Egypt spells out plans for shift to green economy at ‘Friend of Climate Action’ event in London

Egyptian Minister of International Co-operation Rania al-Mashat participated in the high-profile virtual meeting of the ‘Friends of Climate Action’ held in London on Wednesday. The event was attended by several active bodies, civil society organisations and other parties concerned with the multilateral co-operation.

Mashat is in the UK for a host of meetings with development partners and British officials to further consolidate economic ties.

The ‘Friends of Climate Action’ session was attended by several prominent figures, including economist Mahmoud Mohieldin, Climate Champion for the UN Climate Summit (COP27), which will be held in Egypt in November, Executive Director at the International Monetary Fund and UN Special Envoy on Financing the 2030 Agenda for Sustainable Development, COP26 President Alok Sharma; UK’s High-Level Climate Action Champion Nigel Topping, Co-President, Mission Possible Partnership Chad Holiday, and representatives of the World Economic Forum (WEF) and co-chair of the social enterprise ‘Imagine,” which mobilises business leaders to tackle climate change and global inequality.

Addressing the event, Minister Mashat said that Egypt exerts strenuous efforts at all levels to support climate action and transformation to green economy, building on the what was concluded during COP26 in Glasgow, Scotland last year to enhance the international community’s interest in the global efforts to adapt to climate change, or alleviate its impacts.

The minister added that financing constitutes the cornerstone for the implementation of national commitments of climate change, either from governments, the international institutions or the private sector, for carrying out new and renewable energy projects as well as ones to adapt to climate changes, in addition to promoting capabilities and transferring technology.

Mashat referred to several grand projects Egypt is carrying out as part of its efforts to support transformation to green economy, with participation of the private sector. She noted that Egypt was among the leading countries, which created a strategy to achieve the UN 2030 Sustainable Development Goals (SDGs), in line with the national principles and priorities.

During the Glasgow COP26 summit, Egypt launched its national 2050 strategy, with specific goals to achieve comprehensive and sustainable economic growth, and boost green transformation, the minister said.