Sharm El-Sheikh, Egypt, 10 November 2022 –

 The “Sharm El-Sheikh Guidebook for Just Financing” was launched during a panel discussion that took place during COP27’s Finance Day.  The Guidebook aims to translate commitments into implementable projects, while capturing opportunities to leverage and catalyze needed finance and investments to support climate action.

The Ministry of International Cooperation and the Tony Blair Institute for Global Change collaborated on the “Sharm El-Sheikh Guidebook for Just Financing.” The guidebook aims to move efforts on finance beyond pledges into fostering inclusive partnerships towards a climate-resilient future.

The Panel discussion was moderated by HE Egypt Minister of International Cooperation Dr. Rania Al-Mashat and included the following speakers:

 Dr. Akinwumi Adesina, President, African Development Bank (AfDB)

 Sir Tony Blair, Executive Chairman, Tony Blair Institute for Global Change

 Mr. Ambroise Fayolle, Vice-President, European Investment Bank (EIB)

 Dr. Axel Van Trotsenburg, Managing Director of Operations, World Bank Group

 Dr. Khalida Bouzar, Assistant Secretary-General and Director of the United Nations

 Development Programme Regional Bureau for Arab State

 Mr. Emmanuel Nyirinkindi, Vice- President of Cross-Cutting solutions, IFC

 Mr. James Zhan, Director of Investment and Enterprise, UNCTAD

 Mr. Jay Collins, Vice Chairman of Banking, Capital Markets and Advisory, Citi

The Guidebook defines “Just Financing”, as financing that accounts for historical responsibility for climate change while ensuring equitable access to quality and quantity climate financing that supports resilient development pathways leaving no one behind. It sets forth 12 core principles, that serve as a framework to guide stakeholders to adopt innovative climate finance modalities and instruments.  These will enable unlocking of needed financing from public and private capital providers to scale up and drive the transition required to address climate adaptation and mitigation goals.

The initiative reduces the risk and uncertainty associated with climate investments in developing countries by addressing the information gap for both national governments and investors. It also identifies key barriers to private investments and proposes solutions to overcome them. More importantly, the Guidebook maps climate capital providers based on their: access criteria, risk appetite, regional and sectoral focus, ticket size and financing instruments to address the limited access of developing countries to climate funds. It also proposes a set of innovative financing models that can leverage the unique capabilities and interests of different pools of capital to finance impactful climate projects.  It was highlighted that even in many of the most challenging geographies and sectors successful projects that can be replicated and upscaled.

The COP27 Presidency said: “The Sharm El-Sheikh Guidebook for Just Financing concludes with an actionable agenda for each stakeholder that lists the roles they could play to achieve just financing outcomes. It presents a realistic and implementable blueprint aimed at maximizing the effectiveness and efficiency of the existing climate finance system in the short run, while rethinking the international architecture in the medium and long-term.”

The second segment of the panel included interventions from the following experts:

Mr. Bo Li, Deputy Managing Director, IMF

Dr. Mark Carney, UN Special Envoy for Climate Action and Finance, Glasgow Financial Alliance for Net Zero (GFANZ) / Brookfield Asset Management

Mr. Rémy Rioux, Chief Executive Officer, AFD

Mr. Mark Bowman, Vice President for Policy and Partnerships, EBRD

Ms. Elizabeth Yee, Executive Vice President of Programs, Rockefeller Foundation

Ms. Damilola Ogunbiyi, CEO, SEforALL

The Guidebook was conceptualized in September 2021 during the first edition of Egypt – International Cooperation Forum (Egypt – ICF) where developing and emerging economies underscored the dual challenge of climate change to their right to development. It also emphasized the pivotal role of the private sector in unlocking technical and financial resources at scale. The idea was further enhanced during COP26 in Glasgow with the enthusiasm around Egypt’s proposal for creating an international framework for Just Financing.

Who's Online

We have 167 guests and no members online

News Most Viewed

  • Ordering
  • Title
  • Most Popular

The release of Brittany ...

In a speech on the occasion of the ...

Chinese President Xi ...

At the invitation of the custodian ...

The director of the ...

Considering it as a threat to US ...

Spanish authorities ...

The Spanish Interior Ministry said ...

France: all European ...

While accompanying French ...

Canada.. A new strategy ...

In a 26-page strategy document, ...

A Chinese city ...

  Chinese city authorities ...

An expert assesses ...

Academician Gennady Onishchenko, ...

Belarus begins the ...

Today, Tuesday, Belarus began the ...

Biologist: ...

 Professor Ancha Paranova of the ...

Britain: We had to ...

 British Health Minister Matt ...

China suspends air ...

Today, Sunday, the Chinese ...

City uprising lead ...

Manchester City came from behind ...

Global health. The ...

A leading official of the World ...

Observers draw three ...

Following Tuesday's waving ...

Time to think

  Writer : Michael Blair Time is ...

Mikhail Lomonosov; The ...

By|Abeer Almadawy    Mikhail ...

Dedications,short story ...

Dedications by Luis Jorge Boone ...

The Last Circle

Why should we return to
By the novelist ...
Let’s revive our
written by Abeer ...
The last century was the
By Editor-in-Chief Dr. ...
The African Paradise
Written by|Abeer ...
Makers of Wars & The mix
Written By|Abeer ...
Trump wins and William
Lines in the reading of ...
Mosul in between the joy
Written by| Abeer ...
Geisha and the
Written by /Abeer ...

Video Castle Journal

الدائرة الأخيرة  

الدائرة الأخيرة مع الدكتور عاصم الليثى

 الدائرة الأخيرة مع اللواء نبيل أبو النجا

 كلمة د/عبير المعداوى فى عيد الشرطة

Locations

  • #104. Street 6, Fifth District, 6 October, Giza
  • This email address is being protected from spambots. You need JavaScript enabled to view it.
  • 01004734646

Castle Journal Group