H.E. Dr. Rania A. Al-Mashat
“Climate action experienced increased momentum over the past few years. Yet, this trajectory has been interrupted by the compounded crises since 2020; heightening the cost of the climate agenda and calling for more integrated and inclusive collaboration by all stakeholders.
To achieve measurable change, we need to multiply our financial resources and achieve distributional justice across regions, and across sectors. We carry a prominent obligation to acknowledge and mend the existent disparities in the climate finance landscape.
Within this context, the Sharm El-Sheikh Guidebook for Just Financing brings the idea of ‘Justice’ to climate finance to move from pledges to implementation. It emphasizes the need to scale-up investments towards climate adaptation and mitigation projects, while highlighting the importance of improved access to quality and quantity climate financing that leaves no one behind through a variety of mechanisms and tools to promote just financing.
As a practical demonstration of the principles of the Guidebook, we launched Egypt Country Platform for the Nexus of Water Food and Energy (NWFE) Program, which is a country-led platform coordinated by Egypt’s ministry of international cooperation. It presents high priority national adaptation and mitigation projects and aims to catalyze and crowd in private investments through a variety of instruments, including blended finance.”