Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27)

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National Strategy for Climate Change 2050

05 July, 2022
01:40 AM
15 September, 2022
02:01 PM

Egypt launched on Thursday 19/5/2022 the National Strategy for Climate Change 2050, five months ahead of the country hosting of the UN Climate Change Conference 2022 (COP27) in the Red Sea city of Sharm El-Sheikh.

What does the 2050 strategy comprise?

The strategy is based on five main pillars, with each one containing several sub-goals.

1- The strategy's first pillar is to achieve sustainable economic growth and low-emissions development in various sectors, the minister noted.

2- The second pillar aims to build resilience and adaptability to climate change, with a focus on mitigating the negative effects of the global phenomenon.

3- The third pillar aims to improve governance and management in fields related to climate change, with the aim of achieving the country's strategic goals and luring more investments and opportunities for climate finance.

4- The fourth pillar aims to improve infrastructure for financing climate activities and promoting domestic green banking and green credit lines, the environment minister pointed out.

5- The fifth pillar focuses on enhancing scientific research, technology transfer, knowledge management and awareness to combat, alleviate and adapt to climate change.

Financing the strategy

The potential sources of funding for the newly issued strategy includes both international and local sources.

Under the framework of the United Nations Convention on Climate Change and the Paris Agreement, the international sources comprise the Green Climate Fund, banks and multilateral institutions such as the World Bank and the African Development Bank, in addition to parties such as the French Development Agency and others.

Local sources include country's budget and private sector investments in the respective fields, as per the minister.

 

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