Energy & Transport: Egypt’s Role in Mitigating and Adapting to the Effects of the Climate Crisis in view of COP 26

Thank you Professor el-Sobki,

Dear Secretary General Osama Mobarez,

Dear 1st Undersecretary Ahmed Mohina;

Dear participants,

Very warm greetings and thanks for your participation in this green webinar, that will discussEgypt's contribution to the reduction of greenhouse gases in various sectors and its action plan to reduce emissions.

Already before the corona pandemic and even more so now, the Green Deal is one of the top priorities of the European Union. It strives to make the EUclimate neutral by 2050. We cannot do this alone; we cannot do it without our neighbours; we need to cooperate on a wide range of issues.

On our side, the EU has laid the foundation for a transport system that will achieve its goal of a green and digital transformation, and will be more resilient to future crises. As outlined in the European Green Deal this approach would result in a 90% cut in emissions by 2050, delivered by a smart, competitive, safe, accessible and affordable transport system. Inspired by the Green Deal, the EU aims to support Egypt on expanding its transport infrastructure based on sustainability.

The EU's energy cooperation with Egypt will take into account the profound geo-economic and geopolitical shifts set in motion - not least - by the energy transitions around the globe. The aim of such cooperation is to help us adapt to this new paradigm.

The EU is keen on partnering with Egypt to support ambitious plans developing aGreen Economy. This intention stems from the EU's commitment to support low carbon, resource efficient and socially inclusive policies.

Climate is already at the forefront of Egypt's development policy. At the regional level, Egypt ratified the Paris Agreement in 2017 and was the initiator of the African Renewable Energy Adaptation Strategy. In November 2020, Egypt proposed to host COP27 which was endorsed by the African Heads of States and should still be approved at the COP 26.

The National Council for Climate Change, which is well established, plays an important role. It aims to integrate national efforts to implement plans to reduce Green House Gas emissions while bringing up-to-date adaptation strategies to reduce the adverse effects of climate change. The National Strategy for Climate Change will be an important planing tool.

Already now Egypt is taking important strides towards green economy and sustainability by encouragingeco-tourism, promotingbiodiversity, reducing plastic waste and curbing down greenhouse gas emissions. The successful 5 year-green bonds will certainly diversify Egypt's investor base and make people aware of progress achieved. Proceeds will be used to finance public green projects in different sectors such as in transport and in energy.

Let me be a bit more concrete on what EU - Egypt cooperation is about in Energy and Transport just ahead of Cop 26:

It includes important infrastructure projects such as the 3rdphase of the third metro line in Cairo,the upgrading the Alexandria Tramway, Gulf of Suez and Gulf El Zayt windfarms, reducing refineries emissions such in the Suez Oil Refinery, and the expansion of electricity and gas grids. It also includes large and medium size TA to support reforms of these sectors at large.

We are also supporting the private sector together with EBRD through the very successful Green Economy Financing Facilities.

A quick word about what is coming next:

In the framework of our multi-annual planning(2021-2027), we will be working withEgypt on a number of Team Europe initiatives in Transport, Energy, Digitalization and in Water. Aspects of climate and sustainability will have more weight and will be cornerstone in all our initiatives.

In this respect, I would like to underline that we are willing to support Egypt in drafting its National Hydrogen Strategy and its Third National Energy Efficiency Action Plan.

Other green infrastructure projects that will be covered by our cooperation include urban transport projects, logistic centers, electricity transmission control centres and numerous capacity building projects.

Together we hope to be able to deliver a critical mass of green economy investment and technical assistance projects across key sectors, generating positive economy-wide effects.

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