Sisi highlights potential impact of $100-bln climate finance pledge at Paris summit

Ahram Online , Friday 23 Jun 2023

Egyptian President Abdel-Fattah El-Sisi has emphasized the potential positive impact that a fulfilled $100-billion climate finance pledge by developed nations to developing nations could have had on climate change results.

Sisi in Paris
Egyptian President Abdel Fattah El-Sisi arrives for the closing session of the New Global Financial Pact Summit, on June 23, 2023 in Paris. AFP

 

At the Paris summit to revamp the international financial system, El-Sisi urged for the will to combat climate change to be translated into action during the closing session on Friday.

"The danger [of climate change] is obvious, and we must take measures that enable us to act efficiently," Sisi stated in his speech at the summit, stressing that the world has acted decisively when it came to dealing with coronavirus and the Ukraine crisis implications.

“We do not want to give promises and only implement a very small portion of that promise,” the Egyptian president stated.

Sisi emphasized during his speech that his election campaign in Egypt did not involve making promises commonly seen in developing countries.

“In our developing nations, there are always promises being made by leaders to peoples in the elections to do this or that for them” El-Sisi said.

“In my [election] campaign, I never said that. Instead, I said I have nothing to promise you except work, work, work and patience and I have never launched a project until it was inaugurated,” the president added.

As the chairperson of the African Union (AU) in 2019-2020, Sisi proposed that each developed state pay its share of the $100-billion climate finance to its companies to develop the necessary infrastructure in Africa.

Sisi and other African leaders visited Japan, China, India, Russia, and the UK to promote economic cooperation between Africa and developed countries, given the challenging circumstances faced by the continent.

“Developed and rich countries that have technology and knowledge have a responsibility towards other [countries] that do not have it,” Sisi said.

Sisi added that developing countries must also take responsibility for achieving their goals by having the necessary ideas and preparedness to act effectively.

The president also discussed the issue of irregular migration, which results in the deaths of hundreds of migrants annually as they attempt to leave Africa for Europe.

“We speak a lot about human rights and I agree about it,” Sisi said, warning, however, that around 27,000 migrants were confirmed dead while crossing from Africa to Europe over the past 10 years.

“If people in Africa do not find hope and a chance for life, they will move toward those who have the hope and the chance, here in Europe,” Sisi stressed.

The $100-billion pledge

During the summit's final panel today, French President Emmanuel Macron confirmed that developed nations have fulfilled the overdue $100-billion climate finance pledge to developing countries.

Developed nations committed to supporting climate action in developing countries with $100 billion annually by 2020 during the 15th UN Climate Change Conference in Copenhagen in 2009. However, rich nations have failed to fulfill the pledge until now.

The Paris summit on 22-23 June aimed to enhance crisis financing for low-income countries, alleviate their debt burdens, reform financial systems, and allocate funds to tackle climate change, according to Reuters.

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