Egypt’s International Cooperation Minister Rania Al-Mashat emphasized the need for adequate financing tools to achieve the climate action goals. She highlighted that one of the main obstacles to the climate action targets is the lack of climate financing.
The statement was given by Al-Mashat during the launch of a webinar series by HSBC Egypt which is aimed at the transition to the net-zero goal. To strengthen the climate mitigation and climate adaptation strategies innovative solutions backed by the climate finance are the urgent need of the hour, she added. While talking about climate financing, she also highlighted Egypt’s target to transition to a green economy and the 2050 Climate Change strategy.
The newly launched webinar series will focus on the role of the financial sector in strengthening the net-zero target and achieving a sustainable lifestyle. Egypt is going to host the UN climate change conference (COP27) this year in November and these climate actions are employed to build the resilience to climate change in the country.