Within the scope of the national contributions to reduce transportation sector emissions by 7% and Egypt seeks to complete clean transportation projects with investments worth EGP 1 billion
Egypt will conclude agreements for projects aimed at reducing carbon emissions from the industrial sector, with investments amounting to $270 million during COP28, the Minister of Environment, Yasmine Fouad announced in an interview with Asharq Bloomberg.
She added that the implementation of these projects will be at the beginning of 2024.
Within the scope of the national contributions to reduce transportation sector emissions by 7%, Egypt seeks to complete clean transportation projects with investments worth EGP 1 billion, Fouad stated.
During the interview, minister of environment added that the government started the establishment of food, water, and energy projects with investments amounted to $15 million during the COP27 with aims to conclude these projects during COP28.
Within the framework of Egypt’s strategy to boost emissions reduction, earlier In November, Egypt and the International Energy Agency (IEA) signed their first-ever joint work program, committing tackle methane emissions from fossil fuel use, renewable energy deployment and hydrogen production.
Recently, The Suez Canal Economic Zone (SCZone) and Norway's Scatec ASA signed a memorandum of understanding (MoU) with $1.1 billion to supply ships with green fuel in East Portsaid on the sidelines of COP28.
