Egypt on Thursday announced its National Climate Strategy 2050, saying the environmental blueprint included plans to reduce emissions as a means to realising economic and development goals.
The strategy comes before Cop27, the global conference on climate change scheduled to be held in Egypt’s Red Sea resort of Sharm El Sheikh in November.
Prime Minister Mostafa Madbouly said Egypt has made a “political commitment” to deal with climate change.
He said it started with the restructuring in 2019 of a national council on climate change chaired by him and comprising representatives of relevant state institutions and civil society groups.
Under the strategy, Egypt plans to spend $211 billion by 2050 on mitigation measures and another $113bn on climate adaptation over the same period, according to local media reports.
Listing measures taken so far by authorities on climate change, Mr Madbouly said Egypt was working to increase its reliance on renewable energy, expanding solar and wind projects.
“Egypt is looking to a future when it can be a regional (export) hub for clean energy,” he said.
The most populous Arab nation, with 103 million people, Egypt is working to encourage investment in green energy projects. It is also accelerating the energy transition process in the region by investing in renewables and other forms of clean energy such as hydrogen.
The country aims to increase renewable energy sources to 42 per cent by 2035.
On Monday, Mr Madbouly told Egyptian and American officials and businessmen that Egypt was seeking partnerships with the US private sector to boost green investments.
Egypt, he said, was “exploring new horizons for green projects” and expected the GreenTech mission — a high-level delegation of US government and company representatives exploring climate-friendly business opportunities — to play an important role.
He cited Egypt’s engagement in sustainable transport projects like Cairo’s underground metro, which is currently undergoing its latest expansion, and its under-construction monorail.
It was also seeking to improve energy efficiency in industry and utilising treated sewage water in planted forests, he said.
“Egypt encourages environment and climate-friendly investments,” the prime minister said. “Perhaps the most important government initiative in this field is the recent and inaugural issue of green bonds worth $750 million.”