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19 May 2022

The Minister of Planning and Economic Development participates in the celebration of the launch of the National Climate Change Strategy 2050

Prime Minister Mostafa Madbouli launched on Thursday the 2050 national strategy for climate change at a conference that was organized by the Environment Ministry.
The strategy is considered a roadmap to reach modified Egypt’s 2030 vision to face climate change challenges.
The strategy enables Egypt to plan and manage climate change at all levels through supporting economic and developmental goals including reducing emissions.
The conference was also attended by Planning and Economic Development Minister Hala el Saeed, Environment Minister Yasmin Fouad, Foreign Minister Sameh Shoukry, Petroleum Minister Tarek el Moulla, Agriculture Minister el Sayed el Qusir, Finance Minister Mohamed Maait, Trade and Industry Minister Nivene Gameaa, International Cooperation Minister Rania el Mashat, UN Resident Coordinator in Egypt Elena Panova and representatives of parliament, industries union and the UN.During her speech, Hala El-Said, Minister of Planning and Economic Development, expressed her pride in the ministry’s participation in the consultations on preparing the national climate change strategy, reviewing the data and projects contained therein, as well as providing the working group concerned with formulating the strategy with data on the projects included in the economic and development plans.

El-Said praised the concerted efforts of all local and international development partners, under the leadership of the Ministry of Environment, to come up with this honorable national strategy, which sets an exceptional example of cooperation, in line with the participatory approach adopted by the state, to advance the national interest of.
El-Saidstressed that the state aims to launch the National Climate Change Strategy 2050; Dealing with the phenomenon of climate change from a comprehensive perspective, including reducing greenhouse gas emissions, adapting to the negative repercussions of climate change, and providing implementation mechanisms, including financing, capacity building, and technology transfer.

El-Said added that the state is making every effort to include the issues of sustainability and climate change in the various relevant national plans and strategies.

 El-Said explained that from this premise, the launch of the National Climate Change Strategy 2050 is consistent with Egypt's Vision 2030, adding that the government is working to update the vision to reflect the latest changes in the international and regional arenas, including environmental challenges.

El-Saidadded that policies aimed at supporting the transition to a green economy and maintaining the sustainable use of natural resources came at the heart of the structural reforms program.
 El-Said confirmed that the program gave priority to the agricultural, manufacturing, and information technology sectors, with a focus on the axes of women's empowerment and green recovery, as they intersect with the various priority sectors.
El-Said added that the state adopts environmental sustainability standards, which aim for green projects to represent 30% of the state's investment plan for the current fiscal year 2021/2022 and 50% of the plan for 2024/2025.

 El-Said pointed out that the Ministry of Planning, in close and continuous cooperation with the Ministry of Environment, prepared a guide to environmental sustainability standards, where the first version was launched in 2021 under the name "Strategic Framework for Green Recovery", as well as the preparation of sustainable financing standards in partnership with the Central Bank of Egypt.
El-Said also pointed out that the state has achieved a precedent in the Arab and regional arenas by launching green bonds worth $750 million, for the first time in Africa and the Middle East, in cooperation between the Ministry of Planning and Economic Development and the Ministries of Finance and Environment, complemented by the private sector initiative to launch green bonds with a value ranging between $ 120-200 million.

El-Said also pointed to the government’s success in launching the first phase of the national project for the development of the Egyptian countryside: the “Decent Life” initiative, which is considered a development initiative with a positive and comprehensive economic, social and environmental impact. This success was crowned by the inclusion of the “Decent Life” initiative among the best international practices by the United Nations.

El-Said also touched on the efforts of "Egypt's Sovereign Fund for Investment and Development" in the field of climate change by investing in many green projects, which included the hydrogen and green ammonia production project in partnership with some specialized international companies.