Dr. Mahmoud Mohy El -Din, the climate leader of the Egyptian presidency of the Conference of the United Nations Convention on Climate Change and the United Nations Special Envoy concerned with financing the sustainable development agenda 2030, stated that it is necessary to enhance the role of the private sector to push climate work through a holistic approach that deals with the files of mitigation, adaptation, financing, losses and damage.
This came during his speech at the World Climate Summit as part of the activities of the Water Day at the Climate Summit in Sharm El -Sheikh, on Monday.
With regard to the mitigation file, the climate pioneer explained that there is remarkable progress on the part of the private sector with this file, and this is evident through many projects, especially in the field of green hydrogen.
Muhyiddin called for more efforts to reduce emissions, and he also called on governments and multilateral development banks to move from billions to trillion through better financial frameworks, pointing to the readiness of the “GFANZ” network to provide the necessary support.
With regard to the adaptation file, he pointed out that the participation of the private sector in financing adaptation to Africa does not exceed 3%, and he expressed his hope to strengthen the role of the sector in this regard through the axis of the triple link between water, food and energy, and to find practical solutions to the challenges facing the private sector.
On the file of losses and damages, Mohieldin explained that there are many promising opportunities for the private sector to invest in early warning systems. Muhyiddin stressed the necessity of fulfilling previous pledges, especially since there are only seven countries that have committed to their stake in the Copenhagen pledge, pointing to the promising opportunities for carbon markets.
On the other hand, Mohieldin stressed the importance of the role of scientific research and technology in supporting the procedures for adapting to the water sector, stressing the need to provide the necessary data. This came during his speech at a session on the implementation of adaptation procedures in the water sector, in the presence of the Dutch envoy for water affairs, Henk Offink.
Muhyiddin pointed out that the agenda of Sharm El -Sheikh adapts gives priority to the water file, and is the product of partnerships with non -governmental actors, climate leaders, and members of the race campaign towards scratch, noting the need for better water management systems through relying on science and technology; What also contributes to the development of early warning systems, pointing to the importance of capacity building and providing the necessary training to support the procedures for adapting to the water sector.
He pointed to a number of projects that can be implemented and financing in the water sector, which resulted in the round regional table in Addis Ababa, in light of the strengthening of partnerships between the public and private sectors, pointing to the importance of science technology in developing water resource management systems and sea water desalination and others..
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