With rich nations falling behind on their pledge to mobilise $100bn annually to help developing countries mitigate climate risks and adapt to a warming planet, the US Chamber of Commerce is hosting senior American and Egyptian officials to build momentum ahead of the COP27 Conference of the Parties summit to be held in Sharm el-Sheikh in November.
“COP27 is an African COP, and Egypt will be listening carefully to the needs and priorities of African and other developing countries who have suffered greatly from the negative effects of climate change,” Egyptian Foreign Minister Sameh Shoukry said on Monday. “But we also recognise the need to work hand-in-hand with all of the parties to be able to deal with these issues.”
John Kerry, the special envoy for climate in President Joe Biden’s administration, said US private sector financing is crucial to meeting the UN’s goal of keeping global
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