L’Oréal Egypt, marked another milestone in its ongoing commitment towards empowering women’s journey by celebrating ...
Sisi: We need dlrs 800 bn annually until 2025 to confront climate change
President Abdel Fattah El Sisi said dlrs 800 billion is needed annually by 2025 to confront the repercussions of climate change.
Addressing the opening of the second Egypt – International Cooperation Forum (Egypt – ICF) in the New Administrative Capital (NAC) on Wednesday, Sisi expounded that 20 counties are responsible for about 80 percent of greenhouse gas emissions, therefore these countries should further contribute to climate adaptation efforts and support climate action in developing countries.
He highlighted the importance of supporting Africa which is the most affected by climate change although it is the least contributor to the climate crisis.
He further explained that although Egypt’s share to the greenhouse gas emissions stood at 0.6 percent of the total emissions worldwide, it is one of the most affected countries by climate change.
He noted that Egypt’s green investments reached 40 percent of the total public investments and this percentage is scheduled to rise to 50 percent in 2024-2025.
He added that Egypt was at the forefront of countries which laid down an integrated sustainable development strategy.
ٍٍٍSisi underlined the importance of adaptation to climate change, adding “we need a comprehensive vision to back African countries in the face of climate change.”
He underlined “the importance of commitment to putting into effect a climate action agenda that goes in line with the Sustainable Development Goals as both play a key role in shaping the future of humanity.”
Sisi stressed the importance of teaming up with the efforts being exerted by the United Nations and other parties concerned to extend aid and grants to those affected by environmental crises.
Meanwhile, Sisi commended the speech delivered during the event by US Special Presidential Envoy for Climate John Kerry as “inspiring and objective”.
The president said “We are looking forward to furthering cooperation with the US in the field of adapting and alleviating the impact of climate change in Africa, especially through establishing more new and renewable energy plants, sewage water treatment stations and recycling waste in addition to offering technical support to developing state.
The president also extolled the growing partnership between Egypt and the European Bank for Reconstruction and Development (EBRD), voicing hope to bolster this cooperation in the coming period.
He said EBRD’s support to Egypt will have a great impact for implementing well-prepared projects in this domain in the best timing.
He also extolled the conformity between Egypt’s governmental program and priorities with the EBRD policies, especially with regard to transition to green economy, promoting environmental sustainability and empowering the private sector to make up for the financial gap in order to secure needed investments in these scores.
He concluded that effective measures and action will be adopted at the United Nations Climate Change Conference (COP27) – which will be held in Sharm El Sheikh in November – for this hot issue that concerns the whole humanity.