Mahmoud Mohieldin.. The energy transition requires mobilizing financing and technological solutions

Mahmoud Mohieldin.. Energy transition requires mobilizing financing and technological solutions

Dr. Mahmoud Mohieldin - the United Nations Special Envoy for Financing the 2030 Agenda for Sustainable Development, and climate champion for the Egyptian Presidency of the Conference of the Parties (COP) to the United Nations Climate Change Convention COP27 - participated in the symposium to launch the report: “Breakthrough AgendaBreakthrough Agenda, for the year 2023”, organized bythe International Energy Agency and the International Renewable Energy Agency, in cooperation with the Climate Pioneers Team in theUnited Nationsand the Organization for Economic Co-operation and Development.

Participating in the symposium - in addition to Dr. Mahmoud Mohieldin - were: Francesco La Camera, Director General of the International Renewable Energy Agency, and Fatih Birol, Executive Director of the International Energy Agency.

There, Mohieddin emphasized the fact thatenergy transition - in a fair manner - requires more cooperation between all actors; So that the necessary funds can be mobilized, and technological solutions can be applied that help implement thisGreen Transformation.

Regarding the report: “Breakthrough Agenda, for the year 2023,” Dr. Mahmoud Mohieldin said: “The second report of this international agenda indicates a development in the steps to implement the transformation in the energy sector, and that this development has resulted from effective cooperation between the concerned parties - both governmental and non-governmental - and international organizations.” Pointing out that this agenda was launched duringThe Twenty-Sixth Conference of the Parties (COP) in Glasgow.

He also added that the report addresses solutions that help all peoples of the world achieve transformation in the energy sector - and other sectors - in a fair manner. He drew attention to the importance of establishing partnerships between the public and private sectors. In order to activate and implement these solutions in a way that ensures a comprehensive and rapid transformation, this is with the necessity of including these solutions inNationally Determined Contributionsat the country level.

On the other hand, Dr. Mahmoud Mohieldin praised what he observed at theAfrica Climate Summitin Nairobi of African determination to move forward towards green growth, in addition to the manifestations of cooperation between energy organizations and development finance institutions. To mobilize the funds and provide the technology necessary to achieve this green growth.

In the same context, Mohieldin expressed his admiration for a number of international initiatives that work to finance and implement climate projects, the most important of which - according to Dr. Mahmoud Mohieldin - is the “Bridgetown” initiative, stressing the need to accelerate climate action and what is related to it; So that we can reduce emissions and achieve climate goals in general.

The Egyptian climate pioneer reported that there is a strong link between the Breakthrough Agenda and the Sharm El-Sheikh Adaptation Agenda, which was launched atThe Twenty-Seventh Conference of the Parties (COP) -COP27- in Sharm El-Sheikh last year, and was launched with the efforts ofthe Egyptian Presidency For the conference, in cooperation with climate pioneers. He also made clear that these two agendas - and their implementation - require increased cooperation between all parties.

Regarding this cooperation, Mohieddin continued, saying: “This cooperation is required when implementing the breakthrough agenda, and when implementing climate action in general, and focusing on relevant international partnerships, while strengthening work at the regional and local levels, and supporting investment in the field of studies on technology related to climate action.

At the conclusion of his speech, Dr. Mahmoud Mohieldin called for reformulating the governing policies in the field of climate action and its green projects, as he indicated the necessity of supporting international cooperation in this field, and making the interests of peoples a top priority, while obliging the private sector - as well as companies - to adopt clear standards for environmental and social practices, in addition to governance.