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Shoukry: COP27 opened the door for a better era in mitigating climate change impact
Egypt’s Foreign Minister Sameh Shoukry, president-designate of the COP27, said COP27 opened the door for a better era in mitigating climate change impact by calling for reforming international financial institutions.
He asserted it is of crucial importance to continue building on previous achievements, and implement what has been agreed upon, referring to the adaptation agenda that stipulated unprecedented outcomes on water, oceans and forests.
He made the remarks during the official inauguration of the 28th session of the United Nations Climate Summit (COP28) during which he handed over the COP presidency to the UAE’s Sultan Al-Jaber.
Shoukry underscored the importance of accelerating implementation on all fronts and driving the global climate agenda forward.
He underlined the importance of realizing climate justice and providing the needed tools as agreed in Sharm El-Sheikh to the Loss and Damage Fund to be fully activated.
The Loss and Damage Fund focuses on supporting vulnerable nations devastated by natural disasters resulting from global warming.
Shoukry referred also to the COP27 launch of the Just Transition Action Program, and the Mitigation Action Program.
Addressing the gathering, Shoukry recalled the challenging international circumstances at the time of the COP27 summit, including the repercussions of the COVID-19 pandemic and the Russia-Ukraine war.
Egypt’s top diplomat highlighted the “worrying” climate indicators, a reference to the declining climate finance of developed countries despite the growing costs incurred by developing countries in their fight against climate challenges.
He expressed concern about the expansion of fossil fuel exploration and production, especially coal, in countries that had previously committed to gradually reducing or eliminating its use.