23:00 The 'Sharm El-Sheikh GuideBook for Just Financing' was launched during a panel discussion by the Ministry of International cooperation and the Tony Blair Institute. The guidebook aims to move efforts on finance beyond pledges into fostering inclusive partnerships toward a climate-resilient future.
22:00: When it comes to helping poor nations cope with climate change, the United States government left its wallet at home. So it hopes its friend, big business, can help pick up the tab.
Unable to persuade Congress or the American public to spend billions of dollars more a year in climate financial aid, the US government is trying to make it easier for private corporations to send cash to the developing world in exchange for looking green at home.
The plan, announced Wednesday by US climate envoy John Kerry at the COP27 climate summit in Egypt, essentially amounts to tapping private funds to finance developing nations' transition to clean energy by selling "high quality" carbon credits to companies trying to make their carbon emissions "net zero.''
19:00 The Egyptian Minister of Education and Technical Education Reda Hegazy stressed the importance of engaging teachers in addressing climate change issues. To help teachers successfully instruct children on climate change, he said, we should invest in teachers' professional development and in their training.
His remarks came in a UNICEF panel discussion held at COP27 entitled “Climate Education: Inspiring Children to Take Action in Egypt”.
Jeremy Hopkins, UNICEF Representative in Egypt, said: “Quality climate change education helps students develop a strong personal connection to climate solutions, as well as a sense of personal empowerment”.
17:33 Mahmoud Mohieldin, UN Climate Change High Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, said on Wednesday that it is necessary to expand the criteria of the International Development Association (IDA) to include financing development and climate action in low- and middle-income countries.
Mohieldin made the remarks at a session on financing climate action as part of implementing the 2015 Paris Agreement.
Mohieldin said that the IDA provides soft grants and loans that allow long-term repayment periods and low interest rates, stressing the importance of expanding the range of countries that benefit from the institution's financing to include low- and middle-income countries.
“As the COP president, I depend on your voices and your inspiration. Everybody has a right to a future,” says #COP27 President Sameh Shoukry, while visiting the Children and Youth Pavilion in the Green Zone
16:30 Ugandan President Yoweri Museveni accused Europe on Wednesday of "brazen double standards" towards Africa in its climate and energy policies.
He lashed out at Europe's return to coal-fired power plants in the face of the energy crisis triggered by the war in Ukraine, while at the same time telling African nations not to use fossil fuels.
"We will not accept one rule for them and another rule for us," Museveni wrote in a blog published on Wednesday.
16:00 During the COP27 being held in Sharm El-Sheikh, the World Bank launched the Country Climate and Development Reports (CCDRs) for Egypt that provide recommendations on how the country can attain its development goals while mitigating and/or adapting to the repercussions of climate change.
15:35 Egypt's Foreign Minister Sameh Shoukry stressed the need for international partners to raise their financial contributions to provide the required climate financing in order to help enhance adaptation, mitigate climate change implications, and address loss and damage.
In a meeting with his Irish counterpart Simon Coveney on the sidelines of COP27, Shoukry affirmed the need to build trust among the various parties partaking in the conference so they can agree on all relevant topics.
Shoukry also reiterated Egypt's unwavering stance on the necessity to revive the Middle East peace process on the basis of the two-state solution and relevant international resolutions.
15:30 UN Climate Change High Level Champion for Egypt Mahmoud Mohieldin stressed that there is a large funding gap for development and climate action in developing and emerging countries, estimated at $1.3 trillion until 2025, and this may increase to $2.4 trillion by 2030.
Mohieldin made the remarks during the Financing Day opening ceremony at COP27.
15:25 The Arab Coordination Group (AGC), a strategic alliance that provides a coordinated response to development finance, pledged in a statement a financing of no less than $24 billion to tackle the global climate crisis.
The AGC includes the OPEC Fund for International Development and other various regional development funds, Reuters reported.
15:18 Former US vice president Al Gore announced the launching of Al Gore's Climate Trace Initiative during COP27.
Climate TRACE (Tracking Real-Time Atmospheric Carbon Emissions) is a Carbon Tracker Initiative to track GHG from every major human-caused emitting activity across the globe, including power plants, factories, ships and more. It aims to mobilise the international community as a whole to rescue the planet.
The Climate TRACE coalition unveiled a new, highly detailed inventory of global greenhouse gas emissions to help countries and companies looking for effective and targeted ways to decarbonise.
15:15 Egypt and Australian Fortescue Future Industries (FFI) are working to finalise an MoU on establishing a green hydrogen production project in Egypt that will be signed later during COP27, Minister of Electricity and Renewable Energy Mohamed Shaker announced.
14:45 President El-Sisi and Belgian Prime Minister Alexander De Croo jointly launched a global renewable hydrogen forum during a high-level roundtable on the COP27 sidelines.
The forum aims to facilitate the production and use of renewable hydrogen to reduce carbon emissions, accelerating a just transition to renewable energy, El-Sisi said during the launch.
The forum also seeks to determine the best tools for contributing to boosting the trade of green hydrogen between developing countries rich in renewable energy and developed countries, the president added.
