CAIRO – Egyptian Minister of Planning, Economic Development and International Co-operation Rania el-Mashat said that Egypt’s hosting of the COP27 Climate Change Conference of the Parties was not just a landmark event, but it rather signaled the beginning of a new phase that placed Egypt among influential countries in climate dialogues and actual work to confront climate challenges, in partnership with various parties, whether from the governmental or private sector, civil society organizations, or non-profit organizations.
The minister’s statements came during her participation Monday in a discussion session on “Climate Risk” within the activities of the annual conference “The Path to Net Zero Emissions”, organized by the Chapter Zero Egypt Foundation.
The minister addressed the path towards achieving sustainability and how companies can deal with the opportunities and challenges of climate risks, as well as adopting the principles of climate governance in their strategies and identifying financing opportunities available to chairmen, members of boards of directors, and CEOs of companies.
The minister said successive climate conferences emphasized the importance of partnership between various relevant parties to confront climate change, noting that during its hosting of the COP27 conference, Egypt stressed the importance of working with a wide range of relevant parties, to address the three basic pillars of adaptation, mitigation and fair financing as these principles form an essential part of climate strategies.
She explained that in line with these efforts, Egypt launched its National Climate Change Strategy 2050 before the COP27 conference, as this strategy is a national roadmap directed towards achieving the Nationally Determined Contributions (NDCs), in line with the Paris Agreement.
Mashat reviewed the ministry’s pivotal role in enhancing co-operation between the ministries and relevant bodies to achieve the integration of the climate dimension into national planning frameworks.
She also referred to the Sustainability and Finance for Economic Development Framework, which was launched by the ministry and aims to achieve qualitative, sustainable and comprehensive economic growth, through incorporating an economic development policy based on data and evidence, to provide information that enhances discussions about needs and opportunities that would help in bridging gaps in the various areas covering development and building economy.
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