COP28 Joint Leadership of Climate Finance and Implementation Mechanisms

Dr Yasmin Fouad, Minister of Environment of Egypt, and Mr, Steven Guilbeault, Minister of Environment and Climate Change of Canada, held a video conference meeting to discuss the latest developments of their joint leadership in facilitating negotiations on climate finance and implementation mechanisms for the COP28 climate conference. The two ministers also discussed the results of consultations held by their teams with various parties to identify urgent issues of climate finance requirements and implementation mechanisms. Dr Fouad expressed her aspiration to complete the fruitful cooperation with the Canadian Minister of Environment to accomplish the task assigned to them by conducting the negotiations on climate finance and implementation mechanisms for the COP28 climate conference.

She also stressed the need to agree on a number of key questions that are being asked to minister and parties participating in the ministerial consultative workshop on climate finance negotiations and implementation mechanisms, to allow them the opportunity to freely express their visions and concerns at various levels, especially on the topics of climate finance, technology transfer, options available for Article 2,1, and implementation mechanisms regarding the Global Climate Assessment.

The two ministers listened to a summary of the working teams on the results of consultations they held during the past period with various parties and heads of delegations, to identify the urgent concerns and demands of developing countries, in order to identify the main topics that can be focused on with regard to climate financing and implementation mechanisms.

Conclusion The joint leadership of Egypt and Canada on climate finance and implementation mechanisms for COP28 is a significant development,The two countries are committed to working together to ensure that the conference achieves ambitious outcomes in these areas, The consultations held with various parties so far have been productive, and the two ministers are confident that they can help the presidency of the conference to find starting points for negotiations with a technical and political agreement.