Shoukry calls for finding mechanisms to address climate change challenges
Foreign Minister Sameh Shoukry said it is necessary to take the initiative to find necessary mechanisms, strengthen governance, and seek financial support to address climate change challenges prior to the upcoming UN Climate Change Conference (COP28), to be held in the UAE in late 2023.
This means that all those who are able to do so will contribute, Shoukry added in an interview with CNN channel, noting that most of these commitments are voluntary.
Each party can evaluate their capabilities in this regard, he said.
Shoukry expressed hope that this will happen in response to a question about the capabilities of intensive investment in the decarbonization of energy resource options and the limits of the private sector’s relevant participation.
He added that the private sector is greatly interested in renewable energy resources.
Foreign Minister Sameh Shoukry said technology stimulates the private sector to be more involved in specific projects, such as those in wind energy or solar power.
In this regard, Shoukry referred to Egypt’s green hydrogen initiative, which was launched in collaboration with Belgium. He went on to say that Egypt aspires to be a green hydrogen hub.
Commenting on developments in Egypt’s economic situation and its local currency, the foreign minister emphasized that the COVID-19 crisis and the Russia-Ukraine crisis affected “the entire international community,” not just Egypt.
Shoukry added that Egypt launched an economic reform program in 2016 with the help of the International Monetary Fund, which praised the country for its implementation of the program.
He also emphasized that the Egyptian State is striving to attract further investments.