African states contribute only 4 per cent to greenhouse gas emissions; however, they have been significantly affected by all recent climate events, Foreign Minister Sameh Shoukry said Saturday.
Speaking during a session on the “Saudi Green Initiative,” held as part of the 7th day of the ongoing global climate conference (COP27) in Sharm El Sheikh, Shoukry emphasized the need for adopting a climate adaptation finance plan.
Shoukry also asserted the need for collective action to fight climate change, whether in the Middle East or neighboring regions.
Shoukry stressed that the lives of indigenous peoples have been severely impacted by climate change.
He said economic conditions must be taken into account during discussions on climate financing to ensure that no parties are hindered by them.
Shoukry called for securing $1 billion in climate financing as a confidence-building step to demonstrate commitment, emphasizing also the need to promote private climate financing and reform multilateral development banks (MDBs) to cut the cost of funds and roll out incentives and guarantees that ensure greater private sector contributions.
Shoukry said no legally binding arrangement on the UNFCCC multilateral system is possible without the agreement of all parties.
He deplored that some states are not willing to make their national climate commitments legally-binding.
Shoukry underscored that all parties must be convinced of the urgency of meeting climate goals, including the goal of limiting temperature rise to 1.5 degrees Celsius.
The minister applauded the broad participation of NGOs at COP27.
