Background
Mountains provide freshwater to half of the world’s population, while half of the global bio-diversity hot sports are also in the mountain regions. The Himalayan region alone provides freshwater and other services to 1.3 billion people (ICIMOD, 2020). Climate change impacts in the mountains have recently increased, exposing multiple hazards such as loss of glacier mass, landslides, glacier lake outburst floods, avalanches, snow storms, etc. These extreme events mean compounding problems related to socio-economic and environmental issues that negatively affect the lives and livelihoods of billions of people and ecosystems worldwide.
While addressing climate change is imperative, it also allows developing countries to move toward a green economy by creating green jobs, promoting clear and renewable energy and creating an environment where green investment can play a significant role in addressing socio-economic issues. The investments on mountain solutions can be enhanced through the adequate provision and mobilization of climate finance from all sources, including public, private, and innovative, is necessary for adequate action. For greater actions in the mountains, partnership and cooperation among national, regional, and international communities is also imperative.
This session will highlight mountain prospective on the resources and opportunities that exists and is needed to harness mountain partnership for enhance knowledge generation and exchange among the mountain countries through regional and global collaboration.
Climate actions in developing countries should promote green, resilient and inclusive development. Any investment that spurs a green economy must facilitate a transition towards a more sustainable and resilient economy that prioritizes climate and environment, focusing on social equity and justice. A climate-friendly economy must address food insecurity, water stress, energy poverty and overall human well-being. It should consider meeting the needs of the present and future generations by focusing on ideas such as green jobs and environmentally friendly innovation. Economic growth that does not go hand in hand with the climate and environmental goals in an inclusive manner is inadequate for sustainable development.
For many countries, hydropower, primarily generated in the mountainous regions, is the primary clean and renewable energy source. In the context of changing climate, it is also considered one of the best alternatives as it significantly helps reduce greenhouse gas emissions. However, according to the IPCC AR6, climate-change-driven changes in precipitation, river flow regimes, and landslides affect the production and use of energy in mountain regions, in particular hydropower. The report further states that billions of dollars in investment and energy production assets are exposed to changing mountain hazards. This significantly concerns climate-vulnerable countries as it exacerbates energy poverty, water
Climate finance is urgent for the mountainous region to combat climate change impacts and enhance the resilience of the communities. Financial resources can address adaptation, mitigation and loss and damage in mountain communities. The mountain region, which is hugely climate-sensitive, fragile, and has difficult terrain, already makes life and livelihood of mountain communities challenging, especially for communities that rely on agriculture, tourism, and local natural resources. Adequate, predictable, and flexible climate finance from a variety of sources, including public, private, and innovative sources, will be crucial in fostering a low-carbon and climate-resilient socio-economic development pathway.
The private sector, in particular, can play a pivotal role in generating green jobs, promoting clean and renewable energy, and greening overall investments in mountainous countries. While domestic finance is significant, international public and private finance will be essential in resource-constrained countries. International communities must enhance financial and technological support to build a green and resilient mountain economy in developing countries.
To tackle climate change, partnerships and collaboration among states and non-state actors are necessary. Climate change is a global issue that affects the local level and goes beyond borders; hence, strengthened partnerships among stakeholders at regional and international levels are necessary. Climate change also disproportionately affects the poor and vulnerable communities; many mountain communities fall under this category, so collaboration can help prioritise the interests of these marginalised communities in a fair and equitable manner.
Collaboration among multi-stakeholders to share financial resources, knowledge, expertise, and technology is not just beneficial but indispensable in achieving the goals of the Paris Agreement in mountain regions. Through these partnerships, we can foster adequate climate actions and ensure a sustainable future for our mountains and mountain communities, particularly in developing countries.
This session will have 3 moderators, 3 keynote speakers and 4 panelists in each of the sub-themes. It is expected that this session will bring knowledge and experiences on the understanding of green, resilient, and low-carbon development pathways in the mountain economy in the context of a changing climate. It will further highlight the urgency of green investment and sources of finance—both domestic and international, including the role of the private sector in green investment, the creation of green jobs, and its contribution to helping countries move towards a low-carbon future are discussed and advanced. The aim is to foster partnerships and collaboration among states, regions, and non-state actors for advancing enhanced climate actions in mountain countries.