During the global event, Egypt will be working towards channeling new investments and signing memorandums of understanding (MoU) with world leading companies involved in this sector, Shaker told the Egyptian news agency MENA at the Green Zone of COP27 in Sharm El-Sheikh on the sidelines of the event.

He noted that the ministry's optimal solution to cutting carbon emissions is to rely on renewable energy from solar and wind power, as well as green hydrogen, as clean sources of energy.

Shaker indicated that the country's energy strategy aims at increasing the supply of electricity generated from renewable sources to 42 per cent by 2035.

The COP27 Green Zone was inaugurated by Prime Minister Mostafa Madbouly on Sunday, with the aim of promoting dialogue and awareness via various events with the participation of youth, business community, civil society, academia and artists.