The OPEC Fund for International Development’s Post

JUST IN! The Arab Coordination Group (ACG) pledges US$10 billion by 2030 to combat #desertification and #landdegradation. The landmark commitment was announced during the Ministerial Dialogue on Finance “Unlocking public and private finance for land restoration and drought resilience” at #COP16Riyadh today. The #OPECFund’s commitment entails a US$1 billion pledge to the Riyadh Drought Resilience Partnership. This transformative commitment, made as part of a joint communiqué issued by the Heads of #ACG Institutions, will drive #landrestoration efforts, enhance #climateresilience and promote nature-positive #development across vulnerable regions. ACG members will leverage innovative financing instruments, mobilize resources and strengthen #partnerships to support sustainable land management, #biodiversity conservation and #foodsecurity, particularly in the Middle East, North Africa and the Sahel. “The OPEC Fund is proud to contribute to this landmark pledge, which represents a decisive step in addressing the challenges of desertification and land degradation. Our substantive pledge of US$1 billion to the Riyadh Drought Resilience Partnership, reflects our commitment to restoring degraded lands, building resilience and improving livelihoods in affected regions,” said Dr. Abdulhamid Alkhalifa in his opening remarks during the Ministerial Dialogue. For more information: bit.ly/3OAiKom #OPECFundAtCOP16 #ACGAtCOP16 #COP16

Over $12 billion has been pledged at the 16th Conference of the Parties to the UN Convention to Combat Desertification (COP16) in Riyadh, marking a significant step in the global fight against land degradation, desertification, and drought resilience. These pledges include major contributions from the Arab Coordination Group, the launch of the Riyadh Global Drought Resilience Partnership, and significant backing from key institutions such as the OPEC Fund, the Islamic Development Bank, and Saudi Arabia. Key Highlights: - $10 billion commitment from the Arab Coordination Group for land restoration and drought resilience. - $1 billion each from the OPEC Fund and Islamic Development Bank, with $150 million from Saudi Arabia for the Riyadh Global Drought Resilience Partnership. - A call for redirecting Official Development Assistance funds to address land degradation. Despite these impressive pledges, the UNCCD’s financial needs assessment reveals a gap, with an annual requirement of $355 billion from 2025 to 2030, far exceeding projected investments of $77 billion. As COP16 progresses, the urgency is clear: international public and private sector collaboration is needed to close the financing gap and drive impactful change. #COP16 #LandRestoration #DroughtResilience

🌎 Today, the UN Sustainable Development Solutions Network (SDSN) is in Riyadh, Saudi Arabia for the UN Convention to Combat Desertification’s (UNCCD) COP16. Government representatives, scientists, and civil society are convening to assess and adopt global efforts to combat land degradation and desertification and to strengthen resilience. Explore SDSN’s COP Resource Hub to learn more about the key issues at stake at the UNCCD COP16, our calls to action, necessary outcomes, and helpful resources: https://lnkd.in/ePh8pG_Z #COP16Riyadh

As UNCCD #COP16Riyadh continues in Saudi Arabia, the International Year of Rangelands and Pastoralists (IYRP) Global Alliance is excited to be part of this global conversation. We have eight Science-Based recommendations on Land Degradation Neutrality (LDN) in Rangelands for @unccd COP Member States and other partners to achieve sustainable rangeland management. What are these recommendations? We shall be sharing them throughout COP16, highlighting actions like: • Halting the conversion of rangelands for unsustainable uses. ❌ • Increasing investments in rangeland restoration, including through the LDN Fund. [Learn more: at IYRP LDN Working Paper, March 2024 (https://lnkd.in/eEHmJ6HA)] • Empowering pastoralist communities as key stewards of these critical ecosystems. Join us tomorrow for our side event at 17:00 GMT+3. https://lnkd.in/dfinPjcc #IYRP Fiona Flintan

The African Development Bank will participate in the sixteenth session of the Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification (UNCCD), taking place in Riyadh, Saudi Arabia, from 2 to 13 December 2024. As a key observer and partner of the UNCCD, the African Development Bank will leverage #COP16 to: ✅ Highlight Africa’s priorities on desertification, land degradation, and drought through strategic engagements and leadership in key events. ✅ Co-host high-level events with the African Union and the UNCCD Secretariat, including the ministerial roundtable on mobilizing resources for the Great Green Wall initiative. ✅ Engage with the African Group of Negotiators on desertification and land degradation and other key stakeholders to strengthen the African common position, including advocacy for a legally binding Protocol on drought. ✅ Disseminate knowledge, highlight Bank’s initiatives, and strengthen partnerships to scale up sustainable land management efforts globally, and particularly in #Africa. More details on the Bank at #COP16Riyadh: https://bit.ly/4gbLL5Q #OurLandOurFuture

