PPPs can effectively contribute to achieving green economic and social development in Africa: Mahmoud Mohieldin:
Mahmoud Mohieldin, UN High-Level Champion on Climate Change for Egypt and UN Special Envoy for Financing the 2030 Agenda for Sustainable Development, said public-private partnerships (PPPs) can help effectively in achieving green economic and social development in Africa.
His remarks came as he participated in a session on the role of the private sector in delivering climate solutions at NYC Climate Week events, with the participation of Ambassador David Thorne, Senior Advisor to the Office of the Presidential Special Envoy for Climate, Yakubu Muhammed Baba, Registrar and Managing Director of the Environmental Health Council of Nigeria, and Amin Adam, Deputy Minister of Energy in Ghana.
Mohieldin said that despite only 3% of Africa contributing to global warming, the continent’s peoples and economies are suffering from climate change, many of which are doubling that rate.
“Economic and social development in Africa must be green and clean, otherwise the continent will continue to suffer from climate change and will continue to pay to cope with its impacts,” said Mohieldin, adding that solving this problem requires joint work. governments, the private sector. and NGOs, in addition to highlighting climate action finance and investment opportunities, applying new technologies and improving data systems that help achieve climate goals.
The climate champion clarified that public finance should play the main role regarding adaptation projects in addition to minimizing the risk of financing and investing in these projects, and this will help encourage private sector participation in projects. solar energy, renewable energy, green hydrogen and other adaptation projects.
“Adaptation requires greater attention from public finances and greater participation from the private sector. According to a GCA report, only 3% of financing for adaptation measures in Africa comes from the private sector. said Mohieldin.
Mohieldin said there is a misconception that mitigation actions help reduce greenhouse gases everywhere, while the results of adaptation actions remain local, explaining that failure to implement adaptation projects will have disastrous consequences in different communities and will increase tensions all over the world. , and will lead to a sharp increase in the number of refugees.
Mohieldin underlined the importance of the five major regional forum initiatives launched by the Egyptian COP27 Presidency, the UN Regional Economic Commissions and the HLCs, four of which have resulted in more than 70 projects which represent the result of discussions between governments and the private sector, who make these projects promising PPP opportunities.