Amid the start of the countdown to launch COP 27 climate conference during the period from 6 to 18 November 2022 in Sharm El-Sheikh, Egypt continues its preparations to host this global event, looking for quick solutions to the challenges facing climate change around the world.

 This session is held amid enormous geopolitical challenges, imposing on the world the necessity of concerted efforts to accelerate climate work and to fulfill the special obligations to combat climate change, and to support the African continent’s countries to transform into green economy.

 In this symposium, Canada Egypt Business Council and the Egyptian Business Council for International Cooperation had the honor to host H.E. Sameh Shoukry; Minister of Foreign Affairs discussing the topic “Climate COP 27 Opportunities and Challenges” and in the presence of the Minister of Environment, H.E. Yasmine Fouad & Minister of Social Solidarity H.E. Nevine Al-Kabbaj, former ministers and governors, representatives of the Egyptian private sector, officials and ambassadors of foreign countries in Egypt.

 In his opening remarks Mr. Motaz Raslan started his speech saying that he believes that the Sharm el-Sheikh summit will be a solid step towards confronting the imbalance that afflicted nature through clear agreements and specific commitments that guarantee our future generations to live in a healthy, safe & green environment.

 He went on to explain his concern about the fate of the planet. He added that the World Meteorological Organization indicated that the global losses are estimated at about 300 to 500 trillion dollars between the years 2030 to 2050 and other statistics expect that the number of people suffering from extreme poverty will reach 300 million as a result of the negative impact of climate change, and 200 million people may be forced to migrate internally.

“It is unfortunate that 20 countries represent 80% of the volume of emissions around the world, while Africa exports only between 2 to 3% of these emissions, but it bears all the negative impact of climate change”, he explained. Mr. Raslan concluded his speech affirming that Egypt has taken important steps to confront to climate change, as it launched the National Climate Change Strategy 2050 in line with the country’s sustainable development strategy, “Egypt Vision 2030,” which aims to reduce harmful emissions and prepare the country to withstand the effects of global warming, as Egypt took the lead in issuing the first green sovereign bond in the Middle East and North Africa, worth $750 million.

Then the floor was given to H.E. Sameh Shoukry; Minister of Foreign Affairs as he stressed that the objectives of the Egyptian presidency of the Climate Conference are the implementation of climate commitments, including reducing emissions, strengthening adaptation measures and mobilizing financing for developing countries. “The success of the conference depends on the ability of the participating parties to reach an understanding and consensus on climate challenges including the private sector and the business community to support and enhance the efforts of governments in these areas, he added”.

The Minister of Foreign Affairs stressed that Egypt succeeded in hosting the conference and we are doing our best to offer the appropriate atmosphere for discussions. However, he added that huge effort must be exerted by all contributing parties if they have the will to make the conference successful and show their real ability to deal with global environmental challenges, so the positive outcomes can be realized. He also praised the remarkable development witnessed by the Egyptian-Canadian relations during the past years, at the political and economic levels, expressing his hope that the Sharm el-Sheikh COP 27 would represent a favorable opportunity to increase the volume of Canadian investments in Egypt.

He concluded his speech saying that tackling climate change requires concerted coordinated government action as well as conscious and informed efforts by all parties Growing attention to climate change and sustainable development offers a chance for green economic growth around the world, which requires reducing emissions, limiting temperature rise and fulfilling obligations, and this is the challenge we must all confront.

Then the floor was opened for questions and answers where many inquiries, questions and suggestions were discussed and many attendees praised the ongoing efforts of the Minister of Foreign Affairs.