Side Event on ‘Harnessing freshwater, wetlands and coastal and marine ecosystems through Source to Sea and WEFE Nexus approaches for a net-zero transition’, 16.00-17.00
and
High Level Segment on ‘Fostering adaptation and mitigation co-benefits in the freshwater- coastal- marine ecosystems continuum: Leveraging opportunities and mobilizing finance for resilient and net-zero development’, 17.00-17.30
18 November 2024, at the Water for Climate Pavilion
The potential of the Water sector for reducing Greenhouse Gas (GHG) emissions is significant. Recent findings by the Voluntary Carbon Markets Integrity Initiative (VCMI) indicate that the global water sector could save approximately 4% of the world's carbon emissions, translating to over 1.3 billion CO2 of mitigation potential annually. Mitigation strategies in the Water sector often provide adaptation co-benefits that enhance resilience against climate change. The Water-Energy-Food-Ecosystems (WEFE) Nexus, Source-to-Sea (S2S), and Nature based Solutions (NbS) approaches provide frameworks to reduce water footprint, enhance water resilience, and achieve adaptation and mitigation co-benefits.
Furthermore, water management accounts for at least 10% of global emissions, yet receives less than 2% of global climate finance. Investing in increasing energy efficiency in water systems and utilities, and the conservation of natural ecosystems like wetlands, Posidonia Oceania beds, meadows, etc to enhance their carbon sequestration capacity, can contribute significantly to reduce GHG emissions and consolidate mitigation efforts.
During the Resilient Mitigation Day at the Water for Climate Pavilion Day, the Global Water Partnership Mediterranean (GWP-Med), WINZ and Nature Conservancy, convene a Side Event (16.00-17.00) and the High-Level Segment (17.00-17.30) to advocate for enhanced coordination between the sectors to ensure alignment of water related climate adaptation and mitigation strategies and related finance mobilisation. The events are organised, among others, within the framework of the GEF UNEP Mediterranean Action Plan MedProgramme/SCCF Project.
Draft Concept Note & Agenda of the events in the margins of the COP29 here.