EBRD extends $ 21.3 m loan to Red Sea wind energy farm in Egypt
The European Bank for Reconstruction and Development (EBRD) is supporting the development and sustainability of ...
Sisi urges embracing principles of equity, fair transition while addressing climate crisis
President Abdel Fattah El Sisi said it is crucial to reiterate the principles of equity, fair transition, and Common but Differentiated Responsibilities as fundamental principles in the multilateral framework while addressing climate crisis.
Addressing the 28th United Nations climate change conference (COP28), Sisi said “I look forward for this conference to foster a robust international framework that reinvigorates cooperation and to direct the necessary financial and technical support to developing countries.”
He said “Egypt, drawing upon its chairmanship of last year’s conference in Sharm El-Sheikh and the direct impact of climate change it endures, acknowledges the pressing need to work toward enhancing collective and urgent action to address the challenge of climate change. This shall take place in a manner that bolsters our ability to ensure sustainable development, that aligns harmoniously with the environment, safeguards Planet Earth for future generations and addresses the devastating climate impacts and disasters that current generations are experiencing, which surpass the capacity of nations, particularly developing countries, to manage and curb their impact on the diverse development domains.”
“Our responsibility, as leaders gathered today, is to convey a clear message that we are committed, and even ambitious, in our actions and their implementation, in line with what we have agreed upon in Paris, whether it concerns responding to scientific recommendations or committing to responsibilities and pledges. This shall take place in alignment with the respective capacities of each country and the magnitude of its historical and ongoing contributions to the current climate challenges,” the president highlighted.
Sisi added “We were keen, in Sharm El-Sheikh, on launching several courses of action that would contribute to achieving our aspirations in this regard. Those included primarily the establishment of the Loss and Damage Fund, which aimed to provide financial assistance to nations most vulnerable and impacted by the effects of climate change; the Just Transition Action Plan and the Emissions Reduction Action Plan. We have also paved the way for achieving the Global Goal on Adaptation to Climate Change.”
“In view of the outcomes we have experienced this year, particularly the headway achieved in deliberations on the “Just Transition” and the activation of the “Emissions Reduction Action Plan” in the energy and transport section. Furthermore, we have reached recommendations to invigorate financing mechanisms for developing countries, in order to mitigate the climate losses and damages and activate the relevant funding pool,” Sisi added.
The president underlined “However, the success of these efforts is contingent upon providing sufficient funding, whether in terms of its instruments and mechanisms or its sources, volume and ease of access. Recognizing the need for alignment, we must collectively forge a shared vision that encompasses agreed-upon recommendations for the development of all system components, including the financial institutions and policies as well as evaluation institutions or the private sector.”
“We firmly believe that achieving these goals is possible, if we embrace a spirit of cooperation and participation. Therefore, we urge the international community to adopt more resolute actions in the Dubai Conference, and to expand the engagement of community stakeholders, while avoiding unilateral measures that only serve narrow interests. I look forward for this conference to foster a robust international framework that reinvigorates cooperation and to direct the necessary financial and technical support to developing countries,” he added.
“Finally, I would like to reiterate Egypt’s commitment to addressing the challenge of climate change. I would also like to extend a global appeal for all stakeholders to provide full and genuine support to the United Arab Emirates, to ensure that the Dubai Conference delivers historical outcomes, that assure all peoples of the world that we are determined, and even capable, God willing, to save and protect Planet Earth, the home of our lives, and the future of our children and grandchildren, generation after generation,” the president concluded.
اترك تعليقا