Mohieldin highlighted that climate action is an essential component of development efforts and stressed that achieving economic growth and climate goals must be realized together or not at all. He also emphasized the importance of balancing mitigation and adaptation efforts while mobilizing sufficient finance for a just transition to a green economy in developing countries.

His remarks came during his participation in the "Global Climate Action High-Level Event: Uniting on the Pathway to 2030 and Beyond" as part of COP28 in Dubai. The event saw the participation of Razan Al-Mubarak, climate champion for COP28, and representatives of the Egyptian and Emirati presidencies for COP27 and COP28.

Mohieldin stated that Egypt stresses the need to achieve a balance between the implementation of climate action and achieving equity.

He underscored the success achieved by the Regional Platforms for Climate Projects (RPCP) initiative. This accomplishment resulted from the collaborative efforts of the Egyptian and Emirati presidencies of COP27 and COP28, UN regional commissions, and the high-level champions (HLCs). The initiative played a significant role in enhancing the regional dimension of climate action.

He revealed that in two years, the initiative identified approximately 450 investable projects with a combined funding requirement exceeding about half a trillion dollars. Notably, he said, 19 projects have already secured agreements with various financiers, totaling $1.9 billion.

He added the HLCs contributed to the launch and support of several climate action initiatives in Africa, including the Africa Carbon Markets Initiative (ACMI), the Africa Green Hydrogen Alliance, and the Climate Risk Insurance Facility for Adaptation in Africa.

Mohieldin explained that as a climate champion, he supports local climate efforts through the National Initiative for Smart Green Projects (NISGP) in Egypt.

These NISGP serves as a practical model for the localization of climate and development action, which in two years resulted in 12,000 projects in all governorates, and created more than 40 partnerships to support the implementation of these projects.

The climate champion recalled the role played by the Egyptian presidency of COP27 in collaboration with HLCs in placing adaptation at the heart of climate action, noting the launch of the Sharm El-Sheikh Adaptation Agenda (SAA) as a practical mechanism to implement climate resilience goals by 2030.

Concerning climate finance, Mohieldin emphasized his priority of ensuring swift and widespread availability of finance to support climate action in developing countries.

He also stressed the need for new concessional financing policies, increasing investments for climate action, integrating financial capital and nature capital, and mobilizing sufficient finance for the Loss and Damage Fund.

Moreover, Mohieldin highlighted the need to review unfulfilled financing pledges and develop policies that incentivize the mobilization of financing from domestic sources.

In the same context, Mohieldin referred to the second successful replenishment of the Green Climate Fund (GCF) which he facilitated, after 31 countries announced contributions amounting to an unprecedented $12.8 billion.

Mohieldin concluded his speech by saying that the more the world’s efforts are united to accelerate the implementation of climate action, the more it will be able to achieve stability, security, and equality for all.