14:10 Prime Minister Madbouly launched Egypt's Climate Investment Plan to accelerate the country's climate action through investment planning with the Green Climate Fund (GCF).
The plan was launched at an event that was held on the sidelines of COP27 and attended by Executive Director of GCF Yannick Glemarec.
Madbouly said Egypt, backed by the GCF and other partners, formulated the plan to ensure sound implementation of the country's National Strategy for Climate Change 2050, which was launched in May.
14:04 Prime Minister Mostafa Madbouly launched the voluntary carbon markets platform at COP27’s Egyptian pavilion. The platform was launched with the participation of the private sector.
The launch ceremony was attended by Planning Minister Hala Saeed, Environment Minister Yasmine Fouad, and Board Chairman of the Financial Regulatory Authority Mohamed Farid.
Minister Fouad underlined the importance of the event, which she said will offer greater chances for the private sector to commit to confronting climate change within the framework of the updated national contribution plan.
13:45 European Union (EU) members agree how to share emissions cuts. The union plans to cut emissions from road transport, building heating, farming, light industry and waste management by 40 percent by 2030, compared to their level in 1990.
The economic sectors covered by the agreement represented 60 percent of the total EU greenhouse emissions, with the rest subject to the EU carbon market and other regulations.
13:00 Sharm El-Sheikh International Hospital has become the first Egyptian hospital to join the Global Green and Healthy Hospitals (GGHH) network, the Egyptian Healthcare Authority announced on Wednesday on the sidelines of COP27.
The Sharm El-Sheikh hospital has become the first in the country to implement a green transition in the health sector, said Ahmed El-Sobky, the head of the authority
12:40 In a meeting on Wednesday with Burundi President Évariste Ndayishimiye, President El-Sisi hailed Burundi's supportive stance toward Egypt with regards to issues concerning water rights from the Nile River.
El-Sisi stressed Egypt's determination to continue providing all forms of support to Burundi.
Ndayishimiye praised Egypt's support for Burundi and its efforts to help restore stability in the country.
Demonstrators shout slogans on November 9, 2022 during a protest outside the venue hosting the COP27 climate conference, at the Sharm el-Sheikh International Convention Centre, in Egypt's Red Sea resort city of the same name.
11:45 The world is spewing 162 million tons of manmade global warming pollution into the thin shell of the atmosphere every 24 hours, said former US vice president and long-time climate activist Al Gore.
Gore and the independent Climate TRACE Coalition released a detailed inventory of the sources of greenhouse gas emissions worldwide.
10:42 Egyptian President Abdel-Fattah El-Sisi met with his Tanzanian counterpart Samia Hassan in Sharm El-Sheikh on the sidelines of the conference, according to presidential spokesman Bassam Rady. President El-Sisi extended his condolences to Hassan over a recent plane crash in Lake Victoria that killed 19 people.
10:30 Prime Minister Mostafa Madbouly said during the ‘Climate Finance in a Polycrisis Era’ session that cooperation between governments, civil society, the UN, and international organisations is the shortest way to ensuring success in combating climate change.
9:45 Egypt signed green fund agreements worth $2.24 billion with international partners to implement numerous agreements concerning food security, transportation, the environment, housing, and electricity and renewable energy, the Ministry of International Cooperation announced on Tuesday.
9:30 Prime Minister Mostafa Madbouly said during the Finance Day organised by the Egyptian Ministry of Finance in the COP27 Blue Zone that cooperation between governments, civil society, the UN, and international organisations is the shortest way to ensuring success in combating climate change.
President of the World Bank David Malpass, IMF Managing Director Kristalina Georgieva, President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso, and other high-level officials attended the side event.
Day 4, 9 November - Finance Day
10:00-12:00 Mandated events and workshops GST Technical Dialogue, 1st meeting of Roundtable one – Mitigation, including Response Measures
12:00-14:00 GST Technical Dialogue, 1st meeting of Roundtable two – Adaptation, including Loss and Damage
10:00-13:00 Other high-level events Earth Information day 2022 (WG I)
13:15-14:45 Other high-level events Earth Information Day (poster session)
13:00-15:00 Lunch
14:00-17:00 Mandated events and workshops LCIPP Multi-stakeholder dialogue
15:00-17:00 Mandated events and workshops GST Technical Dialogue, 1st meeting of Roundtable three – Means of Implementation and Support
17:00-19:00 Mandated events and workshops GST Technical Dialogue Focused exchange on pathways towards low GHG emissions and climate-resilient development
15:00-18:00 Mandated events and workshops High-level ministerial dialogue on the new collective quantified goal on climate finance
18:00-20:00 Mandated events and workshops Joint dialogue LCIPP/GAP: Enhancing indigenous women climate leadership in the UNFCCC process
Relive:
COP27, Day 1: Loss and damage funding introduced as an agenda item (Click here).
COP27, Day 2: Sisi urges world leaders to move to concrete action on climate (Click here).
COP27, DAY 3: President launches the 'Sharm el-Sheikh Adaptation Agenda' (Click here).
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