Mohieldin made the remarks during the United Nations Climate Action: Race to Zero and Race to Resilience Forum held on Wednesday.
Mohieldin made the remarks during the United Nations Climate Action: Race to Zero and Race to Resilience Forum held on Wednesday in the presence of government officials and business, finance, civic and cultural leaders.
"The issues of climate adaptation, loss and damage from climate change, and climate financing require urgent interventions and an ambitious vision that ensures the fulfillment of climate pledges," Mohieldin told the event.
The forum was held less than 50 days before the 27th UN Climate Change Conference (COP27), which is set to hosted by Egypt in Sharm El-Sheikh from 6-18 November.
The event focused on bridging the gap between climate pledges and actions by turning voluntary climate commitments into progress and putting adaptation and resilience at the heart of climate action, according to the website of the United Nations Framework Convention on Climate Change (UNFCCC).
Mohieldin warned that reducing climate action to mitigation or decarbonisation would represent a formula for failure.
The climate champion stressed the importance of adopting a holistic approach that deals with the climate crisis within the framework of sustainable development plans and on the basis of Paris Agreement, especially in light of current global crises.
This holistic approach requires finding practical solutions and mobilising more funds to help promote growth rates, curb poverty and create job opportunities, he said.
It would also help find practical and equitable solutions that ensure sustainability at the fiscal, environmental and social levels, added Mohieldin.
The climate champion highlighted the paramount importance of enhancing the role played by non-state actors and the private sector in climate action and opening up new horizons for private-public partnerships.
Mohieldin stressed the need to enhance global trust by fulfilling previous climate pledges.
He said that the four regional roundtables that were held in four continents to prepare for COP27 agreed on more than 70 investable and bankable projects in adaptation and mitigation domains, which will be presented at the conference in Sharm El-Sheikh.
Mohieldin stressed the necessity of activating concessional and innovative financial instruments such as debt swaps for investments in nature given that 60 percent of climate finance is debt-based.
He also highlighted ongoing discussions with a number of experts to outline standards on carbon which suit the demands of emerging markets in Africa.