COP28 UAE President-Designate Dr. Sultan Al Jaber picked Egyptian Environment Minister Yasmine Fouad and Canadian Minister of Environment and Climate Change Steven Guilbeault to co-chair the negotiations on climate finance and implementation mechanisms (technology transfer – capacity building) for the 2023 UN Climate Change Conference, COP28, in Dubai.
Those negotiations will last from September till mid-December.
In a statement released on Monday, the environment minister said her selection to chair the negotiations on implementation mechanisms along with the Canadian environment minister comes as part of the endeavors to reach a global agreement on the new collective quantified goal on climate finance, doubling finance for adaptation and restructuring the work of multilateral development banks and international financing institutions.
Those negotiations aim to reach an international consensus on transferring technology from developed countries to developing countries, as well as building capabilities of developing countries to deal with climate change, Fouad added.
She stressed the importance of building on the outcomes of the COP27 in Sharm El Sheikh that succeeded in establishing a loss and damage fund to support developing countries being ravaged by climate impacts.
The environment minister lauded the UAE’s sustained efforts to advance the negotiations related to climate change mitigation and adaptation.