Dr. Rania Al-Mashat, Minister of International Cooperation, Jim Huai Niu, Executive Director of the Forum’s Center for Nature and Climate, Andrew Steer, President of the Bezos Earth Fund, and Tracy Francis of McKinsey & Company, as well as representatives of HSL Technologies, Inc. Temasek Trust, at a global press conference on the sidelines of the World Economic Forum, where the initiative “Catalyst Partnership between Non-Profit Organizations and the Government and Private Sectors to Increase Funding for Climate Action” was launched.
The initiative aims to create constructive partnerships between non-profit organizations and the government and private sectors, in order to mobilize funds and investments to confront climate change and encourage green transformation, increase available resources and additional financing to implement the climate action agenda worldwide, and support international efforts aimed at bridging the climate financing gap. Preliminary discussion during a high-level session within the activities of the Climate Conference in Sharm El-Sheikh.
During the press conference, Dr. Rania Al-Mashat, Minister of International Cooperation, thanked the World Economic Forum for launching this initiative, noting that the implementation of the goals of the COP 27 climate conference by moving from climate pledges to implementation requires the implementation of financial commitments and the mobilization of resources from developed countries and the private sector, as well as Non-profit organizations.
The Minister of International Cooperation stated that this initiative is based on the calls of the Egyptian presidency during the COP 27 climate conference in Sharm El-Sheikh, which stressed the importance of the need for the role of non-profit organizations to expand the scope of climate financing and launch private investments to stimulate the transition to a green economy, explaining that Egypt will work with The World Economic Forum in order to build effective and impactful partnerships between the government, private sectors and non-profit organizations.
Al-Mashat pointed to the vital role that these institutions can play in supporting climate action in different countries, and that partnerships between them and governments and the private sector can unleash the capabilities and resources available, whether on the technical or financial side, to support the climate action agenda, explaining that The 2% of the resources of non-profit organizations that are directed to climate action must be increased to meet the climate ambitions of different countries, especially emerging and developing countries.
And she continued: Climate and development cannot be separated, and climate standards and environmental practices must be integrated into all development projects. .