Dr. Mahmoud Mohieldin, UN Climate Change High Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, stressed the need to mobilize more investments needed to enhance the resilience of infrastructure in the face of climate changes, especially in light of some of tensions that the global financing environment is witnessing and the lack of support directed to the file of resilience.
Mohieldin’s remarks came during his speech in a session entitled “resilience Imperative” within the framework of the Energy Day activities at COP27, in the presence of a number of experts and representatives of the concerned authorities.
Mohieldin stressed the need to strengthen the file of resilience as one of the most important lines of defense in the face of climate changes, noting the impact of rising temperatures and the subsequent wildfires on the performance of all vital systems. This , he added , reuqires further support for measures of resilience in the face of climate changes.
The climate champion pointed to the importance of scientific solutions accompanied by the necessary funding to enhance resilience.
In this regard, Mohieldin referred to the report of the High-level independent Expert Group on Climate Finance, commissioned by the Egyptian and British presidencies of the COP27 and COP26 climate conferences, chaired by Vera Songwe, Executive Secretary of the United Nations Economic Commission for Africa, Nick Stern, Professor of Economics and Government, and President of the Grantham Research Institute, which confirmed the necessity of providing additional financing for the energy and infrastructure sectors and facing the budget constraints .
On the other hand, Mohieldin referred to the agreements that were signed regarding green hydrogen, stressing the need to provide the necessary technology to enhance the resilience of the energy sector, which will have a direct impact on society as a whole.
In another context, Mohieldin explained the importance of expanding the scope of concessional financing, which contributes to directing more private sector investments to sectors that are difficult to finance.
According to Mohieldin, COP27 does not seek to complicate matters, but rather aims to implement.
So far, many good steps have been taken, expressing his hope to achieve more partnerships between the public and private sectors during the remaining days of the Climate Summit.
