Minister of Environment to co-lead climate finance talks at COP29 in Baku

CAIRO – 19 November 2024: Egypt’s Minister of Environment, Yasmine Fouad, is heading to Baku, Azerbaijan, to participate in the ministerial segment of the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change. At COP29, Fouad will co-lead negotiations on the New Collective Quantified Goal (NCQG) for climate finance, alongside Australia’s Minister for the Environment, Chris Bowen.

 

The NCQG is a new global climate finance target, which the Conference of the Parties, serving as the meeting of the Parties to the Paris Agreement, is expected to set at a minimum of USD 100 billion per year, prior to 2025.

 

In her role, Fouad will represent developing nations and will navigate critical discussions that are central to establishing a clear and accessible climate finance framework. These negotiations are particularly important in ensuring that the conference, dubbed "The Finance COP," produces tangible outcomes to support developing countries and vulnerable communities in adapting to climate change impacts and implementing mitigation measures.

 

Ahead of the ministerial segment, Fouad emphasized the critical nature of this phase of the conference. She noted that it builds on months of preparatory work and is expected to address the aspirations of nations and communities worldwide. This stage involves key discussions on climate finance, mitigation, adaptation, and Article 6 of the Paris Agreement, with dual ministerial leadership teams appointed by the conference presidency to guide these discussions. 

 

Fouad highlighted her commitment to focusing on the financial needs of developing nations and those most vulnerable to the impacts of climate change. She aims to secure a climate finance goal that is transparent, accessible, and balanced, ensuring that the interests of all nations are met. She emphasized that this is a vital step toward accelerating global efforts to combat the climate crisis.

 

During the thematic days of the conference, Fouad will actively participate in sessions addressing issues such as tourism and transport, biodiversity, nature, coastal regions, and the challenges facing indigenous populations. She is also scheduled to join a high-level roundtable on the intersection of climate and biodiversity, with a focus on fostering a nature-positive future and advancing the goals of the Paris Agreement.

 

On the sidelines of COP29, Fouad will hold several bilateral meetings with international counterparts and representatives of global organizations to explore opportunities for collaboration on climate-related initiatives.