Egypt’s Minister of Environment Yasmine Fouad and Minister of International Cooperation Rania Al-Mashat launched on Tuesday the Country Climate and Development Report (CCDR), which is the second expanded technical release after its launch for the first time at COP27.
This came on Monday evening in the presence of Stefan G. Koeberly, the Director of Strategy and Operations (MNA) at the World Bank, and Meskerem Burhan, the Regional Director for the Middle East and North Africa for Sustainable Development Groups at the World Bank, Gareth Bailey, the British Ambassador to Cairo, a number of World Bank representatives, and a group of environmental action leaders in Egypt.
Fouad expressed her happiness at launching the country report for climate and development for the second time, as it was launched for the first time at COP27, indicating that the preparation of the CCDR is a long journey that took place with national efforts, starting with the preparation of the National Climate Change Strategy 2050, the updated National Contributions Plan 2030, and the Energy, Food and Water Nexus Project.
She noted that the preparation of the CCDR comes at the heart of these efforts, and focuses on the citizen, the investment was in human resources, awareness-raising, capacity-building, and the momentum achieved in the climate file among all groups, whether young people, university students and local communities.
“We must take the opportunity to launch the CCDR to highlight the needs and demands for the climate file, in light of the global economic conditions, and pay attention to the indicators set by the report, including the reference to $208bn in promising investments for the private sector in the field of climate change, in waste management, water and energy efficiency sectors in buildings and urban planning,” Fouad said.
The minister stressed her ministry’s endeavor to transform this indicator into investment opportunities, within the framework of launching the first environmental and climate investment unit in the Ministry of Environment, focusing on showing promising opportunities for the private sector and entrepreneurs in the environmental sector.
She also pointed out that the added value of the CCDR is to provide guidance and direction towards the sectors in which quick steps can be taken, stressing that Egypt will work with partners to transform the report into actual measures on the ground.