A woman walks away after posing at a COP27 sign at the U.N. Climate Summit, Wednesday, Nov. 16, 2022, in Sharm el-Sheikh, Egypt. AP
During a session on "Climate Repair", at COP27, Mohieldin said that scientific institutions and research centers are playing a good role in finding scientific solutions to nature and climate crises, but financing climate action faces major challenges and needs innovative solutions.
He cited the examples of Seychelles and Barbados who have innovatively provided financing for climate action through debt-for-environment swaps.
Mohieldin added that financing activities to reduce carbon emissions are proceeding at a good pace with the support of the Glasgow Financial Alliance for Net Zero (GFANZ).
On climate change adaptation activities, Mohieldin said that the "Sharm El-Sheikh Adaptation Agenda" includes many types of projects that aim to achieve resilience for about 4 billion people, and that it also contains mechanisms for both reducing debts and investing in these projects.