Healthy and fertile land is one of the global commons that underpin the planet's life support systems and human well-being 🌱 Yet up to 40% of the world’s land is degraded, directly impacting 3.2 billion people. That’s why the 16th Conference of the Parties of the UN Convention to Combat Desertification Combat Desertification (#UNCCDCOP16) in Riyadh, Saudi Arabia is so important. Both Earth Commission Co-Chairs will be present at the summit, and Professor Fatima Denton will be speaking at the following events: - 4 December, 18:00-19:30 (MET), ‘Making Voluntary Carbon Markets Work for Africa’s Sustainable Future’ - 6 December, 17:30-18:30 (MET), Safeguarding Africa’s Carbon Sinks: Local Governance for Sustainable Land Management’ 🔗 See the UNCCD COP16 program: https://lnkd.in/eg3ZmjAR #SafeAndJust #EarthSystemBoundaries

🌍 Exciting News from Desertification COP-16 in Riyadh! 🌟 Cibola Partners and enerQA are proud to announce our participation in a side event at the 16th Conference of the Parties (COP16Riyadh) to the UN Convention to Combat Desertification (UNCCD) held last week. The event focused on Iraq's climate investment needs. This gathering brought together global stakeholders to address critical issues such as desertification, land degradation, drought, and climate change financing—challenges that are of paramount importance to Iraq's environmental and economic future. Hosted by UNDP Iraq and Iraqi authorities, the event highlighted: - Innovative financial solutions for combating desertification in Iraq and adapting to climate change, with a success story from an experience in Mainstreaming Climate Finance through the Establishment of a Climate Change Unit within the Ministry of Finance, and sharing a case study in another country (Sudan) - The role of public-private partnerships in advancing sustainable development - Renewable energy initiatives and their potential to enhance climate resilience, such as the Role of Youth Incubators in Supporting and Responding to Climate Action (e.g. UNCCD Youth Caucus) Our participation reaffirmed our shared commitment to sustainability, climate resilience, and environmental stewardship in the Middle East. #COP16 #UNCCD #ClimateAction #Sustainability #Riyadh #Desertification

Desertification affects 52% of agricultural land, costing 10% of global GDP and threatening food and water security for over 2.6 billion people. This demands urgent, transformative investments in integrated solutions across the water-energy-food nexus. At COP16, I had the privilege of moderating a session co-hosted by UNDP, UNCDF, ICC Saudi Arabia, and Desert Technologies, where leaders from the financial sector, private sector, and public sector explored a key question: How can we catalyze investments in sustainable energy for land and water management to build resilience and unlock development opportunities? 💡 Key Takeaways: 1️⃣ Financial Institutions: Innovative mechanisms such as blended finance, green bonds, and guarantees are essential to de-risk investments, mobilize capital, and scale solutions in high-risk regions. 2️⃣ Private Sector: The private sector plays a pivotal role in developing bankable renewable energy projects, mitigating risks, and fostering sustainable growth. 3️⃣ Media as a Catalyst: By amplifying success stories, media bridges gaps between stakeholders and beneficiaries, driving collective action and highlighting community resilience. Partnerships among financial institutions, sovereign wealth funds like Saudi Arabia’s Public Investment Fund, and international organizations are vital. These multi-sector collaborations are key to combating desertification, restoring ecosystems, and ensuring resilient livelihoods. 🌱 Our conversations at COP16 reaffirmed this: Innovative energy finance is not just an imperative—it’s an opportunity for a resilient future. #COP16Riyadh #OurLandOurFuture #EnergyTransition #EnergyForDevelopment⚡️

Excitement is building as Riyadh prepares to host COP16: this landmark event marks the first time the UNCCD Conference of the Parties has been held in the Middle East and North Africa (MENA) region, making it a historic opportunity for the region to showcase its commitment to sustainable land management. Hosting COP16 in Riyadh not only underscores the urgency of addressing land degradation and drought but also highlights the innovative solutions emerging from the region. The conference serves as a platform for leaders, policymakers, and stakeholders to engage in critical discussions on restoring degraded lands, enhancing drought resilience, and fostering partnerships that drive actionable change. Discover more about the significance of COP16 and what to expect in our latest article: https://owy.mn/4ic9dS8 hashtag #ClimateAction #Sustainability #UNCCDCOP16 #Riyadh #OurLandOurFuture Oliver Wyman UN Convention to Combat Desertification