Al-Mashat: Egypt is working to stimulate the transition from climate pledges to real implementation

Dr. Rania Al-Mashat, Minister of International Cooperation, delivered the opening speech at the discussion session held by the World Economic Forum entitled “The Road from COP27 to COP28.. Accelerating the pace of climate action at the regional and global levels”, where the session aimed to bring together relevant parties from the governmental and private sectors. In preparation for the COP27 climate conference in Sharm El-Sheikh, and the next session in Dubai, with the aim of discussing climate policies, efforts to reduce emissions, challenges facing financing, and enhancing food security, within the framework of the meetings of the 77th session of the United Nations General Assembly, held in New York.

The Minister of International Cooperation participated in the discussion session, along with Mohsen Jazouli, Minister Delegate to the Prime Minister in charge of Investment, Convergence and Public Policy Evaluation in Morocco, Andrew Steer, President of the Bezos Earth Fund, Gilberto Tomazoni, CEO of JBS, and Razan El Mubarak, President of the International Union for Conservation of Nature. The session was moderated by Jim Howey, Director of the Center for Nature and Climate at the World Economic Forum.

In her speech, Minister of International Cooperation, Dr. Rania Al-Mashat, said that based on the results achieved at the COP26 climate conference in Glasgow, the Egyptian presidency of the next edition of the COP27 conference is working to achieve a major goal, which is to move from the stage of climate pledges to implementation, as the international community announced Huge pledges in the “Glasgow” version of the implementation of the Paris climate agreement, and the Egyptian presidency of the climate conference is working to advance effective policies and practical practices that stimulate financing adaptation efforts and mitigate climate repercussions, and enhance the process of exchanging experiences and experiences among emerging countries with the aim of stimulating climate action.

Al-Mashat stated that Egypt, through its presidency of the climate conference, is urging developed countries to fulfill their climate pledges by providing $100 billion to developing countries, as well as fulfilling the pledges made by the international community to increase funding for climate change adaptation projects to $40 billion, stressing that this It can only be achieved by the joint action of relevant parties and by building on these efforts to promote climate finance at the regional and international levels.

The Minister of International Cooperation added that the decrease in funding available for adaptation projects to climate change will be one of the main issues that the Sharm el-Sheikh climate conference is working to promote, with the aim of achieving a balance between financing mitigation and adaptation projects, by stimulating the participation of the private sector through mixed and innovative financing mechanisms, and expanding Funding base with the participation of non-profit organizations in order to support the ability of countries to withstand the repercussions of climate change.

And she continued: In order to stimulate regional efforts, especially in the continent of Africa, and to coordinate visions and positions to mobilize the efforts of the international community to support the green transformation on the continent, the Egyptian government organized the Egypt Forum for International Cooperation and Development Finance EgyptICF, which included 23 African governments, along with international financial institutions, development partners and alliances. The International Conference on Climate Action, with the aim of coordinating visions and positions on climate action on the continent.

She spoke about the axes that the Ministry of International Cooperation is working on, within the framework of the Egyptian preparations for the climate conference, through the preparation of the Sharm El-Sheikh Guide for Equitable Financing, which aims to develop a practical framework to achieve integration among all relevant parties in the field of climate finance to enhance the ability of developing countries to access funds. and transforming them into real, balanced and fair investment opportunities in environmentally friendly sectors, by defining an action plan and practical measures that can be implemented by all parties, prior to the United Nations Climate Conference COP 27, in addition to the national platform for green projects, the “Noufi” programme. To finance the list of green government projects in the fields of energy, food and water, under the umbrella of the National Strategy for Climate Change 2050.

Rania Al-Mashat, Minister of International Cooperation, is participating in the meetings of the 77th session of the United Nations General Assembly, which is being held in New York, under the slogan “Solutions through Solidarity, Sustainability and Science”, amid unprecedented global repercussions due to the Russian-Ukrainian crisis, and the economic effects of the Corona pandemic, where she discusses The meetings dealt with a number of important issues that concern the international community, on top of which are food insecurity, the energy price crisis, and global supply chain disruptions.

It is worth noting that the Ministry of International Cooperation, in cooperation with the Ministries of Foreign Affairs, Finance and Environment, and the United Nations Economic Commission for Africa, organized the Egypt-ICF2022 Forum, in its second edition, and the meeting of African Ministers of Economy, Finance and Environment, under the auspices and presence of President Abdel Fattah Sisi, where he witnessed a high-level international and regional presence from United Nations organizations, heads of international financial institutions, and the private sector. With the participation of more than 23 African governments, about 20 discussion sessions, workshops and round tables were held on unifying messages and visions, to mobilize the efforts of the international community to support the climate agenda in the continent of Africa, and to prepare for the “Finance Day”.

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