{"id":555606,"date":"2021-11-21T03:46:32","date_gmt":"2021-11-21T03:46:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/21\/whats-on-the-agenda-for-cop27-pressure-for-the-rest-of-the-world-to-help-em-meet-climate-commitments\/"},"modified":"2021-11-21T03:46:32","modified_gmt":"2021-11-21T03:46:32","slug":"whats-on-the-agenda-for-cop27-pressure-for-the-rest-of-the-world-to-help-em-meet-climate-commitments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/21\/whats-on-the-agenda-for-cop27-pressure-for-the-rest-of-the-world-to-help-em-meet-climate-commitments\/","title":{"rendered":"What\u2019s on the agenda for COP27? Pressure for the rest of the world to help EM meet climate commitments."},"content":{"rendered":"

Securing and de-risking financing to help emerging markets <\/strong>meet climate commitments will be a central focus at Egypt-hosted COP27<\/strong>, International Cooperation Minister Rania Al Mashat told Bloomberg (watch, runtime: 5:38<\/a>). In an interview on the sidelines of the Bloomberg New Economy Forum, Al Mashat stressed that expectations placed on EMs need to be adjusted for their contribution to emissions and their ability to lock down the financing they need to meet climate goals. Despite Africa only being responsible for 4% of global carbon emissions, \u201cthere\u2019s so much that is put on [these] markets to deliver on global climate action commitments,\u201d she said.<\/p>\n

Part of the difficulty lies getting the private sector to develop green projects in countries with a credit rating below B<\/strong>, which is the majority of African countries, the minister said. For these commitments to be realized and to attract the private sector to work on these green projects, innovative means of financing are needed, such as concessional lending.<\/p>\n

The potential to ramp up green projects is there \u2014 but the resources are often lacking:<\/strong> Several countries across the continent are held back from their ability to roll out green projects because, although they provide jobs, these projects also require upskilling and capacity building, which requires more resources. \u201cThe idea is how in these 12 months [leading up to COP27] will we be able to bring in the concessional lending so that the de-risking takes place,\u201d Al Mashat said.<\/p>\n

Standardized ESG metrics coming?<\/strong> Al Mashat pointed to the lack of standardized metrics for economic, social, and governance (ESG) metrics for the private sector to follow, despite ESG being a buzzword for investors. These metrics need to \u201ccome into place so that they see that doing projects in Africa is similar to other places,\u201d she said.<\/p>\n

The government has scrapped its reliance on coal for electricity generation<\/strong>, Al Mashat also noted. Egypt plans to grow renewable energy capacity to 42% of its energy mix by 2030, Oil Minister Tarek El Molla previously said<\/a>.<\/p>\n

ALSO FROM THE FORUM- Al Mashat sat down with former UK Prime Minister Tony Blair<\/strong>, who now runs the Institute for Global Change NGO, cabinet said<\/a>. The two discussed enhancing cooperation on sustainability issues, and supporting Africa\u2019s self-sufficiency through the institute\u2019s programs. She also met Ian Bremmer<\/a>, founder and CEO of risk consultancy Eurasia Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

Securing and de-risking financing to help emerging markets meet climate commitments will be a central focus at Egypt-hosted COP27, International Cooperation Minister Rania Al Mashat told Bloomberg (watch, runtime: 5:38). In an interview on the sidelines of the Bloomberg New Economy Forum, Al Mashat stressed that expectations placed on EMs need to be adjusted for […]<\/p>\n","protected":false},"author":1,"featured_media":555607,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[147,393,228,104,72,443,223],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-climate-change","tag-cop26","tag-cop27","tag-economy","tag-enterpriseam","tag-international-cooperation-ministry","tag-rania-al-mashat","wpautop","entry"],"acf":{"mongo_id":"4830c05b-7cf2-4399-9d96-0febc067bbe3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/525.jpg","photo_position":"above","related_issue":[555590],"teaser":"","voice_url":""},"yoast_head":"\nWhat\u2019s on the agenda for COP27? Pressure for the rest of the world to help EM meet climate commitments. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/21\/whats-on-the-agenda-for-cop27-pressure-for-the-rest-of-the-world-to-help-em-meet-climate-commitments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What\u2019s on the agenda for COP27? Pressure for the rest of the world to help EM meet climate commitments.\" \/>\n<meta property=\"og:description\" content=\"Securing and de-risking financing to help emerging markets meet climate commitments will be a central focus at Egypt-hosted COP27, International Cooperation Minister Rania Al Mashat told Bloomberg (watch, runtime: 5:38). 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He reiterated Shoukry\u2019s pledge earlier\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":589924,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/eib-earmarks-eur-4-bn-for-local-development-projects-including-nwfe-al-mashat\/","url_meta":{"origin":555606,"position":2},"title":"EIB earmarks EUR 4 bn for local development projects including NWFE -Al Mashat","author":"enterpriseam admin","date":"11 July 2023","format":false,"excerpt":"Central Bank Governor Hassan Abdalla praised the EIB\u2019s \u201cinvaluable\u201d support","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/391.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547898,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/","url_meta":{"origin":555606,"position":3},"title":"Israel to investigate historic mass grave of Egyptian soldiers in Jerusalem","author":"enterpriseam admin","date":"18 July 2022","format":false,"excerpt":"Israel will investigate media reports of an unmarked mass grave in Jerusalem believed to contain the remains of Egyptian soldiers killed in the 1967 war, Israeli Prime Minister Yair Lapid told President Abdel Fattah El Sisi in a phone call, according to a statement from Ittihadiya. Israeli media Haaretzand Yedioth\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545481,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/31\/cheaper-financing-is-the-key-to-closing-the-global-gap-in-renewable-energy-production\/","url_meta":{"origin":555606,"position":4},"title":"Cheaper financing is the key to closing the global gap in renewable energy production","author":"enterpriseam admin","date":"31 March 2022","format":false,"excerpt":"We have an inequality issue with global renewable energy generation. Cheap financing might help fix it. Renewable energy production is unevenly distributed around the world. Places like the US, China, Japan, Germany and the UK are home to about two thirds of the globe\u2019s solar panels and wind turbines despite\u2026","rel":"","context":"In "Climate"","block_context":{"text":"Climate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/climate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/772.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555411,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/14\/as-cop26-winds-down-were-officially-named-as-next-years-climate-summit-hosts\/","url_meta":{"origin":555606,"position":5},"title":"As COP26 winds down, we\u2019re officially named as next year\u2019s climate summit hosts","author":"enterpriseam admin","date":"14 November 2021","format":false,"excerpt":"Egypt has officially been selected as host of the COP27 climate summit, which will be held in Sharm El Sheikh in November 2022, according to a statement from the Environment Ministry. The decision was announced at the COP26 climate summit in Glasgow, which concluded yesterday. We had first gotten wind\u2026","rel":"","context":"In "Climate"","block_context":{"text":"Climate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/climate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/434.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555606"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555606\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555607"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555606"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555606"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}