Dr. Mahmoud Mohieldin, UN Climate Change High Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, said that the Race to Zero campaign is firmly supporting climate action, and that good coordination with the Race to Resilience campaign will contribute effectively to achieving the goals of Paris Agreement.
This came during his participation in a session about global perspectives on achieving net zero while putting an end to greenwashing, within the events of Innovation Zero Congress held in London, with the participation of Dr. Liam Fox, British MP and event chair, and Graham Stuart, British
Minister of State for Energy Security and Net Zero.
Mohieldin stated that Race to Zero has gained significant momentum since its launch three years ago to include around 11,000 members in some 130 countries, adding that the campaign drove converts towards reducing emissions in a lot of institutions, companies, cities and regions, and set governing criteria and regulations for the transition to net zero.
Mohieldin noted that the campaign set rules for securing fair and just emission reduction, explaining that work programs of HLCs and Marrakesh Partnership for this year are focusing on accountability of stakeholders through taking into account the implementation of the recommendations of the integrity report issued by the independent high level experts group under the guidance of the Secretary General António Guterres to develop ESGs and preventing greenwashing.
He explained that the drivers of climate action include mobilizing finance, utilizing technology and changing behavior, which HLCs are working with various actors to mobilize to achieve the goals of the Paris Agreement.
Mohieldin stressed the importance of encouraging all actors to progress in their positive work regarding adaptation, saving biodiversity and keeping their pledges to reduce emissions.
He added that climate champions are working also on enhancing the participation of women, youth and indigenous people in leading discussions and finding solutions for climate issues, as well as mobilizing finance from its local, external, public and private sources to bridge the gap of climate finance.
In this context, Mohieldin said that there is a focus on mobilizing finance to implement Sharm El Sheikh Adaptation Agenda and the projects resulted from the Five Regional Roundtables Initiative, adding that establishing carbon markets in developing countries such as ACMI is firmly encouraged, as well as activating debt reduction mechanisms and debt swaps for investment in nature and climate.