Egyptian Prime Minister Mustafa Madbouli said Egypt is keen on adopting an integrated national approach to shift to sustainable development compatible with the environment.
The prime minister further cited the launch of Egypt National Climate Change Strategy 2050 and Egypt’s Sustainable Development Strategy (Egypt’s Vision 2030), directing investments to green transformation projects, enhancing cooperation with development partners and increasing the production of new and renewable energy to reach 42% of the electricity generation mix in 2030.
Madbouli gave a speech during the World Leaders Climate Action Summit, on the second day of the high-level meetings of the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29), hosted by the Azerbaijani capital, Baku.
In his word, the Egyptian premier conveyed President Sisi’s greetings to Azerbaijani President Ilham Aliyev for assuming the presidency of the conference, asserting Egypt’s support for tangible results emerging from this conference.
The Baku Climate Change Conference is being held amid regional and international crises and wars and major climate events, resulting in economic and human losses, Madbouli said.
Egypt has always been keen on focusing on the issue of “implementation” with regard to the climate change agenda and working to bridge the gap related to dealing with climate losses and disasters that developing countries do not have the financial and technical capacity to deal with them, he added.
The Egyptian prime minister further noted that during the COP27 Conference of the Parties in 2022, Egypt succeeded in mobilizing international support to establish “Loss and Damage” Fund for Vulnerable Countries hit hard by climate disasters.
It also launched a negotiating path on a just transition taking into account the social and economic dimensions of the transformation process agreed upon within the framework of the Paris climate agreement, he said.
Madbouli pointed out that Egypt also launched the Nexus of Water, Food and Energy (NWFE) platform that included priority projects for implementation.
Egypt and African countries face shortfall for climate financing, and the lack of access to finance, he said.
The Egyptian prime minister said the conference aims at reaching an agreement on the New Collective Quantified Goal (NCQG) on climate finance, a key element of the 2015 Paris Agreement, aimed at setting a new financial target to support developing countries in their climate actions post-2025.
Source: The Egyptian Gazette
