COP29: New commitment to channel $1.3tn of climate finance to developing world annually
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United Nations Climate Change High Level Champion for Egypt Mahmoud Mohieldin said world leaders must come together to turn their words into actions ahead of the United Nations Climate Change Conference (COP27) – due to be held in Egypt in November – in order to to ensure a sustainable future.
“Words cannot help us fight climate change, we need immediate climate action.”
He made the remarks during a panel of the 2nd edition of Egypt International Cooperation forum (Egypt-ICF) under the theme of “from pledges to implementation”.
He expounded “We are deviating from targets by 60 percent,” assuring that it is not Africa to be blamed.
Mohieldin noted that Africa accounts for about 3 percent of the world’s carbon dioxide emissions.
He added that Africa is suffering from poverty, unemployment, and lack of chances for investments.
He said it seems that using gas is okay as a transition source of energy.
“When it comes to decision making bodies at the MDBs (Multilateral Development Banks), we do not have access to finance to support natural gas,” he said,urging to change this.
Mohieldin asked “Can the words of politicians convert into action by the development finance institutions to translate that into finance of the cash networks for Africa,” considering this a good practical solution for the short term.
Words cannot help us fight #ClimateChange, we need immediate #ClimateAction.
At the #EgyptICF “from pledges to implementation”, leaders must come together to turn their words into actions ahead of #COP27 to ensure a #sustainable future.@UNFCCC @Cop27P pic.twitter.com/g9rZPQLYD1
— Mahmoud Mohieldin (@UNenvoyMM) September 8, 2022
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