Environment Min. Urges Providing Finance to Achieve Just Energy TransitionSource: www.export-egypt.com 1/15/2023, Location: Africa |
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Environment Minister Yasmine Fouad said achieving just transition to new and renewable energy requires changing the culture and concepts of societies, as well as providing finance and technology.
Fouad's remarks came in a speech that she delievered on Sunday in the second day of the International Energy Forum at Abu Dhabi Sustainability Week (ADSW) that lasts for January 19. The environment minister reviewed the outcome of the UN Climate Change Conference, COP27, held in the Red Sea resort city of Sharm El Shiekh in November 2022. She noted that the COP27 proved the effectiveness of multilateralism, as it reached decisions on the issues of mitigation, adaptation and climate finance, as well as agreeing on the establishment of a fund for losses and damage. Fouad expounded the initiatives launched at the COP27, including the Africa Just and Affordable Energy Transition Initiative (AJAETI) that calls for transferring technology, offering concessional finance and providing access to clean energy. Fouad also spoke about the role of women in countering climate change, for being the most vulnerable to the effects of climate change, noting they play a main part in the interrelationship between energy, water and food. In a related context, the environment minister took part in the high-level first session on transition from the COP27 to the 28th session of the Conference of the Parties (COP28). The session, attended by UN climate change champion for Egypt Mahmoud Mohieldin, focused on important questions about the COP27 outcome and ways to move forward to the COP28. Fouad underlined the importance of the COP28 to be hosted by the UAE, as it will follow up on the implementation of COP27 recommendations on mitigation, adaptation and climate finance, in addition to the governance of the loss and damage fund. |
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