Mahmoud Mohieldin: The launch of the green hydrogen initiative is an indicator of Egypt’s success in the COP27 presidency
Mahmoud Mohieldin: The launch of the green hydrogen initiative is an indicator of Egypt’s success in the presidencyCOP27
On the screen of the “CNBC Arabia” channel, Dr. Mahmoud Mohieldin, “the United Nations Special Envoy for Financing the 2030 Agenda for Sustainable Development, and the climate leader for the Egyptian Presidency of the Conference of the Parties (COP) to the United Nations Climate Change Convention COP27,” participated in a television symposium under the title: Climate…the planet is changing. In it, he expressed his happiness with the recommendations of the Sheikh’s Explanation Conference “COP27”, especially after the conference participants were able to launch initiatives of great importance, especially in the field ofgreen hydrogen at the Arab and African levels.
In this television seminar, which was accompanied by Haitham Al-Ghais, Secretary-General of OPEC, and Francisco La Camera, Secretary-General of the Renewable Energy Agency, Mohyeldin said: “The world needs a strong push in financing development and climate action. The presence of fair and adequate financing – as well as more effective – is an important step towards meeting the needs of countries.” Developing.”
Regarding this necessary step,The Climate Pioneer stated that funding for climate and development projects in developing countries is completely unfair and insufficient. As for it being unfair, Dr. Mahmoud Mohieldin saw that this is due to the reliance – entirely – on debt, which burdens developing countries that are still required to pay the billClimate Crisis. As for the insufficiency of these funds, he attributed the reason to the fact that climate projects in developing countries need permanent financing amounting to $1.2 trillion until the year 2025, And $2.4 trillion annually until 2030; While developed countries have only fulfilled these funds – from 2009 until now – with only one hundred billion dollars!
In the same context, Mohieldin explained how these climate financing are ineffective. Because of the long period of time from the start of negotiations between developing and developed countries – in addition to development banks and financing institutions – until the fruits of these climate finances began to be reaped.
On the other hand, he stressed the importance of time in dealing with the climate crisis. Because human life has become threatened, and all of humanity has become obligated to pay huge sums of money as a result of procrastination in implementing projects to help overcome the climate crisis. Here he said: “The world is in a rapid race to support the three lines of defense with which it faces the climate crisis, which are: reducing harmful emissions – adapting to climate change – dealing with the losses and damages resulting from it.”
Dr. Mahmoud Mohieldin stressed that this confrontation is a societal responsibility distributed among individuals, companies, and governments alike. He also stressed the importance of defining responsibilities internationally. To achieve the goal ofnet zero emissions, and also amend the plan to reduce the degree of emissions that deviate from the target rate by 2030.
He stated that the goals of theParis Agreementare still suspended, pointing out that addressing the stagnation of this important agreement lies in the presence of a strong will among politicians, the use of technological solutions in all fields, and the diversification of the necessary funding sources; To confront the climate crisis.
For all of this, 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 Convention on Climate Change COP27” confirmed that Egypt and the UAE’s hosting of the twenty-seventh and twenty-eighth climate conferences is a message to the whole world to focus on comprehensive sustainable development strategies, taking into account that developing countries do not have the ability to practice forms of sustainable development without financial restrictions. And executive.
Mohieldin also called for focusing – also – on priority actions in the climate field between developing countries and emerging markets, the first of which is: adapting to climate change, then compensating for losses and damages resulting from it, and the necessity of starting to implement the technological requirements of this vital field, and financing its projects fairly, adequately and effectively.
While he called for prioritizing climate action, he pointed out that the Arab countries in general and the Gulf countries in particular have begun their ambitious quest to diversify their economic activities, rejecting absolute dependence on oil revenues. They have also begun investing in the fields of digital transformation and renewable energy, but rather in all fields that depend ongreen intelligence, in addition to investing in human energy; In order to promote non-oil economies.
At the conclusion of the symposium, he expressed his happiness with the recommendations of theSharm El-Sheikh Conference, saying: “It is a conference that Egypt succeeded in chairing, as it helped launch initiatives of great importance in the field ofGreen Hydrogen.” He believed that Arab and African countries are capable of setting procedural standards for the production and export of this important form of energy.
