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Environment Minister: We are working on establishing a unit to support environmental and climate investment

Yasmine Fouad, Minister of the Environment, stressed that Egypt had a proactive vision in calling for a link between the climate change agreements and biological diversity in the climate and biological diversity conferences, so that one of the most important results is that we reach the adoption of a fund for losses and damages for climate change and another for biological diversity. To create funding sources of up to $30 billion to fight climate impacts on biodiversity to protect natural resources.

She explained that Egypt is completing the path at the next climate conference in the UAE with the nature-based solutions initiative, and working on the unity of these issues with each other, stressing the start of the first working sessions with the German presidency in early February.

This came during a meeting with Dr. Yasmine Fouad, Minister of the Environment, with members of the Senate Energy, Environment and Manpower Committee headed by Representative Abdel Khalek Ayad and Representative Noha Zaki, and in the presence of Ambassador Mohamed Nasr, Director of the Climate Change, Environment and Sustainable Development Department at the Ministry of Foreign Affairs, and Eng. Sherif Abdel Rahim, Head of the Central Department of Changes. Climate Department of the Ministry of Environment, and a number of committee members and leaders of the Ministry of Environment, in order to review the results of the Conference of the Parties to the United Nations Framework Convention on Climate Change COP27.

The Minister of Environment referred to the achievements made at the national level, as the second phase of the national climate change dialogue will be completed by holding a set of consultative sessions among the parties that participated in the climate conference at the level of the Republic to introduce the results of the conference and work to mobilize their efforts within the framework of the national strategy for climate change. Because it is the general framework for achieving Egypt’s goals in addressing the effects of climate change. The government is also working to support investment in the environmental sector, especially in the agricultural waste sectors, as we have 40 million tons of agricultural waste annually, and a strategy has been developed to manage these wastes, showing their locations and offering benefit opportunities. Including them in the private sector, investing in them, recycling them and converting them into added value.

The Minister of Environment added that an environmental and climate investment unit will be established to support investment and partnerships with the private sector, and the second phase of the green and smart projects competition will be announced nationwide in cooperation between the Ministries of Planning, Environment and Communications next March to give the governorates an opportunity to put forward and discuss projects and present them during the climate conference. Next cop28.

The Minister of Environment announced the launch of the first national adaptation plan. To be a main supporter of obtaining financing for adaptation projects in cooperation with partners at all levels from the private sector, the government, investors, youth and NGOs to support adaptation and search for the investment part in it, and how to make these interventions profitable and attractive for the entry of the private sector to invest in them.

The Minister of the Environment indicated that the package of environmental projects reflects our national priorities in the Nationally Determined Contributions Plan, and it also sends a message to the world to implement projects capable of adapting to climate change. Therefore, the idea of the Novi Program for new and renewable energy projects was developed so that the program reflects the method of linking the environment and human needs. In which energy, agriculture and water desalination projects are linked, and funding estimated at about $500 million has been obtained to support the replacement of 10 gigawatts of conventional energy with new and renewable energy, which is part of Egypt’s national contributions plan by 2030 and to attract private sector investment, which is provided From the USA, Germany, Japan and the countries of the European Union.



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