DUBAI – Mahmoud Mohieldin, the UN climate change high-level champion for Egypt, said that countries have not committed to paying the agreed-upon $100 billion per year for climate action till 2022.
Interviewed by “Al Qahira Al Ikhbariya” TV on the fringe of his participation at the 2023 UN Climate Summit (COP28), Mohieldin said global climate action needs $2.4 billion, noting that the objective is to limit the Earth’s temperature to under 2 degrees Celsius.
He pointed out that the mechanism for accountability is almost absent at the international level, noting that COP27 and COP28 have a common factor which is the need for securing the climate action funding in view of the importance of protecting biodiversity and natural ecosystems.
Mohieldin also noted that investments which have been carried out in the fields of new and renewable energy are bearing fruit, but more action needs to be done and work should be accelerated to meet climate pledges.
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