Ministers Discuss USD 100 Billion Climate Finance Goal

The Presidency convened the fifth HighLevel Ministerial Dialogue on Long-Term Climate Finance on the progress and fulfillment of the goal of mobilizing jointly USD 100 billion per year by 2020, in the context of meaningful mitigation action and transparency on implementation.

This round-table dialogue follows previous dialogues at COP20, COP22, COP24, and COP26. The HLMD will be informed by the fifth Biennial Assessment and Overview of Climate Finance Flow and the report on progress towards achieving the goal of mobilizing jointly USD 100 billion per year by the Standing Committee on Finance.

COP27 President Calls for Efforts to Mitigate Climate Change Impact

Minister of Foreign Affairs and President of COP27, Sameh Shoukry, participated on Monday in the ministerial roundtable on mitigating the effects of climate change before 2030, with the participation of Simon Steel, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), and delegations of UNFCCC member states. In this regard, Shoukry highlighted the importance of mitigating the effects of climate change, in light of the international scientific reports indicating the need to move quickly in this regard to maintain global temperatures at safe rates. In this regard, he noted the content of the IPCC report on greenhouse gas emissions, which highlights the importance of sending a message through COP27 that reflects the political will of Parties to strengthen their efforts to mitigate the effects of climate change by increasing their efforts to reduce emissions and providing clear guarantees in this regard, in a manner that contributes to the fulfillment of the provisions of the Paris Agreement.