The second edition of the Five Regional Roundtables will be organized by Egypt and UAE – respectively presidents of COP27 and COP28 – in cooperation with UN Regional Economic Commissions and UN High-Level Climate Champions (HLCs), Mohieldin said.

His remarks came during his participation in the opening session of the second edition of the Social Commission for Asia and the Pacific (ESCAP) held in Bangkok under the title "Financing Opportunities to Accelerate Climate Action and Advance the SDGs".

The forum, organized in partnership with the COP27 and COP28 presidencies and the UN High-Level Climate Champions (HLCs), brought together key figures such as Armida Salsiah Alisjahbana, Executive Secretary of ESCAP; Ambassador Wael Aboulmagd, Special Representative of COP27 President; and Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).

In July 2022, Egypt, as the President of COP27, unveiled an initiative to host five regional roundtables to catalyze investments in various climate sectors.

​These roundtables, organized by Egypt in collaboration with UN regional committees and UN High-Level Climate Champions (HLCs), were conducted as part of the first edition.

The inaugural and second roundtables were held in Addis Ababa and Bangkok in August, followed by the third and fourth roundtables in Santiago and Beirut in September.

The final roundtable of the first edition took place in Geneva towards the end of the same month.

In October 2022, Mohieldin emphasized the success of the first edition of the forums, which saw active participation from over 1,000 attendees discussing more than 400 projects.

By the end of the first edition, 128 projects from around the world were shortlisted. These projects required $128 billion in funding.  

According to Mohieldin, the second edition of the Five Regional Roundtables will facilitate a dialogue between stakeholders to address challenges in building and implementing project pipelines in developing countries.

The event aims to connect project proponents with potential financiers and provide technical assistance to help develop projects.

These projects aim to support climate mitigation, adaptation, resilience, and nature.

During the event, held on Wednesday, the UN climate champion also discussed the Assets to Flows Report launched by the HLCs, which includes key takeaways from last year’s forums.

He also discussed a factsheet of financing tools that project proponents need to mobilize and scale private finance.

In addition, Mohieldin emphasized the importance of reforming the financing systems of International Financial Institutions (IFIs) and Multilateral Development Banks (MDBs).

He also stressed the importance of funding the Sharm El-Sheikh Adaptation Agenda, addressing debt problems in developing countries, and supporting the Sustainable Debt Coalition's goals of transitioning to a green economy and investing in climate action.

Mohieldin stated that the five regional roundtables aim to close 10-15 deals across five regions in preparation for COP28, adding that they are currently engaging with project proponents, to help them meet the needs of financiers, and with financiers to encourage them to review the opportunities.

He noted that the first edition of ESCAP identified five promising projects, while the second edition will connect the owners of these projects with 5-10 financiers.

Mohieldin emphasized the need to improve finance policies to attract more private finance and sustainable financial instruments.

He urged financiers and investors to explore promising opportunities in climate action projects, including mitigation, adaptation, and nature, and to support project proponents in the early stages to attract investors.