On November 8, 2022 DG NEAR has discussed the topic of 'Local climate action, finance and partnerships for climate action in the Southern Mediterranean' during a side event organised in the framework of the COP27 in Sharm el Sheikh (Egypt). 

The Mediterranean is one of the regions of the world where the impacts of climate change are most severe. The need to boost green investments is a challenge but also an opportunity to attract private finance in support of low-carbon growth. Rigorous systems will need to be in place to track and assess green investments, avoiding the risk of green washing.

Local authorities are uniquely positioned to identify the climate change adaptation responses that best meet local needs. The EU is cooperating with its Southern Neighbours to support their green transition and to help the region adapt to climate impacts, especially supporting local authorities to undertake investments needed to build climate resilience.