Dr.
Hala Al -Saeed, Minister of Planning and Economic Development, launched today the “Friends of the National Investment Plans Initiative in Africa and developing countries”, during the second session within the activities of the day of solutions supervised by the Ministry of Planning and Economic Development, held during the Conference of the Parties to the United Nations Framework Convention on Climate Change COP27, which is hosted by Egypt in Sharm El Sheikh during the period from 7-18 November.
During her speech, Dr. Hala Al -Saeed explained the need to work collaborating to find solutions to address climate change, in light of the fact that developing countries, especially in Africa, are the most vulnerable to the effects of climate change in light of all climate scenarios, despite their less contribution to greenhouse gas emissions Globalism.
Al -Saeed added that the governments need to formulate their economic policies and national investments in a way that affects climate change, explaining that the preparation of national investment plans represents one of the strong solutions to help the parties achieve the goals of the United Nations Framework Convention on Climate Change and its affiliated Paris Convention, as well as support for the implementation of specific contributions Nationally in the context of achieving sustainable development and eliminating poverty.
Al -Saeed pointed to the launch of Egypt “the evidence of environmental sustainability standards”, with the aim of transforming the model of both the government and the private sector towards accelerating the transition to the green economy, accelerating the green recovery, and increasing the share of the green economy, explaining that the share of green projects from the national investment plan in 2020/2021 has reached 15 %, to reach 40 % during the current year, his follow -up is that it is targeted to reach 50 % in the next fiscal year 2024/2025, through investments in fair transport, water resources management, waste management, renewable energy and energy efficiency as well as a decent life initiative.
Al -Saeed added that the primary pillar of the initiative was to form the process of planning and designing economic policies in a way that allows the main factors in the impact of climate change, and measures the process of assessing efforts in the field of mitigation and adaptation, while identifying the necessary gaps and support.
Al -Saeed explained that the friends of the initiative are voluntarily committed to working to increase the share of green projects in their national investment plans by no less than 30 % in 2030, with tracking and monitoring public investments directed at climate work and identifying the required gaps and support, in addition to creating a “knowledge exchange platform” and “” A capacity -building center “to share best practices and experiences, and to develop tools and methodologies that support environmental efforts in green national investment plans.
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