Egypt’s environment minister urges commitment to secure $100 bln annual climate finance for developing states

Ahram Online , MENA , Tuesday 5 Oct 2021

Egypt’s Environment Minister Yasmine Fouad urged developed countries on Monday to commit to securing $100 billion annually to support climate action in developing countries.

Egypt’s Environment Minister Yasmine Fouad (left) attending the second Union for the Mediterranean (UfM) ministerial meeting on environment and climate in Egypt on Tuesday

Developed countries in 2009 pledged to allocate $100 billion per year by 2020 to assist developing countries in tackling the climate crisis, a goal that has not yet been fulfilled.

Addressing the second Union for the Mediterranean (UfM) ministerial meeting on environment and climate action hosted by Egypt, Fouad said that increasing funding for climate action and technology transference has become a necessity, a statement by the ministry said.

This comes in parallel with the procedures to face climate change and the rising ambition to back developing countries to fulfill their relevant commitments, Fouad said.

Ministers from the 42 member countries of the UfM attended the meeting, which was co-chaired by Jordan and the European Union (EU), on Monday in Cairo.

According to a statement by the UfM, the ministers agreed on the need to enhance efforts in the Euro-Mediterranean region to address the region’s numerous environmental and climate challenges.

Fouad hailed the meeting for its importance in light of the environmental challenges facing the Mediterranean region at this critical time as the COVID-19 pandemic rages on, she said.

Fouad stressed the importance of cooperation among all countries to preserve the planet and ensure a brighter future for the coming generations.

“Egypt supports the UfM chief in his endeavors to equally divide funding allocated for adaptation and mitigation measures,” the minister noted.

Frans Timmermans, the European Commission’s executive vice president for the European Green Deal, chaired the conference on behalf of the EU.

Egypt’s projects going green by 2024

Meeting with Timmermans on the sidelines of the conference, Fouad said that Egypt is aiming to have 50 percent of the state’s projects go green by 2024.

The two sides discussed the outcome of the UfM meetings; the Pre-COP, which was held in Milan, Italy, from 30 September to 2 October; and setting the stage for the 2021 UN Climate Change Conference.

Over the past few years, Egypt has seen the need to integrate “environmental considerations” into development fields, the minister said, underlining the political leadership’s great support for the process of restructuring the environment sector in the country.

The minister also cited Egypt’s success in confronting the phenomenon of acute episodes of air pollution known as the ‘black cloud’.

For his part, Timmermans said that Egypt pays great attention to the issue of climate change.

He also stressed the importance of completing the discussions regarding the annual climate funding during the preparations for the 27th UN Climate Change Conference of the Parties (COP 27), which Egypt is looking forward to hosting on behalf of the African continent.

Egypt has been selected as a nominee to host the COP 27, scheduled for November 2022, Reuters cited US Climate Envoy John Kerry as saying on Saturday.

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