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Blair: Sharm El Sheikh Guidebook for Just Financing practical tool for confronting climate change
Tony Blair, President of the Tony Blair Institute for Global Change, said that the Sharm El Sheikh Guidebook for Just Financing is a practical tool that identifies the challenges caused by climate change and provides pathways for development actors to leverage public and private sector finances.
He made the remarks during a panel of the Egypt-International Cooperation Forum (Egypt-ICF).
“This guidebook is a practical and technical example of the leadership of Egypt’s presidency in the lead-up to COP27. I want to congratulate Dr Rania A. Al-Mashat and the government for launching this guidebook,” he added.
“It is now about implementation”, Blair asserted. “We have to increase our commitment for developing countries. It is more important now besides fighting the climate change itself,” Blair stated.
Blair also hailed Egypt’s Nexus on Water, Food and Energy (NWFE)program, adding that “NWFE is one of the most exciting platforms in the climate action area, it is an ambitious and practical platform in this regard”.
He also highlighted the impressive story of the Benban Solar Power Plant, which is the largest in Africa and the fourth biggest globally, adding that such a project serves as an example for other countries to achieve the Sustainable Developmetn Goals (SDGs) and climate action simultaneously.
On Thursday, the Minister of International Cooperation Rania Al-Mashat revealed the first draft of the Sharm El-Sheikh Guidebook for Just Financing, which will be launched during the anticipated COP27 that is scheduled to be held in November.
Al-Mashat made the announcement during a roundtable discussion held on Thursday on the sidelines of Egypt-ICF 2022 entitled: “Sharm El-Sheikh Guidebook for Just Financing.”
“This guidebook translates commitments into implementable projects and captures opportunities to leverage and catalyze finances to support the climate agenda, especially in Africa, with the key objective of maximizing the effectiveness and efficiency of existing climate finance architecture through proposing an actionable roadmap for all the stakeholders to achieve just financing outcomes,” the minister explained.
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