Egypt-ICF 2022, in its second edition, kicked off on Wednesday at the New Administrative Capital under the auspices of President El-Sisi.

El-Sisi also stressed that the Forum supports the sustainable development goals (SDGs) agenda, particularly in the African continent, and affirmed that mitigation and adaptation to climate change lack to the required finances.

“It is important to reach a consensus on an inclusive vision for developing countries and African economies that would support their ability to adapt to climate change, especially since they contribute only 3 percent of global emissions,” the president explained.

Touching upon COP27, President El-Sisi said that Egypt is one of the leading countries that set SDG strategic plan 2030, which includes the environmental dimension as a key for development.

The president also said that COP27 comes amid cascading global crises.

El-Sisi also expounded that the water treatment projects Egypt is currently undertaking will make the country the only one globally to benefit from every drop of water, stating that these projects are being implemented under a national programme whose first phase will be done by the end of 2022.

Meanwhile, El-Sisi said that green investments in Egypt account for 40 percent of the total public investments, and that this will rise to 50 percent by FY2024/2024, adding that Egypt contributes only 0.06 percent of global emissions.

El-Sisi also stressed that Egypt is looking forward to further cooperation with the United Sates in terms of establishing mitigation and adaptation-based projects in Africa, especially in the energy sector.

El-Sisi urged the international community to fulfil its climate action commitments as well as increase grants directed to developing and African countries to support their adaptation and mitigation efforts.

As the official host of the COP27 conference, Egypt is determined attain the required results in terms of helping African countries benefit from climate financing.

In addition, Egypt is set to stimulate additional finances by adopting innovative financing instruments that aim to facilitate access to climate financing for African countries.

Consequently, Egypt-ICF 2022 and the Meeting of African Ministers of Economy, Finance and Environment, will both represent a platform for governments, multilateral and bilateral development partners, philanthropic foundations, the private sector, think tanks and civil society to consider the challenges facing the continent and explore the avenues to overcome them.

Moreover, Egypt-ICF 2022 is a platform to discuss the mechanisms of achieving a fair green transition in Africa.

Egypt-ICF 2022’s key objectives include ensuring coherence between African climate financing and the continent’s actual needs, giving priority to procedures that African countries can execute while increasing climate financing.