Aman, Jordan, 23 November 2023 – In a significant stride towards climate action, the Ministry of Environment (MoEnv), in collaboration with the Global Green Growth Institute (GGGI) hosted the Second Public-Private Dialogue on Climate Finance in Jordan. The event aimed to underscore the pivotal role of the private sector in achieving national climate change goals, as highlighted by ENG.Bilal Shqarin, the Director of the Climate Change Directorate.
One of the main outputs of the current GCF Readiness project is institutionalizing a public-private engagement mechanism for attracting private investment in national climate actions. The mechanism will support the development of a Private Sector Roadmap for the MoEnv to support consistent and constructive engagement with the private sector on climate change.
ENG. Bilal Shqarin, the Director of the Climate Change Directorate, in his keynote address, said that ‘’despite contributing a mere 0.06 percent to global CO2 emissions, Jordan has been actively engaged in implementing climate-responsive projects focused on emissions reduction’’. He emphasized the importance of a collaborative approach between the public and private sectors, acknowledging the private sector as a key partner in realizing climate objectives.
The dialogue session sought to identify challenges and gaps faced by the private sector in investing in green economy projects. The ultimate goal is to establish an effective roadmap for fostering public-private partnerships in climate-related initiatives. Shqarin underscored the need for climate-responsive policies, citing examples such as the European Union’s Carbon Border Adjustment Mechanism (CBAM), which imposes tariffs linked to CO2 emissions on specific imports.
Christophe Assicot, GGGI Jordan Country Representative, affirmed GGGI’s commitment to collaborating with local partners to enhance access to climate finance in Jordan. “The Private Sector Roadmap, a focal point of the discussion, aims to provide the Ministry of Environment with a mechanism for engaging effectively with the private sector on national climate action projects. The ultimate objective is to secure approval for several private investment projects by the Green Climate Fund (GCF) within the next five years,” Mr. Assicot said.
During the dialogue session, GGGI representatives led an interactive discussion, presenting the components of the roadmap with the participation of stakeholders from both the public and private sectors. GGGI emphasized a consultative and participatory approach with the government to identify opportunities, set clear targets, and drive investments in priority sectors through policy interventions and project ideas.
The roadmap places emphasis on key areas, including policy enhancement and implementation, climate finance, knowledge and awareness, research and development, as well as project identification and pipeline development. By addressing these critical components, the collaboration between the public and private sectors aims to create a sustainable and resilient pathway for Jordan’s businesses amid the global green transition.