Davos Initiative to Scale Up Climate Finance Builds on Directions Set at COP27: MashatSource: www.export-egypt.com 1/18/2023, Location: Africa |
|
|
|
|
|
Egypt’s Minister of International Cooperation Rania el Mashat said climate change is a global challenge that requires consolidating efforts and promoting commitment to climate action, as well as making the best use of available resources to finance the green transition.
Mashat was speaking during a session, held as part of the World Economic Forum (Davos 2023), to launch an initiative to encourage partnerships between non-profit organizations and the private as well as government sectors to scale up private finance. To achieve the goals of the UN Climate Change Conference, developed nations must deliver on their climate finance commitments, the minister said, adding that "this call to action is extremely timely, as it builds on the directions set during COP27 in Sharm El-Sheikh, ‘the COP of implementation’ under the Egyptian presidency." "We need more philanthropies to join us at the table and help scale up multilateral development bank finance to unlock private investments to accelerate the green transition," Mashat said. "Egypt will work closely with the World Economic Forum to build effective and impactful philanthropic public private partnerships, and promote the role of the prominent ‘P’ – Philanthropy." she added. During the event, Mashat touched upon the Sharm El-Sheikh Guidebook for Just Financing, which brings the idea of 'Justice' to climate finance to move from pledges to implementation. The Guidebook emphasizes the need to scale-up investments towards climate adaptation and mitigation projects, while highlighting the importance of improved access to quality and quantity climate financing that leaves no one behind through a variety of mechanisms and tools to promote just financing. The session tackled the role of philanthropies in stimulating climate action, and how the government and private sector could benefit from the tools and resources of the non-profit institutions to close a financing gap that has soared to up to $100 trillion in the wake of COVID-19 and other urgent global challenges. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
