Cop 27 "Solutions Day" Highlights:Egypt’s Minister of Planning and Economic Development launches the "Friends of Greening National Investment Plans in Africa and Developing Countries Initiative" during Solutions Day.

H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, launched today the "Friends of Greening National Investment Plans in Africa and Developing Countries" initiative.

The launch event took place during the second session of Activities of the Solutions Day, organized by the Ministry of Planning and Economic Development and held during the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), hosted by Egypt in Sharm El-Sheikh from November 7-18.8.
During her speech, Dr. Hala El-Said explained the need to work cooperatively to find solutions to address climate change, because developing countries, especially in Africa, are the most vulnerable to the effects of climate change under all climate scenarios.
El-Said added that governments need to formulate their economic policies and national investments in a way that affects climate change.
El-Said pointed out that the greening of national investment plans is one of the powerful solutions to help the parties achieve the goals of the United Nations Framework Convention on Climate Change and its Paris Agreement.
El-Said indicated that Egypt launched the "Environmental Sustainability Standards Guide", intending to transform the model of both the government and the private sector towards accelerating the transition to a green economy and green recovery as well as increasing the share of the green economy.
El-Said explained that the share of green projects in the national investment plan in 2020/2021 amounted to 15%, to reach 40% during the current year.
El-Said added that it is aimed to reach 50% in the next fiscal year 2024/2025, through investments in clean transportation, water resource management, waste management, renewable energy, and energy efficiency, as well as the decent life initiative.
 
 
El-Said added that the main pillar of the initiative was developing the process of planning and designing economic policies in a way that allows for the main factors in the impact of climate change, and measuring the process of evaluating efforts made in the field of mitigation and adaptation while identifying gaps and the necessary support for them.
El-Said explained that the friends of the initiative are voluntarily committed to working to increase the share of green projects in their national investment plans by no less than 30% in 2030 while tracking and monitoring public investments directed at climate action and identifying gaps and required support.
This is in addition to establishing a "Knowledge Exchange Platform" and a "Capacity Building Center" to share best practices and experiences, and develop tools and methodologies that support environmentally friendly efforts in national green investment plans.