Policy Dialogue: The Equitable Framework and Financing for Extraction-Based Countries in Transition | African Development Bank

What: Policy dialogue on natural resource-based development, focusing on the Equity Framework Instrument and Financing for Extraction-Based Countries in Transition (EFFECT)

Who: The Africa Natural Resources Management and Investment Center of the African Development Bank and the OECD Development Centre

Where: Virtual (click here to register)

When: December 15-16, 2022

The African Development Bank’s Africa Natural Resources Management and Investment Center (ECNR) and the OECD Development Center are co-hosting a high-level policy dialogue on natural resource-based development, focusing on the equitable frameworks and financing for Extraction-Based Countries in Transition (EFFECT ) development policy tool.

EFFECT recognizes the shared responsibility of consumer and producer countries in reducing fossil fuel production and use and advocates for transformative partnerships for technology transfer, green finance and capacity building. Ultimately, it supports an equitable sharing of the benefits and costs of the transition, both between and within countries.

The event will take place on Thursday 15 December 2022 from 13:30 – 16:30 GMT and on Friday 16 December 2022, also from 13:30 – 16:30 GMT

Day 1: December 15, 2022 (two plenary sessions)

• Plenary session 1: The discussion will focus on the results of COP27 and the implications for fossil fuel producers and mineral-rich developing and emerging economies.
• Plenary session 2: During this session, participants will deliberate on the equity and equity aspects of the low-carbon transition, with perspectives from the developing countries that produce fossil fuels, which place more emphasis on climate adaptation than mitigation.

Registration day 1

Day 2: December 16, 2022

• Plenary Session 3: During this session, fossil fuel producers in developing countries will review the draft work plan for EFFECT implementation.

Registration day 2

The dialogue follows the official launch of EFFECT on November 15 at COP27 in Sharm El-Sheikh, Egypt. The African Development Bank and the OECD Development Center are jointly implementing EFFECT to support policymakers in effectively managing associated risks while seizing the opportunities of the transition to a low-carbon economy.

The acting director of the African Natural Resources Management and Investment Centre, Dr Vanessa Ushie, closes the event.