Fatma Nashaat - Amwal Al Ghad

Dr. Rania Al-Mashat, Minister of International Cooperation, started her participation in the activities of the Davos Forum 2023, by participating in the launch of the initiative “Stimulating partnership between non-profit organizations and the government and private sectors to increase funding for climate action.”

This was during the main session, which was held with the participation of Borghi Brendi, President of the World Economic Forum, John Kerry, US Presidential Climate Envoy, Mark Carney, President of the Glasgow Financial Alliance GFANZ, Desmond Quick, CEO of Temasek Trust, businessman Bader Jaafar, and President of Crescent Enterprises. The session was moderated by Jim Huai, Executive Director of the World Economic Forum's Center for Nature and Climate.

The session discussed the role of non-profit organizations in stimulating climate action, and discussed how the government and private sectors can benefit from the resources and tools available to non-profit organizations to bridge a gap estimated at $100 trillion in order to spread fair solutions to preserve the climate and nature during the year 2050. initiative and its objectives.

In her speech, the Minister of International Cooperation stressed that climate change is a global challenge, and efforts must be unified and commitment to climate action strengthened through joint action between the relevant parties and the exploitation of all available resources to mobilize funds to achieve the green transition.

She pointed out the importance of the role of non-profit organizations and the resources available to them in stimulating climate action through partnership, whether with the private sector or the government sector, to mobilize the required investments and help in the flow of capital.

And Al-Mashat stated that during the year 2021, about 2% of the resources of non-profit organizations were directed to climate action, between $7.5-12.5 billion, to assist in efforts to mitigate the repercussions of climate change, while these organizations provided resources estimated at $810 billion.

She stressed that non-profit organizations can play a catalytic role for climate action through their available resources to finance high-risk projects, as well as technical expertise, and their openness to wide networks of actors, which motivates the private sector to play a greater role in climate financing.

The Minister of International Cooperation touched on the "Sharm El-Sheikh Guide to Fair Financing", which was issued during the COP27 climate conference, as one of the initiatives of the Egyptian presidency of the conference, which includes clear principles and recommendations regarding each of the relevant parties playing their role to stimulate climate action, and highlighting The role of non-profit organizations in this matter.

She noted that the guide stresses the need for coordination between multilateral development banks and other providers of capital, such as the private sector and charitable institutions, in order to stimulate the provision of financial resources on a large scale.

Al-Mashat pointed out the importance of the private sector and non-profit organizations providing additional sources of financing in addition to technical expertise, and cooperation with the government sector, in order to enhance the ability to withstand the repercussions of climate change and shift from pledges to implementation by mobilizing financial resources.

She also noted that these resources should be directed more towards underfunded climate change adaptation efforts.

The Minister of International Cooperation stated that, in light of the Egyptian presidency of the COP27 Climate Conference, non-profit organizations have captured a large part of the discussions and events among the international community to discuss their role in advancing climate action, and the ongoing global dialogue on structuring international financing institutions includes these organizations as an actor. Major in mobilizing the necessary resources and investments to advance development efforts and climate action.

She pointed out that the national platform for green projects, the “Novi” program, which was launched by Egypt in mid-2022, and letters of intent and related agreements were signed during the climate conference, is working to mobilize various financing mechanisms through development partners, the private sector, as well as non-profit organizations to stimulate the ambition of climate action in Egypt.

She pointed out that the current year, in light of Egypt's presidency of the COP27 Climate Conference, will witness many developments regarding the implementation of the recommendations of the "Sharm El-Sheikh Guide to Fair Financing" related to encouraging the role of non-profit organizations in climate financing, in addition to strengthening cooperation with these organizations to finance Novi projects.

The session witnessed praises by the attendees of Egypt's hosting and presidency of the COP27 climate conference, and the importance of what came in this conference as a step towards moving from financial pledges to implementation.

John Kerry, the US presidential climate envoy, hailed the launch of the Novi program as a model for developing countries and emerging economies to mobilize climate finance along the lines of JETP platforms.

In a related context, Mark Carney, President of the Glasgow Financial Alliance GFANZ, referred to the joint work with the Ministry of International Cooperation to launch the Sharm El-Sheikh Guide to Fair Finance.

Following the discussion session, a global press conference was held to announce the initiative, with the participation of Dr. Rania Al-Mashat, Minister of International Cooperation, Jim Huai Niu, Executive Director of the Forum's Nature and Climate Center, Andrew Steer, President of the Bezos Earth Fund, and Tracy Francis, from McKinsey & Company. , along with representatives of HSL Technologies and Temasek Trust.

The initiative aims to create constructive partnerships between non-profit organizations and the government and private sectors, in order to mobilize funds and investments to confront climate change and encourage green transformation, increase available resources and additional financing to implement the climate action agenda worldwide, and support international efforts aimed at bridging the climate financing gap. Preliminary discussion during a high-level session within the activities of the Climate Conference in Sharm El-Sheikh.

During the press conference, Dr. Rania Al-Mashat, Minister of International Cooperation, thanked the World Economic Forum for launching this initiative, noting that the implementation of the goals of the COP27 climate conference by moving from climate pledges to implementation requires the implementation of financial commitments and the mobilization of resources from developed countries and the private sector, as well as organizations Non-profit.

The Minister of International Cooperation stated that this initiative is based on the calls of the Egyptian presidency during the COP27 climate conference in Sharm El-Sheikh, which stressed the importance of the need for the role of non-profit organizations to expand the scope of climate financing and launch private investments to stimulate the transition to a green economy.

She explained that Egypt will work with the World Economic Forum to build effective and impactful partnerships between the government and private sectors and non-profit organizations.

Al-Mashat pointed out the vital role that these institutions can play in supporting climate action in different countries, and that partnerships between them and governments and the private sector can unleash the available capabilities and resources, whether on the technical or financial side, to support the climate action agenda.

She stated that the 2% of the resources of non-profit organizations that are directed to climate action must be increased to meet the climate ambitions of different countries, especially emerging and developing countries.

And she continued: Climate and development cannot be separated, and climate standards and environmental practices must be integrated into all development projects. .

It is worth noting that over the past year, the Ministry of International Cooperation intensified its discussions with non-profit organizations in the various international events and forums that were held, as well as during the COP27 climate conference, in order to discuss mechanisms and ways of cooperation with these institutions to advance development efforts and climate action in Egypt. Among the meetings were the Bezos Earth Fund launched by billionaire Jeff Bezos, as well as the Rockefeller Foundation, and other international non-profit organizations.

Yesterday, the activities of the “Davos 2023” forum, which is being held by the World Economic Forum in Switzerland, launched under the title “Cooperation in a Divided World”, with the participation of many leaders of countries, heads of government, ministers, and major private sector companies, as it is scheduled to be held throughout the days of the conference during From January 16-20, a number of bilateral meetings will be held with representatives of multilateral and bilateral development partners, private sector companies, and non-profit organizations. It will also participate in many activities and discussion sessions in light of the consolidation of economic relations between Egypt and regional and international institutions.