The announcement was made during a ceremony attended by a handful of high-ranking officials, including Prime Minister Mostafa Madbouly and Environment Minister Yasmine Fouad, in addition to a number of United Nations officials, ambassadors and representatives of international missions and organisations.

What does the 2050 strategy comprise?

The strategy is based on five main pillars, with each one containing several sub-goals, the environment minister said while presenting the general outline of the project.

The project aims to effectively address the repercussions of climate change in a way that contributes to improving the quality of life for Egyptians, achieving sustainable development, sustainable economic growth and preserving natural resources and ecosystems.

It also aims to enhance Egypt’s climate change leadership internationally, the minister indicated.

The strategy's first pillar is to achieve sustainable economic growth and low-emissions development in various sectors, the minister noted.

This goal can be achieved by expanding reliance on renewable energy sources, reducing fossil fuel emissions, and adopting sustainable consumption and production models to reduce greenhouse gas emissions from other non-energy-based activities, Fouad explained.

The second pillar aims to build resilience and adaptability to climate change, with a focus on mitigating the negative effects of the global phenomenon.

This goal aims to protect citizens from the negative health effects posed by climate change, and preserve the country's ecosystems and green spaces, the minister noted.

Fouad said the strategy's third objective seeks to improve governance and management in fields related to climate change, with the aim of achieving the country's strategic goals and luring more investments and opportunities for climate finance.

The fourth pillar aims to improve infrastructure for financing climate activities and promoting domestic green banking and green credit lines, the environment minister pointed out.

It also aims to foster innovative financing mechanisms that prioritise adaptation measures, such as green bonds, in addition to enhancing private sector participation in climate finance and promoting green jobs, she said.

The strategy's last pillar focuses on enhancing scientific research, technology transfer, knowledge management and awareness to combat, alleviate and adapt to climate change.

It also targets facilitating the dissemination of climate information and knowledge management between government and citizens, in addition to raising awareness about climate change among policy and decision makers, citizens and students.

Financing the strategy

The minister said that potential sources of funding for the newly issued strategy includes both international and local sources.

Under the framework of the United Nations Convention on Climate Change and the Paris Agreement, the international sources comprise the Green Climate Fund, banks and multilateral institutions such as the World Bank and the African Development Bank, in addition to parties such as the French Development Agency and others.

Local sources include country's budget and private sector investments in the respective fields, as per the minister.

The minister stressed that the strategy requires an effective participation of all segments of society, including NGOs and civil society side by side with the government.

Egypt's global commitments

Speaking at the launch, PM Madbouly said Egypt only produces 0.6 percent of the world’s emissions and yet is particularly vulnerable to climate change across several sectors, including its coasts, agriculture, and water resources, health, population and infrastructure.

Egypt has always been committed to combating climate change, signing on to the United Nations Framework Convention on Climate Change, the Kyoto Protocol and the Paris Agreement, Madbouly added.

The country is also keen to submit the required periodic reports and reports related to the global challenge, he noted.

Egypt adopted its first strategy for climate change in 2011 and its Low-Emission Development Strategy (LEDS) in 2018.

The new strategy has been prepared upon a request from the National Council for Climate Change.

"Egypt will spare no effort through its presidency of [COP27] to relentlessly seek to move from the stage of commitments and pledges declared by states to the stage of actual implementation of quick and tangible measures," the prime minister noted.

The Red Sea city of Sharm El-Sheikh in South Sinai is bracing for the hosting of COP27, embarking on several environmentally friendly projects, including increasing green spaces, promoting electric vehicles to lower carbon emissions, and banning single-use plastic bags from its beaches.

Egypt has devised several initiatives in the fields of agriculture, energy and water over the past period and is expected to be launched on the sidelines of COP27, according to Foreign Minister Sameh Shoukry, the COP27 president-designate.

Egypt has repeatedly affirmed that it will work through COP27 to enhance international action to handle climate change at all levels, achieve the goals of the Paris agreement, support efforts to reduce emissions and provide funding for developing countries to deal with the phenomenon.