Egypt’s Minister of Planning and Economic Development participates in a consultative session to discuss preparations for UNFCCC COP 27 in Sharm El-Sheikh

H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, participated in the consultative session held by the Ministry of Environment with Mr. Alok Sharma, President of the COP26 Climate Conference, and his accompanying delegation, to discuss preparations for Egypt's hosting of the COP27 climate conference.The session was attended by Dr. Yasmine Fouad, Egypt’s Minister of Environment, Dr. Mohamed Shaker, Egypt’s Minister of Electricity and Energy, Dr. Rania Al-Mashat, Egypt’s Minister of International Cooperation, Ambassador Wael Abu Al-Magd, representative of the Ministry of Foreign Affairs, and Ambassador Mohamed Nasr, Director of the Environment and Sustainable Development Department at the Ministry of Foreign Affairs, Dr. Sherine El Sharkawy, Senior Assistant Minister of Finance for Economic Affairs.During the session, El-Said affirmed the ministry's readiness to continue coordination and communication with the British presidency in preparation for Egypt's hosting of the Conference of Parties to the United Nations Framework Convention on Climate Change COP27, in coordination with the Egyptian Ministry of Foreign Affairs.El-Said also indicated the keenness of the Ministry of Planning and Economic Development to integrate environmental sustainability and climate change issues into the local and national planning process and various economic policies, in addition to establishing many initiatives at the national and regional levels.El-Said talked about the state's efforts to increase the percentage of green projects in the medium-term plan and the investment plan through the application of environmental sustainability standards. El-Said pointed out that the Ministry of Planning and Economic Development, in cooperation with the Ministry of Environment, launched a guide to environmental sustainability standards for the first time.El-Said explained that the percentage of green projects in the investment plan for the year 2021/2020 was 15%, but the current year 2021/2022 reached 30%.El-Said pointed out that the target is to reach 50% by 2024/2025.Moreover, El-Said highlighted the efforts of the Ministry of Planning regarding the economic assessment of the impact of various projects on the climate, and the innovative financing of green projects (Green Bonds).
El-Said also emphasized the role of the private sector as a key partner in achieving sustainable development goals.
She further highlighted the role of The Sovereign Fund of Egypt (TSFE) in attracting green investments commensurate with Egypt's vision of mobilizing a green economy.El-Said talked about the initiative for (a Decent Life), as well as the efforts of TSFE to join the One Planet Initiative and to invest in green hydrogen and clean transportation. El-Said affirmed the ministry's keenness to address climate change in the various regional and international events that will take place during the current year, including the Arab Week for Sustainable Development, which is scheduled to be held next February.