Report highlights 2 Egyptian projects among major clean energy ventures in N.Africa
A report by Energy Capital & Power highlighted two Egyptian projects – Suez Wind Power ...
Egypt ranks 2nd among five Arab countries on 2024 CCPI
Egypt came in the second position among five Arab countries included in the 2024 Climate Change Performance Index (CCPI), ranking number 22.
Morocco came at the top of Arab countries on CCPI ranking number 9, followed by Egypt number 22, Algeria number 54, UAE 65, Saudi Arabia at the tail of the CCPI list ranking 67.
Published annually since 2005, the Climate Change Performance Index (CCPI) is an independent monitoring tool for tracking the climate protection performance of 63 countries and the EU. Every year, the CCPI sets off important public and political debates within the countries assessed.
The CCPI aims to enhance transparency in international climate politics and enables comparison of climate protection efforts and progress made by individual countries. The climate protection performance of those countries, which together account for more than 90% of global greenhouse gas (GHG) emissions, is assessed in four categories: GHG Emissions, Renewable Energy, Energy Use, and Climate Policy. The countries’ commitments under the Paris Agreement are still insufficient: to limit global warming to a maximum of 1.5°C a more ambitious climate action is urgently needed.
In this context, the CCPI has gained further relevance as a long-standing and reliable tool to identify leaders and laggards in climate protection.
The impact of the CCPI as a climate protection monitoring and communication tool also depends on whether and how the index is used by different actors.
The CCPI is increasingly used by financial actors to rate sovereign bonds. Given the key role of the financial market in determining whether investments are made in high-emission or low-emission infrastructures and technology developments for shifting the trillions. Therefore, the CCPI is an important tool to promote the reallocation of investments by providing crucial information on climate change for Environmental, Social, and Governance (ESG) ratings for finance actors.
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