Sharm el-Sheikh Climate Summit Launches ‘Guide to Fair Finance’

Sharm el-Sheikh Climate Summit Launches ‘Guide to Fair Finance’

The 2022 UN Climate Change Conference (COP27) witnessed the launch of the Sharm el-Sheikh Guide to Fair Finance – an international framework that seeks to address challenges facing developing countries and emerging economies, especially African states, and help them obtain financing to achieve their ambitions in the climate agenda.

The Sharm el-Sheikh Guide to Fair Financing is aligned with the objectives of the Egyptian presidency to strengthen comprehensive partnerships to achieve a flexible and sustainable recovery, facilitate access to equitable financing, and support developing countries in their transition towards a green economy.

During a high-level event, Egypt’s Minister of International Cooperation, Dr. Rania Al-Mashat, introduced the guide, which constitutes one of the initiatives launched by the host country during the COP27 summit.

She noted that the preparation of the guide was based on a participatory approach, and consultations with more than 100 relevant parties, representatives of governments, multilateral and bilateral development partners, the private sector, commercial and investment banks, climate finance funds, think tanks and non-profit organizations.

The minister added that the Guide to Fair Financing was based on 12 key principles to stimulate climate finance. These principles serve as a guiding framework for encouraging partnerships between all relevant parties, particularly the public and