Yasmine Fouad (Egyptian Minister of Environment, Ministerial Coordinator, Envoy to the COP27 Climate Conference), organized a consultative session for Alok Sharma, President of COP26, and his accompanying delegation, to discuss preparations for Sharm el-Sheikh’s upcoming edition.
The ministers of Electricity and Energy Mohamed Shaker and Planning and Economic Development Hala al-Saeed attended the session, as well as 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 saw the exchange of views on how we can jointly coordinate on climate issues. It also discussed Egyptian success stories in the areas of renewable energy, 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 President of COP26 praised the spirit and cooperation among Egyptian ministries in advancing the COP27 climate conference.
He pointed out that climate projects funded by the private sector were one of the most important outcomes from the Glasgow conference. He also noted the role Egypt can play in helping to advance these initiatives, in particular in expanding energy transmission.
Sharma also spoke about climate finance, particularly after the private sector promised investments of US$ 130 trillion in climate-related projects before 2050. He stressed the need to cooperate with Egypt and encourage the private sector in developing nations to finance these projects in order to take part in the development process as well as the transition to the green economy.