Mohieldin Discusses Singapore's Support for Egypt, Africa in Climate Finance, Carbon Markets

Dr. Mahmoud Mohieldin , UN Climate Change High Level Champion for Egypt, visited Singapore where he met a number of governmental non-governmental officials; the Egyptian Ambassador to Singapore "Mahmoud Al-Maghraby" and Advisor "Yara Al-Badawi" took part in the event.

These meetings, organized by the Embassy of the Arab Republic of Egypt in Singapore, dealt with the ongoing preparations for COP27 due to be held in Sharm El-Sheikh, and the substantive issues that are expected to be, as well as ways to strengthen cooperation with the Singaporean government.

The discussions also tackled means of cooperation with the business sector, and financial sector to support climate action in Egypt and Africa. Dr Mohieldin, for his part, highlighted COP27 priorities.

During his visit, Dr Mohieldin met Mr Teo Chee Hean, Senior Minister and Coordinating Minister for National Security in Singapore and Chairman of Inter-ministerial Committee on Climate Change in Singapore. He also met Mr Tharman Shanmugaratnam, Senior Minister andCoordinating Minister for Social Policies.

Both meetings touched on how Singapore can support Egypt and Africa, especially in climate finance and carbon markets. The ministers also highlighted Singapore is looking forward to working with Egypt.

Dr Mohieldin’s agenda also included a meeting with Mr Boon Chye Loh (CEO of Singapore Exchange (SGX Group)).The meeting discussed the role of finance in supporting climate mitigation and adaption, including topics as carbon markets and possible cooperation with Singapore to develop carbon markets in Egypt and Africa.

Dr Mohieldin also met Ravi Menon , the Managing Director of the Monetary Authority of Singapore (MAS) and Chair of the Advisory Board of the Asia-Pacific network of the Glasgow Financial Alliance for Net Zero (GFANZ). Both sides discussed the financial aspects of climate change, while focusing on capacity development and streamlining efforts to support transition finance.

During his visit, Dr Mohieldin also participated in the Round table hosted by Tamasek, the Sovereign Wealth Fund of Singapore. This round table included Ms Franziska Zimmerman, Director of Sustainabiliry and Climate Change Strategy and Director for ESG Investment Management at Temasek along with Dr. Steve Howard, Chief Sustainability Officer at Temasek . The roundtable was also attended by other members from the team working on sustainability and climate at Temasek.Temasek presented to Dr. Mahmoud their strategy on sustainability.

Dr Mohieldin’s agenda in Singapore also included a meeting with H.E. Kara Owen, the British High Commissioner to Singapore.