The Egyptian Minister of Environment, Ministerial Coordinator and Envoy of the COP27 Climate Conference, Yasmine Fouad, organized a consultative session with COP26 President Alok Sharma and his accompanying delegation to discuss preparations for the upcoming edition of the conference scheduled in Sharm el-Sheikh.
The session was attended by ministers of Electricity and Energy Mohamed Shaker, Planning and Economic Development Hala al-Saeed, International Cooperation Rania al-Mashat, and representatives from the Ministries of Foreign Affairs and Finance.
Fouad explained that this session aims for joint coordination between the Egyptian and European sides on issues related to the outcomes of Glasgow’s Climate Conference COP26, as well as joint preparation for issues of interest to UNFCCC member states especially regarding developing countries.
The session also witnessed the exchange of views on how to jointly coordinate on climate issues, discussing Egyptian success stories in the fields of renewable energy projects, environmental sustainability standards and climate finance.
Fouad said that Egyptian ministers are working as an integrated team to come up with a distinct version of the climate conference presenting Egypt’s vision for leading global climate action, taking into account the interests of all countries and parties.
The COP26 President praised the spirit of cooperation between Egyptian ministries in working towards the COP27 climate conference.
He noted that the private sector financing initiatives for climate projects were one of the most important outcomes of the Glasgow conference and the role that Egypt can play in advancing these initiatives, especially in expanding energy transmission.
Sharma also touched on climate finance, especially after the private sector pledged investments worth US$ 130 trillion in climate projects before the end of 2050, and the need for cooperation with Egypt to focus on encouraging the private sector in developing countries to finance these projects to participate in the development process and the transformation to the green economy.