COP28 Joint Leadership of Climate Finance and Implementation Mechanisms

Egypt and Canada Strengthen Joint Leadership in COP28 Climate Finance and Implementation Mechanisms

Cairo / Ottawa – In preparation for the upcoming COP28 Climate Conference, Egypt and Canada reaffirmed their joint leadership in spearheading negotiations on climate finance and implementation mechanisms, during a high-level virtual meeting between Dr. Yasmin Fouad, Egypt’s Minister of Environment, and Steven Guilbeault, Canada’s Minister of Environment and Climate Change.

The two ministers reviewed the latest progress in their shared facilitation mandate, focusing on consultations conducted with multiple global stakeholders. The aim is to ensure a balanced and inclusive negotiation process that prioritizes the urgent needs of developing countries, particularly in the areas of finance, technology transfer, and implementation pathways for the Global Climate Assessment.

Inclusive Consultations and Technical Priorities

During the meeting, both ministers received summaries from their technical teams outlining outcomes of recent consultations with various parties and delegation heads, which have identified key issues and demands related to:

• Climate finance accessibility

• Technology transfer for climate adaptation and mitigation

• Operational options under Article 2.1 of the Paris Agreement

• Mechanisms for effective implementation of global climate goals

Dr. Fouad expressed optimism about the continued productive collaboration with her Canadian counterpart and emphasized the importance of aligning on key strategic questions that will guide upcoming ministerial consultative workshops. These questions are intended to provide participating nations with the space to freely articulate their perspectives and concerns, especially on financing, implementation, and equity.

Toward an Ambitious COP28 Outcome

Both ministers reiterated their commitment to achieving ambitious and practical outcomes at COP28. They underscored the need to bridge technical and political dialogues, leveraging the joint leadership of Egypt and Canada to offer starting points for consensus among all parties.

“Our goal is to make sure that the voices of the most climate-vulnerable nations are heard and acted upon. COP28 must deliver on the promises of climate finance and ensure fair, inclusive implementation mechanisms,” said Dr. Fouad.

The meeting concluded with mutual agreement to intensify coordination efforts ahead of COP28 and to maintain an open, transparent process that supports the presidency of the conference in steering successful negotiations.