Africa is the one that contributes the least to global warming, but is the most eager to invest in clean energy: Mohieldin – Climate change – COP27
During a webinar organized by the United Nations University (UNU) under the title “World Energy: Looking Ahead to COP27”, Mohieldin said that energy projects in Africa – where 600 million people lack energy – have need sufficient funding.
In addition, global warming is preventing African countries from achieving the UN Sustainable Development Goals (SDGs), especially in the areas of poverty, health, climate and economic growth.
There is therefore a need, he added, to involve developing countries – especially in Africa – in energy transition negotiations.
“While some countries are going back to using polluting energy sources such as fossil fuels, African countries are focusing on using renewable energy,” Mohieldin said, referring to one of the largest solar power plants in the world. world in Egypt and green hydrogen projects in Egypt. , Namibia, Mauritania, Morocco, Algeria, Kenya and South Africa.
He stressed that financing climate action and energy transition in developing countries in a way that ensures the achievement of all UN SDGs requires developed countries to honor their commitments. More importantly, the $100 billion a year promised at the Copenhagen conference, a commitment that has only been honored by seven out of 23 countries.
Thirteen years ago, at COP15 in Copenhagen, advanced economies pledged $100 billion to help developing economies meet their climate action targets. The pledge was endorsed by the 2015 Paris Agreement and implemented a year later with the aim of reducing global warming by 1.5 degrees Celsius.
The climate champion said climate projects in Africa are compatible with the Paris agreement in terms of implementing mitigation and adaptation measures. However, they need technical know-how and financial support from developed countries. He stressed that Africa is ready to become the starting point for a global just transition in the energy sector.
Mohieldin also participated in a session, held virtually, under the title “COP27: Turning promises into plans”. He was joined by Dmitry Mariyasin, Deputy Executive Secretary of the United Nations Economic Commission for Europe, and Esther Wandel, Head of the Investment Funds and Sustainable Finance Division at the German Federal Ministry of Finance.
During his speech, Mohieldin reaffirmed the importance of taking a holistic approach to climate action in line with the Paris Agreement. Such an approach, he stressed, would help developing countries make progress in the areas of mitigation, adaptation, loss and damage management and climate finance.
He also spoke about the importance of scaling up climate action for the nexus between water, food and energy.
Mohieldin also stressed the importance of increasing efforts to combat rising rates of desertification and drought, and the negative impact of these phenomena on livelihoods.
He stressed the importance of increasing private sector participation in climate action and mobilizing more investment, pointing out that more than 60% of climate action financing is obtained by incurring debt.