Closing the gap: Investing in science and research to unlock financing in under-resourced settings and effectively tackle climate change

Despite the global climate crisis having a disproportionate impact on the world's least developed countries (LDCs), science and research in LDCs — and in low- and middle-income countries (LMICs) — is under-resourced by current global financing mechanisms. This constrains LMICs’ ability to obtain financing and investment from multilateral development banks, the private sector, philanthropy and others, and limits their potential to drive solutions locally and attract inward investment, as compared to countries with a stronger track-record of evidence-based policymaking.

To address this issue, this side event -- co-organised by Community Jameel and the Islamic Development Bank (IsDB) at the Summit for a New Global Financing Pact on 22 June 2023 -- invites speakers from the research and financial sectors, government and foundations to highlight the significance of investing in science and research in LMICs. It aims to contribute to the broader objectives of the summit by providing recommendations for how multilateral development banks, the private sector, philanthropy and others can support LMICs in this area.

The summit — taking place on 22-23 June 2023 in Paris — is an opportunity to address and align on climate priorities and instruments at the highest level in hybrid formats between heads of state and government, leaders of international organisations and representatives of civil society, foundations, funds and the private sector.