Enhanced Cooperation on Climate, Energy, and Industrial Transformation between EU and Egypt

The President of Egypt, Mr. Abdel Fattah El Sisi, and the President of the European Commission, Ms. Ursula von der Leyen, met in Cairo to discuss enhanced cooperation on climate, energy, and industrial transformation challenges ahead of COP27 in Egypt later this year. The two leaders reaffirmed their joint commitment to accelerate the just energy transition and develop a resource-efficient, socially just, and low-emissions climate-neutral economy to enhance shared prosperity through resilient and sustainable growth.

Key Takeaways:

Egypt and the EU will join efforts to maintain political momentum on the successful implementation of the Paris Agreement and ensure ambitious outcomes at COP27.
The two parties highlighted the importance and urgency of adaptation action, and agreed to further collaborate on an ambitious and transformative adaptation approach that supports national action, cooperation, and coordination at all levels.
Egypt and the EU will step up cooperation, with a particular focus on renewable energy sources, hydrogen, and energy efficiency actions, building on Egypt's significant potential for the cost-effective expansion of renewable power generation and clean fuel production.
The two parties will work together to improve the policy, regulatory, financial, technical, and environmental conditions and instruments needed to enhance the conducive business environment and achieve substantial flows of investments at scale.
Egypt has the opportunity to become a regional hub for the production and export of renewable and low-carbon energy, with the EU working jointly with the Egyptian government through a Mediterranean Hydrogen Partnership to promote investments in the accelerated growth of renewable electricity generation.
The EU will accelerate its transition towards a zero-carbon power system, with provision of support and investments in technologies that competitively use renewable, low-carbon power sources.
Egypt and the EU will work together on the stable delivery of gas to the EU and on the sustainable exploitation of natural gas resources, with the goal of reducing fugitive methane emissions.
The EU has provided extensive support to Egypt on mitigation and adaptation-related issues, including water resource management, sustainable agriculture, renewable energy, and energy efficiency.

Statistics:

The EU and Egypt will aim to increase adaptation capacity, enhance implementation of adaptation and resilience actions on the ground, and continue to cooperate towards averting, minimizing, and addressing loss and damage due to climate change impacts.
The two parties will accelerate the alignment of financial flows with the Paris Agreement goals, with the EU aiming to meet the USD 100 billion goal for climate finance as soon as possible.
Climate finance for adaptation in developing countries is expected to double from 2019 levels by 2025, with further mobilization of climate finance to respond to the needs of developing countries.
Egypt's hydrogen production capacities are expected to increase, with the country aiming to become a regional hub for the production and export of renewable and low-carbon energy.

Sources:

"The President of the Arab Republic of Egypt, Mr Abdel Fattah El Sisi, and the President of the European Commission, Ms Ursula von der Leyen, met today in Cairo to review and discuss enhanced cooperation on climate, energy and industrial transformation challenges ahead of COP27 in Egypt later this year."