Egypt hosts 1st official meeting of UNFCCC's Transitional Committee in Luxor

CAIRO – 27 March 2023: Minister of Foreign Affairs and COP 27 President Sameh Shokry delivered Monday a recorded speech at the first official meeting of the UNFCCC's Transitional Committee hosted by Egypt in Luxor on March 27-29.

The committee is concerned with financing arrangements pertaining to loss and damage through the fund founded during COP 27 to fulfill that purpose.

Minister Shokry noted that climate phenomena have been threatening African and other developing countries, which puts a bigger financial burden on them. He further highlighted that such strain is expected to increase threefold by 2050 as indicated by the Intergovernmental Panel on Climate Change (IPCC).

The committee comprises 24 members, 14 from developing states and 10 from developed ones, and should provide recommendations on financing arrangements and creative sources of funding to COP 28 to be hosted by the UAE later this year.

The ministry's press statement pointed out that Egypt's presidency of COP 27 had organized a meeting for committee members to hold consultations on the topics that would be discussed in the official meeting, and work on confidence building.