Dr. Rania Al-Mashat, Minister of International Cooperation, participated in the discussion session held by the World Economic Forum (WEF), on the global economic and geographic landscape and mechanisms for climate action, as part of the activities of the week of meetings of the 77th session of the United Nations General Assembly UNGA Week, which is being held in New York.
The Minister of International Cooperation participated, along with Andrew Steer, President of the Bezos Earth Fund, Savin Toure Holsether, CEO of Norwegian Yara International, and Philly Skinari, Minister of Development Cooperation and Foreign Trade of Finland, and the session was moderated by Borge Brende, President of the World Economic Forum.
In her speech, Dr. Rania Al-Mashat, Minister of International Cooperation, said that the climate action agenda has become a priority for all the international community and different countries, in light of the challenges caused by climate change and its impact on development efforts, in addition to the repercussions resulting from the Corona pandemic, pointing out that everyone is required Playing an effective role in facing the problem of climate change, whether international financial institutions, governments, civil society, non-profit organizations and the private sector.
The Minister of International Cooperation explained that the common goal of the whole world at the present time is to move from the stage of climate pledges to the stage of implementation, and to transform the financial commitments announced by all parties at the Glasgow Climate Conference into realistic measures and measures, and this is indeed the goal of the Egyptian presidency of the COP27 Climate Conference, as It works to motivate the international community with the aim of fulfilling commitments and encouraging efforts to adapt to climate change.
Al-Mashat stated that the multilateral development banks are required to play a pivotal role as well in order to stimulate the private sector to participate in climate finance, through the expansion of risk reduction tools and blended financing mechanisms, pointing out that this year has revealed large gaps in the world due to the war. In Europe, which caused a threat to food security and increased energy prices, which made projects to adapt to climate changes and enhance food security of paramount importance to the countries of the world.
She continued: 2022 will witness the convening of the COP27 climate conference, chaired by Egypt, and the convening of the Group of 20 summit, which gives the opportunity to shed light on the needs of the countries of the South and the importance of these countries becoming at the center of the international community’s attention to enhance their efforts to achieve development and expand financing of climate projects, adding that Africa is considered It is one of the least emitting regions, but the most affected by climate change due to water scarcity, desertification and food insecurity.
She stated that in order to support international efforts to finance projects to adapt to climate change, the Egyptian presidency of the COP27 climate conference is holding five regional forums, in Asia, Africa and Europe, with the aim of enabling countries to present their pioneering projects in the field of climate action that are investable, and to promote regional integration at the level of Drive climate action and green transformation.
The Minister of International Cooperation stressed the common denominator between climate and development, and the need not to view them as two separate axes, pointing out that every funding provided for climate action is basically development funding.
Al-Mashat highlighted the Egyptian efforts to promote climate action and stimulate the transition from climate pledges to implementation, coinciding with its presidency of the COP27 climate conference, where the national platform for green projects, the “Noufy” program, was launched, which is based on the importance of the interdependence between the water, food and energy sectors at the present time. The “Noufy” program brings together development partners, the private sector and the Glasgow Financial Alliance (GFANZ), in order to provide development financing, technical and technological support, capacity building and private sector investments for the list of projects covered by the platform.
She said that Egypt launched the “Noufy” program, as the president of the next climate conference, and one of the largest countries on the African continent, with the aim of setting a realistic example of the need to move from climate pledges to implementation, and for the platform to become a model for African countries and emerging economies in general, to confirm interdependence. The link between climate and development efforts.
She reviewed the results of the Egypt-ICF Forum for International Cooperation and Development Finance, which was held early this month, and included two round tables that witnessed high-level international participation in order to review the “Noufi” program, stressing that the program enhances the resilience of the Egyptian economy and supports sustainable development efforts.
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 it 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 El-Sisi. Where it 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”.