Cairo – Africa is a victim of climate change but also a major source of solution to the problem. So said the United Nations (UN) special envoy on Sustainable Development and executive director of the International Monetary Fund (IMF), Mahmoud Mohieldin (pictured above), in a conference held in Egypt earlier this week by the Egyptian Center for Economic Studies. The main topic of the event was the UN Climate Change Conference 2022, COP27, to take place in the Arab country in November.
Mohieldin is the High-Level Climate Champion of Egypt, appointed to welcome the COP to spread the topic of the environment. Mohieldin described the situation the world is going through as the most miserable since the World War II, with conditions of uncertainty gripping the world and no movement towards global cooperation in trade and investment. According to him, the crisis ushered in by the coronavirus brought to light and fast-tracked some changes that go all the way back to the global financial crisis of 2008. He said that the climate change, even amid crises, though, brings opportunities for cooperation and coexistence, too.
Mohiledin stressed that Africa, despite not being greatly responsible for the climate change, is the most affected continent. He described the region as a victim of this situation as it is responsible for only 3% of the emissions of the planet, while Russia accounts for 45%, India 8%, the United States 16%, and China 40%, according to him. The economist said that the next COP should give adequate room for Africa, not only regarding the problem of adaptation to climate change and financing but also as part of the global solution. According to him, the region has all the natural resources to help solve the crisis and provide clean energy, digital transformation and the 4th Industrial Revolution.
The economist pointed out that Egypt and five African countries signed an alliance to produce green hydrogen. According to him, the African continent is seeing large investments in clean and renewable energies. He mentioned one of the world’s largest solar energy projects in Benban, Aswan, Egypt. Mohieldin said he wants to see Egypt with a carbon credit market established as its is a leader in the Middle East and North Africa.
What to expect from COP27
Egypt’s Environment minister Yasmine Fouad said that several regions in Africa have seen over the last ten years storms, droughts and floods fifteen times worse than before the year of 2010. She said that climate change is a global challenge and that the COP27 will see the implementation of what was agreed upon in the last conference, particularly a global goal to adapt to the new situation. According to the minister, the agreement must be coupled with financing that compensates the most fragile and vulnerable countries and doubling the financing via international funds, particularly in the African continent, which struggles in the sector.
The minister emphasized the need to respond to several questions in the next COP like what are the mechanisms to provide the financing of USD 100 billion approved by the Copenhagen Conference to facilitate the green transition and how to make a fair transition in the energy sector and cut industrial and oil emissions. She also expects that some global initiatives and solutions for agriculture and food will be presented.
Translated by Guilherme Miranda
