Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, said that Public and Private Sectors Partnerships (PPPs) can contribute effectively to achieving green economic and social development in Africa.
His remarks came during his participation in a session about the private sector’s role in implementing climate solutions during the events of NYC Climate Week, with the participation of Ambassador David Thorne, Senior Advisor Office of the US Special Presidential Envoy for Climate, Yakubu Muhammed Baba, Registrar and Chief Executive of Environmental Health Council of Nigeria, and Amin Adam, Deputy Minister for Energy in Ghana.
Mohieldin said that despite only 3% of Africa contributing to global warming, the continent people and economies are suffering from climate change many double this rate.
“Economic and social development in Africa must be green and clean, otherwise the continent will keep suffering from climate change and will keep paying to deal with its impacts,” Mohieldin said, adding that solving this problem requires joint work from governments, the private sector and NGOs, besides highlighting finance and investment opportunities in climate action, applying new technologies, and enhancing data systems that help to achieve climate targets.
The climate champion clarified that public finance should play the main role regarding adaptation projects besides minimizing the risk of financing and investing in these projects, and this will help encourage private sector participation in projects of solar energy, renewables, green hydrogen and other adaptation projects.
“Adaptation needs more attention from public finance and more participation from the private sector. According to a GCA report, only 3% of financing adaptation measures in Africa come from the private sector.” Mohieldin said.
Mohieldin stated that there’s a wrong thought that mitigation measures help reduce greenhouse gases everywhere, while the results of adaptation measures stay local, explaining that the non-implementation of adaptation projects will have dire consequences in different communities, and will raise tensions all over the world, and will lead to a big increase in the numbers of refugees.
Mohieldin pointed to the importance of the five major regional forums initiatives launched by Egypt’s presidency of COP27, UN regional economic commissions and HLCs, four of which resulted in more than 70 projects that represent the result of discussions between governments and the private sector, which make these projects promising opportunities of PPPs.
