Mashat, Michael Bloomberg Discuss Egypt's Efforts to Advance Climate Action

Rania Al-Mashat, Minister of International Cooperation met with Michael Bloomberg, President and Founder of the Bloomberg Group for News, Media and Financial Services to promote environmental and renewable energy at the local level.

This comes within the framework of its successive meetings within the activities of the Bloomberg New Economy Forum, which was be held in Singapore from 16-19 November.

The Minister of International Cooperation discussed the reforms implemented by the Egyptian state in various fields, which strengthened its economic transformation to become one of the most prominent emerging countries in the region and the world, and promoted comprehensive economic growth, and its quest to achieve the goals of sustainable development 2030, stressing that the economic and structural reforms implemented by the state allowed more Of investment opportunities in the areas of sustainable infrastructure and green transformation for international financial institutions and the private sector.

Al-Mashat pointed to Egypt's success in obtaining the honor of hosting the United Nations Climate Conference COP27, next year, which enhances its leadership and ambitious plans for green transformation, and supports regional efforts to adapt to and mitigate the repercussions of climate change, implement environmentally friendly projects, and push joint action with partners. Development and multilateral banks to implement climate finance strategies and activate innovative and mixed financing tools in Egypt, as well as stimulate private sector participation in the implementation of these projects.

On his part, Michael Bloomberg stressed the importance of strengthening the work of governments worldwide, in partnership with the private sector, to support green transformation and climate investments to advance sustainable development goals, in addition to the role that global companies can play to support investments in emerging markets to promote climate action.

The meeting was also attended by and the United Nations Secretary-General’s Envoy for Cities and Climate Change, and Chairman of the Board of Directors of the C40 Group.