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Dr. Khaled Fahmy: One of the most important outputs of COP 27 is reaching a consensus on losses and damages

Under the title “The Most Important Outputs of the Climate Change Conference COP 27”, the Center for Environmental Planning and Development at the Institute of National Planning held a symposium by Dr. Khaled Fahmy, Professor of Environmental Economics at the Institute and former Minister of Environment. Institute and beyond.

In his speech during the symposium, Dr. Khaled Attia explained that the most important feature that distinguishes the climate change conference that was held recently compared to the previous versions of the conference is its focus primarily on the rapid transformation of implementation and application, because since the Paris Agreement of 2015, the pace of implementation has not been as hoped for as it was previously agreed upon. .

Dr. Attia pointed out that one of the most important outcomes of the COP 27 conference is the request of developed countries to move quickly to assist developing countries in many issues, including those related to the need to find new and innovative financing methods to treat the impact of climate change for these countries with the help of the private sector and international organizations, as well as work to assist developing countries in Finding clean sources of energy and reducing their prices, in addition to food security issues.

Dr. Attia added that the agricultural sector is one of the sectors most affected by climate change, hence the need to change the patterns of consumption behavior of individuals, commensurate with the gap that exists in the current period, in addition to issues of water security, climate change and sustainability.

For his part, explained A. Dr.. Khaled Fahmy said that discussing the activities and outputs of the COP27 Climate Change Conference is an important matter in order to find out what has been reached regarding the application of its outputs, and to try to conclude and predict what will happen in COP 28 and the conferences that follow.

During the symposium, Fahmy reviewed the current state of the global climate and the justifications for adhering to the 1.5°C target, as the latest report of the International Committee on Climate Change 2022 indicated that the world is expected to reach the level of 1.5°C during the next two decades, pointing to the report’s emphasis on the necessity of commitment. With 3 measures of particular importance, namely, abandoning the use of fossil fuels, due changes in dietary habits, and moving towards greener cities.

He referred to the results of the COP 26 Climate Summit in Glasgow, which aimed to cut emissions in half by the end of 2030, reviewing the conclusions reached by all parties at the end of the conference and the consequent environmental policies in some countries, explaining that one of the most important outputs of the COP 27 Conference of the Parties was reaching a consensus. On losses, damages and compensation for communities affected by climate change, referring to what was done under Article 6 of the Paris Climate Agreement in 2015 related to carbon trading, where the COP 27 witnessed talks on carbon markets with concerns about how to include carbon removal in the new non-transparent markets.

In addition to the above, Dr. Khaled Fahmy discussed some of the pioneering environmental initiatives in Egypt, such as the issuance of green bonds as one of the forms of green financing to finance sustainable projects related to the environment and climate in many sectors such as clean energy projects, smart transportation, sea water desalination, sewage and other projects that support transformation. the green.



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