Egypt has unveiled an unprecedented initiative to encourage climate-related investment as the Arab country prepares to host the COP27 in November.
Climate projects should be on the agenda of the COP27, which will bring together investors and representatives of international financing organizations and development banks to the negotiating table in the Red Sea resort city of Sharm el Sheikh.
The aim is to get them to actually start implementing ventures meant to achieve goals of the climate action.
The Egyptian initiative entails that five regional forums be held in Addis Ababa, Bangkok, Santiago, Beirut and Geneva ahead of the COP27 in Sharm el Sheikh.
The COP27 should probe the outcome of each of the five meetings.
Investments in the sectors of food, water, irrigation, agricultural production, energy and infrastructure are in the heart of that initiative, said Dr Mahmoud Mohieldin, who will be leading Egypt’s delegation to the COP27, Sunday.
Such ventures are meant to achieve goals of the climate action and create jobs in all five regions, where the preparatory forums will be held, he noted.
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