Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Madbouly highlights Egypt's progress in renewables sector at COP29
Published in Daily News Egypt on 12 - 11 - 2024

Prime Minister Mostafa Madbouly has participated in the high-level segment of the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) in Baku, Azerbaijan, on behalf of President Abdel Fattah Al-Sisi.

During his participation, Madbouly attended a roundtable entitled "Energy: Enhancing Climate Change Mitigation Measures," where he intervened in this session in the presence of the Prime Ministers of Belgium and Slovakia, the Managing Director of the International Monetary Fund, and the US Climate Envoy.

Madbouly said that Egypt has done its utmost to provide the appropriate environment to implement our ambitious renewable energy goal, which is to reach 42% of the renewable energy mix by 2030.

He continued: "We started by issuing a distinctive feed-in tariff for electricity, through which we were able to attract a lot of private investments. We also implemented a huge program to reform subsidies in order to increase the competitiveness of renewable energy." Then, we transitioned to a bidding system for various projects to further encourage private investments in renewable energy.

He added: However, our limited support has prevented us from making network improvements and other needs. Therefore, achieving our current target for nationally determined contributions is at risk.

Regarding his expectations from COP29 and how its outcomes can help developing countries implement the mitigation elements of the global stocktake process and nationally determined contributions, Madbouly said: We believe that without the required support for developing countries to implement nationally determined contributions, these goals will remain on paper and not be achieved.

He continued: We face enormous difficulties in achieving our current conditional, nationally determined contribution, as we have not received the required support to implement it. He added: Increasing ambition in considering the new climate change mitigation elements of the first global climate stocktake process while taking into account our national circumstances, paths, and approaches depends on achieving the current nationally determined contributions.

On the sidelines of COP29, Madbouly met with several heads of state, governments, and international institutions, including Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates; Sabah Khaled Al-Hamad Al-Mubarak Al-Sabah, Crown Prince of Kuwait; Recep Tayyip Erdogan, President of the Republic of Turkey; Shehbaz Sharif, Prime Minister of Pakistan; Abdel Fattah Al-Burhan, Chairman of the Sudanese Sovereignty Council; and Kristalina Georgieva, Managing Director of the International Monetary Fund.

Mohamed Al-Homsany, the official spokesperson for the Cabinet, said that these meetings witnessed discussions on ways of cooperation in several files, including files related to combating climate change and the green transformation, and the depth of political and economic relations between Egypt and the countries participating in the summit was emphasized.

The meetings discussed the significance of the United Nations Framework Convention on Climate Change Summit as a crucial chance to strengthen cooperation mechanisms among various nations, with the aim of achieving sustainability and identifying the responsibilities of the conflicting parties in addressing climate change issues.


Clic here to read the story from its source.