“It is crucial to accelerate the energy transition in an equitable manner that takes into account energy security and promotes sustainable development,” Shoukry said in a virtual meeting held on Tuesday, nearly two weeks before the launch of COP28 in the UAE.

Shoukry noted that international collaboration and cooperation are the only way to achieve the goals of the Paris Agreement and address the current climate crisis.

The foreign minister made his remarks while co-chairing the final meeting of the 2022 UN Climate Change Conference (COP27) Business Leaders Group.

The group was formed by the Egyptian presidency of last year’s UN event in cooperation with Nassef Sawiris, the CEO of OCI Global, a company that deals in hydrogen, nitrogen, and energy.

It keeps various stakeholders involved in climate action, including the private sector, in touch with one another to explore possible climate solutions.

Shoukry highlighted the progress and achievements made during Egypt's presidency of the climate conference, including the launch of new financing arrangements and the Loss and Damage Fund.

COP27 also activated the Sharm El-Sheikh Adaptation Agenda to mitigate the impacts of climate change worldwide and enhance resilience in systems of food, water, oceans, cities, health, and infrastructure.

The 28th UN climate change conference will be held in the UAE from 30 November until 12 December 2023.