Egypt Announces Green Investment Initiatives Before COP27| MENAFN.COM

Thursday, 29 September 2022 02:28 GMT

Egypt Announces Green Investment Initiatives Before COP27

(MENAFN- Brazil-Arab News Agency (ANBA))

Cairo – The Egyptian government announced an initiative to encourage investment in climate-related projects as part of the 27th United Nations Conference on Climate Change (UNFCCC COP27), to take place in the city of Sharm El-Sheikh in November. Opportunities in climate-oriented investment projects worldwide will be presented to investors, financial entities, development banks, and authorities in five major forums before COP27.

The first forum will be held from August 2 to 4 in Addis Ababa, Ethiopia. The second will take place in Bangkok, Thailand, on August 25. The third will be held in Santiago, Chile, from September 1 to 2. Beirut, Lebanon, will host the fourth on September 15. The initiative will wrap up with the fifth event in Geneva, Switzerland, on September 20.

The cities chosen are the current headquarters of the UN economic committees for their regions, and investment projects in these areas and countries will be discussed at each event. The results of the meetings will be presented at the Sharm El-Sheikh Climate Conference.

Sustainable investments

The head of Climate Affairs of the Egyptian Presidency and COP27, Mahmoud Mohieldin, said the initiative aims to discuss investment opportunities in the food and water sectors, as well as developing irrigation systems, increasing agricultural productivity, new and renewable energies, and related infrastructure. Digital transformation in management and how to operate these sectors will also be addressed, which could help implement climate projects effectively, achieve the proposed goals, and offer job opportunities in the five regions and countries.

Addis Ababa

The forum in Addis Ababa will take place under the title“Towards COP27: Regional Forums on Climate Projects to Accelerate Climate Action and Advance the Sustainable Development Goals” and will feature the participation of high-level Egyptian officials. The event will have a series of sessions to discuss topics such as mechanisms to raise the level of investment for adaptation to climate change, reduction of risks arising from natural disasters, reduction of losses and damages from climate change, and implementation of the green economy in Africa, among others.

Forum activities will include six round tables over three days. The event will aim to mobilize funding and guarantee the flow of investments to build an ecosystem in Africa strong enough to face climate change, find environmentally friendly climate and economical solutions to achieve sustainable development goals, and encourage the African carbon credit market, among other objectives.

Translated by Elúsio Brasileiro

©Vissouf Sanogo/AFP

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