Egypt’s Minister of Environment Yasmine Fouad has participated in the virtual session on climate action at the Arab Forum for Sustainable Development.
The meeting is being held under the theme “Accelerating Action Toward the 2030 Agenda after COVID-19”.
It has been organised by the Economic and Social Commission for Western Asia (ESCWA) of the United Nations (UN).
In her speech before the session, Fouad said that the idea of integrating development policies between state sectors to serve the issue of climate change is a complex idea that needs much study.
She noted that Egypt has long been working on specific sectors, such as energy, because it is one of the development sectors affecting climate change. There was also a need to determine priorities, think strategically, and work in parallel tracks on all sectors.
The Minister noted that Egypt has taken serious political steps to address climate change, as the cabinet has approved the environmental sustainability standards. These will contribute to spreading the culture of sustainability, and will work to expand the integration of environmental dimensions into the planning system.
This step aims at reaching an integrated planning system that serves the efforts towards transformation in the Egyptian economy to the green economy, which is the basis for achieving sustainable development.
“Within the framework of Egypt’s Vision 2030, it is expected that 50% of the projects will become green after 3 years,” she said.
Fouad added that the Ministry of Finance has taken an important step along the path of sustainable development, by issuing the first green bonds in the Middle East and North Africa (MENA) region, with a value of $750m. The amount will be used to finance environmentally friendly green projects.