Mahmoud Mohieldin.. The Loss and Damage Fund is one of the achievements of the climate conference in Sharm El Sheikh
Mahmoud Mohieldin.. The Loss and Damage Fund is one of the achievements of the climate conference in Sharm El Sheikh
The 27th Conference of the Parties (COP) -COP27- had an African effectiveness and a global presence, and this was confirmed by Dr. Mahmoud Mohieldin, “the United Nations Special Envoy for Financing the 2030 Agenda for Sustainable Development, and the climate pioneer for the Egyptian Presidency of the Conference of the Parties (COP) to the United Nations Climate Change Convention COP27,” noting - also - that Egypt has been able Through its presidency of the twenty-seventh Conference of the Parties (COP) in Sharm El-Sheikh last year, it achieved realistic goals in the path of international multilateral solidarity, with regard to the file of climate losses and damages.
This confirmation was part of his speech in a session on “The Program for Financing Losses and Damages Resulting from Climate Change for Countries Most Affected by Climate Change, Especially Small Island Developing States,” a session that came within the activities of “New York Climate Week.”
The session was attended by a high-level audience, as each of them participated: “James Daniel” “Engineer specializing inNatural Disastersat Karlsruhe Institute of Technology”, “Ana Gonzalez-Pelez” “Fellow at the University of Cambridge Institute for Sustainability Leadership”, “Rowan Douglas” “Chair of the Operating Committee of the Insurance Development Forum”, and “Adarsh Krishnan” “Climate and Transition Risk Analyst”. In the Howden Collection."
There, Dr. Mahmoud Mohieddin said: “The world has become affected by global warming, and this means an increase in the rates of losses and damages caused by climate change, especially after the Earth’s temperature has risen significantly.”
Therefore, Mohieddin proposed a solution to these climate developments, which is to find fair and comprehensive mechanisms of action through which we can confront the effects of climate change. Adding that the losses and damages of climate change include the deterioration of economies, and also include non-economic deteriorations resulting from successive climate changes. From quantifiable financial losses, to the costs of addressing climate migration, to the erosion of cultural heritage.
In the same context, Dr. Mahmoud Mohieldin explained how developing and island countries are the countries that suffer more losses than others when climate change occurs, and despite this, they - that is, developing and island countries - are the least responsible for climate phenomena, such as global warming.
Concerning this, he continued, saying: “This unjust equation requires the presence of sufficient, fair, comprehensive and effective financial support. So that these countries can adapt to various climate changes, and to deal with the losses and damages resulting from them, and this is through soft financing mechanisms and procedures for mobilizing it from multiple sources.”
Dr. Mahmoud Mohieldin continued his speech, stressing the feasibility of exchanging information on climate and environmental risks, and the importance of this exchange in directing adequate funding towards these risks without delay.
At the conclusion of his speech at the session “The Program for Financing Losses and Damages Resulting from Climate Change for the Countries Most Affected by Climate Change, Especially Small Island Developing States,” he stressed the importance of supporting all parties to finance losses and damages in the countries most affected by climate change, and the importance of stimulating such programs - such as the Loss and Damage Fund - so that we can achieve Sustainable Development Goals (SDGs) locally and regionally. And globally.
