Mahmoud Mohieldin, UN Climate Change High Level Champion for Egypt, speaks during the opening session of the second round of the Green Society Forum in Cairo on Sunday. Photo courtesy of Mohieldin's Media Office
Mohieldin stated that current efforts to mitigate emissions fall short of the target set for 2030 by around 60 percent and highlighted that reducing dependence on fossil fuels and methane while increasing investment in renewables and related infrastructure and technology is essential to achieve these goals.
Speaking at the Green Society Forum on Sunday, Mohieldin emphasized the need for massive financing, cooperation in technological fields, strengthened domestic action, and the updating of Nationally Determined Contributions (NDCs) to achieve climate action.
He also discussed the importance of tracking and monitoring updates in the energy sector through reports issued by relevant international organizations such as the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA).
Mohieldin called for the need to reduce dependence on dirty energy in various sectors and to develop and activate voluntary carbon markets. He also stressed the importance of industrial criteria that align with new policies approved by the European Union on transboundary carbon.
Mohieldin highlighted the significant contributions made by COP27 in Sharm El Sheikh to climate action related to adaptation by launching the Sharm El Sheikh Adaptation Agenda (SAA) aimed at achieving resilience for the most affected communities.
He pointed out the need to increase private sector participation in financing and implementing adaptation activities, as the sector's contribution to financing these activities does not exceed three percent. The conference also made an important achievement by launching the Loss and Damage Fund, and Mohieldin confirmed that the committee concerned with setting the work mechanisms of the fund and its governance is making a great effort to begin activating the fund and benefiting from it as soon as possible.
Mohieldin also emphasized the importance of the first Global Stocktake, which will be announced in the upcoming COP28 in Dubai, to determine how far governments and other actors are committed to climate action and its financing.
The conference will discuss future measures to ensure that various actors fulfill their commitments.
He confirmed the importance of developed countries fulfilling their commitments to finance climate action, foremost of which is the $100 billion pledged at the climate conference in Copenhagen in 2009 to annually finance climate action in developing countries.
In his concluding remarks, Mohieldin called for a holistic approach that aligns with all the sustainable development goals, including the goal of confronting climate change.
He also called for promoting investment in human capital and providing individuals with the necessary skills and capabilities to implement climate action.
He emphasized the need to reform the current global financing system and strengthen the role of IFIs and MDBs in financing climate and development action by increasing their capital and adopting more effective policies for concessional financing.
Mohieldin referred to the unprecedented initiatives launched by Egypt last year, including the Five Regional Roundtables and the National Initiative for Smart Green Projects, aimed at enhancing regional climate action and finding investable and implementable climate and development projects.