CAIRO – 15 May 2022: Egypt has invited African countries to hold a consultative session on climate and energy to coordinate African position ahead of COP27 in November. The workshop comes on the sidelines of a conference for African minister of finance, planning, and economic development, which will kick off Monday in Senegal. Gad called on the African nations to arrive at a “fair transition” to renewable energy and secure sustainable financing of green energy projects in Africa as well as to follow up on the pledges made to Africa in COP26. For his part, John-Paul Adam, the Director for Technology, Climate Change and Natural Resources Management in the United Nations Economic Commission for Africa, said African constitutes less than 1 percent of the share of green bonds to finance renewable energy and green economy projects worldwide. He emphasized that countries that invested in renewable energy early on have benefitted from price stability and distanced themselves from increasing energy prices in light of international turmoil.

Source: Egypt Today May 15, 2022 15:12 UTC