Amidst the dynamic atmosphere of COP28 in Dubai, Lebanon’s Caretaker Minister of Environment, Nasser Yassin, revealed Lebanon’s proactive stance against the looming threat of climate change. This revelation, a culmination of collaborative endeavors between the Ministry, the United Nations Development Programme (UNDP), and other partners, introduced a groundbreaking green investment facility.
This strategic leap underscores Lebanon’s commitment to fortifying its environmental strategies, aligning comprehensively with its Fourth National Communication on Climate Change and ambitious Nationally Determined Contributions (NDCs).
Minister Yassin, speaking exclusively to the National News Agency on the sidelines of the Climate Conference in Dubai, underscored the significance of this pivotal development.
“Today marks a watershed moment as the Ministry of Environment announces the establishment of a green investment facility in collaboration with the UNDP and other partners over the past year,” expressed Minister
Yassin.
Delving deeper into the operational mechanics, Minister Yassin added, “This autonomous facility, in collaboration with the ‘Lebanon Economic Empowerment Fund,’ operates under European financial standards, assuring governance and transparency.”
Lebanon’s recently unveiled Fourth National Communication on Climate Change, a testament to robust collaboration supported by the UNDP and funded through the Global Environment Facility (GEF), meticulously analyzes Lebanon’s carbon footprint, vulnerabilities, and projections. Serving as a guiding compass, this report illuminates imperative calls for immediate climate interventions, steering policy formulation towards resilience and adaptation.
In lockstep with this, Lebanon’s NDCs, intricately woven into the fabric of the Paris Agreement, advocate a resolute 20% unconditional reduction in emissions by 2030. Minister Yassin accentuated the green investment facility’s instrumental role in aligning with these ambitious targets, fostering an ecosystem conducive t
o private investments that invigorate climate-friendly initiatives.
‘The green investment facility strategically channels investments into pivotal sectors: renewable energy, sustainable transportation, solid waste management, agriculture, and irrigation,’ Minister Yassin explained.
The Environment Minister further highlighted productive dialogues with global entities, including the World Bank, the Green Climate Fund, and the Nationally Determined Contributions Partnership, aiming to bolster collaborative efforts in accessing climate finance and advancing Lebanon’s environmental initiatives.
“I’ve held a productive meeting with Ms. Mesky Brhane, Regional Director at the World Bank. Discussions touched on the ongoing collaboration between the Ministry of Environment and the World Bank on several upcoming projects. These initiatives will focus on solid waste management and combating forest fires,’ Yassin said, noting that an agreement has been reached to launch the first report on ‘Climate Change and Developm
ent in Lebanon’ early next year.
‘I’ve also held productive meetings on the sidelines of COP28 with Henry Gonzalez, Deputy Director of the Green Climate Fund, and Pablo Vieira, Director of International Cooperation in the Nationally Determined Contributions Partnership. We’ve agreed to enhance cooperation with Lebanon’s Ministry of Environment to improve preparedness in leveraging climate finance,’ Yassin added.
Lebanon’s susceptibility to climate change, evident in shifting weather patterns, rising sea levels, and intensifying natural disasters, paints a dire backdrop. However, the launch of the green investment facility illuminates Lebanon’s unwavering resolve to confront these challenges comprehensively. This stride epitomizes a holistic approach to environmental sustainability amidst the nation’s myriad adversities.
Moreover, Minister Yassin emphasized the pivotal need to adapt Lebanon’s healthcare system to climate exigencies. Collaboratively with the Ministers of Environment and Health, Lebanon reass
erted its commitment to erecting a resilient healthcare system, aligning with COP26’s “The Alliance for Climate Action on Health (ATACH)” initiative.
Amid an unparalleled economic crisis and escalating security concerns along its southern borders, Lebanon sees the green investment facility as a beacon of hope, showing its strong commitment to fighting climate change. Through collaboration and adherence to global climate goals, this effort represents Lebanon’s path toward a sustainable future. Supported by global alliances and a firm commitment to the environment, Lebanon is determined to build climate resilience.
Source: National News Agency-Lebanon