On the 24th of October 2022, the COP27 Presidency hosted in Cairo the Roundtable on discussing the draft report of “Independent High-level Expert Group on Scaling up Investment and Finance to Deliver on Climate Ambition and Development Goals”.
The Independent High-Level Expert Group was launched in July 2022 by the COP26 Presidency and the COP27 Presidency with the goal to put forward policy proposals to incentivize public and private investment and finance required for delivery of the commitments of the UNFCCC, Paris Agreement and Glasgow Climate Pact which will also help build momentum for the COP27 and beyond.
The Group works in close coordination and collaboration with the UN Climate Change High-Level Champions. It is comprised of 23 high-level experts drawn from all regions of the world and from both the public and private sectors.
Wael Aboulmagd, Egyptian Ambassador and Special Representative of the COP27 President highlighted that the COP27 Presidency recognizes that climate finance in developing countries is absolutely necessary to achieving the goals of the Paris Agreement.