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Environment min. urges providing finance to achieve just energy transition

Environment Minister Yasmine Fouad said achieving a just transition to new and renewable energy requires changing the culture and concepts of societies, as well as providing finance and technology.

Fouad’s comments came in a speech she delivered on Sunday during the second day of the International Energy Forum at Abu Dhabi Sustainability Week (ADSW), which runs from January 19 to January 20.

The environment minister reviewed the outcome of the UN Climate Change Conference, COP27, held in the Red Sea resort city of Sharm El Shiekh in November 2022.

She stated that the COP27 demonstrated the effectiveness of multilateralism by reaching decisions on mitigation, adaptation, and climate finance, as well as agreeing to establish a fund for losses and damage.

Fouad expounded on the initiatives launched at the COP27, including Africa Just and Affordable Energy Transition Initiative (AJAETI) calls for transferring technology, offering concessional finance, and providing access to clean energy.

Fouad also spoke about the role of women in countering climate change, for being the most vulnerable to the effects of climate change, noting they play a main part in the interrelationship between energy, water, and food.

In a related context, the environment minister took part in the high-level first session on the transition from COP27 to the 28th session of the Conference of the Parties (COP28).

The session, attended by UN climate change champion for Egypt Mahmoud Mohieldin, focused on important questions about the COP27 outcome and ways to move forward to the COP28.

Fouad emphasized the significance of COP28, which will be hosted by the UAE because it will monitor the implementation of COP27 recommendations on mitigation, adaptation, and climate finance, as well as the governance of the loss and damage fund.


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