An initiative from the Egyptian presidency, the United Nations, and the climate pioneer for the Egyptian presidency for the COP27 conference to mobilize investments to finance climate projects

Africa will witness the holding of the first forums from 2-4 August with the participation of high-level official Egyptians

In light of its presidency of the twenty-seventh edition, which will be hosted by Sharm El-Sheikh next November, the Egyptian presidency of COP27 announced an unprecedented initiative to encourage investment in areas related to climate action and to put climate projects and investment opportunities on one table with Investors, international financial organizations, development banks and other actors with the purpose of actually starting to implement projects that will achieve the goals of climate action.

The Egyptian initiative includes holding five major regional forums. The Forum on Africa will be held in Addis Ababa, as the headquarters of the United Nations Economic Commission for Africa, from 2-4 August, and the second forum will be held in Bangkok, the headquarters of the United Nations Economic and Social Commission for the Asia-Pacific Region, on the 25th of August. August, while Santiago hosts the headquarters of the United Nations Economic Commission for Latin America and the Caribbean the third forum on the first and second of September, while Beirut hosts the ESCWA headquarters of the fourth forum dedicated to the Arab countries on the fifteenth of September, and the initiative concludes with the holding of the Fifth Forum in Geneva, the headquarters of the Economic Commission for Europe on the twentieth From September, the results of these meetings will be presented at the Sharm el-Sheikh conference in November.

Dr. Mahmoud Mohieldin, Climate Pioneer for the Egyptian Presidency of the Conference of Parties to the United Nations Climate Change Convention COP27, says that this initiative aims to discuss investment opportunities in the food and water sectors, develop irrigation systems, increase agricultural productivity, new and renewable energy and related infrastructure, and digital transformation in the management and operation of these sectors. This helps in the actual implementation of climate projects, thus achieving the goals of climate action and providing job opportunities in the five regions and their affiliated countries.

Mohieldin explained that the first forum will be held in Addis Ababa under the title “The Road to COP 27: The African Regional Forum on Climate Initiatives, Climate Action Financing and Sustainable Development Goals”, with high-level official Egyptian participation, where the forum’s activities are scheduled to witness participation – by default. – Ambassador Sameh Shoukry, Minister of Foreign Affairs and Chairman of the Sharm El-Sheikh Conference, Minister of Environment Dr. Yasmine Fouad, Minister of International Cooperation Dr. Rania Al-Mashat, Dr. Mohamed Farid, Chairman of the Egyptian Stock Exchange, along with a large number of African ministers, United Nations officials, businessmen, investors, representatives of financing organizations and banks development from within and outside the African continent.

The forum will witness a number of sessions that discuss tools for a just financial transition, raising the level of investment in climate change adaptation measures, ecosystem mechanisms, reducing risks resulting from natural disasters, reducing losses and damages resulting from climate change and investing in confronting it, and ways Going green in Africa, mobilizing and unifying the efforts of the private sector on climate action.

The forum’s activities include holding 6 round tables over the three days of the forum. These tables discuss access to energy sources, the equitable transformation of the energy and transport sectors to environmentally friendly sectors, food security, climate-smart farming methods, building solid ecosystems capable of adapting to climate change, digital transformation, and developing climate-smart agriculture. The African carbon market, the blue economy and the provision of water resources to cities of all kinds.

The forum aims to mobilize funding and ensure the flow of investments to build an ecosystem in Africa that is resilient in the face of climate change, as well as pushing forward Africa’s development agendas 2030 and 2063, and finding environmentally friendly climate and economic solutions that contribute to achieving the sustainable development goals as a whole in Africa, and increasing aspects of Leverage the African carbon market, remove obstacles to debt swaps related to climate action and adaptation measures, and enhance cross-sectoral and country-to-country collaboration to manage climate action risks and transition to a green economy.