenges such as:
- Foster better coordination and stronger partnerships between the donor community and financial actors with a the objective to scale up.
- Take a “piloting approach” to test ideas, projects under the idea of risk-aversion.
- Focus on longer-term perspectives.
In conclusion, COP27 showed once again that our impact is #StrongerTogether if implementing agencies and DFIs provide better incentives, accountability, and transparency mechanisms to unlock finance for climate adaptation and mitigation, global health and sustainable and resilient food systems. Sustainable financing is a critical factor in fulfilling the targets of the 17 Sustainable Development Goals. Only by #WorkingTogether, we will manage to achieve important progress and accelerate actions to address the pressing challenges that affect our climate, agriculture, food systems, and ultimately food security.
Watch all Food Pavilion Systems information