Egypt Advances Climate Action: Mobilizes €688 Million in Green Bond Funding to Support National Climate Change Strategy 2050

Recently, Egypt's Ministry of Environment released its 2025 climate action report, highlighting significant progress in climate finance and governance. Acting as the national authority for the Green Climate Fund, the Ministry successfully mobilized €688 million (approximately $750 million) through the Global Green Bond Initiative, with support from the European Investment Bank (EIB) and the United Nations Development Programme (UNDP). This initiative strengthens climate finance infrastructure, promotes innovative financing mechanisms, and places a strong emphasis on adaptation, aligning closely with Egypt's National Climate Change Strategy 2050.

According to the report, reviewed by Dr. Manal Awad, Minister of Local Development and Acting Minister of Environment, the program is projected to reduce emissions by 10 million tons of carbon dioxide equivalent while providing adaptation benefits to 8.3 million people across participating countries. This reflects Egypt's strategic focus on integrating national development with climate resilience, particularly in addressing regional vulnerabilities such as heat stress, water scarcity, and climate-related economic disruptions.

Expanding the Climate Investment Pipeline

The report also underscores advances in blended finance and private capital mobilization. The Green Climate Fund approved a $200 million investment in the Novastar Ventures Africa People and Planet Fund III, including a dedicated $50 million equity allocation for Egypt. This funding targets climate technology investments, with a focus on agriculture-focused climate-tech startups that enhance resilience, reduce emissions, and improve natural resource management. By attracting institutional capital, these efforts aim to scale solutions beyond pilot projects toward commercially viable, large-scale implementation.

Active Engagement in International Climate Diplomacy

Egypt demonstrated robust diplomatic involvement on the global stage. Representing President Abdel Fattah El Sisi, Dr. Awad participated in the 30th Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change, held from November 10 to 21, 2025, in Belém, Brazil. She coordinated within the African Group, Arab Group, and Group of 77 plus China, contributing to negotiations on mitigation, adaptation, capacity building, technology transfer, and climate finance. Additionally, her attendance at the Ninth Ministerial Meeting on Climate Action in Canada further solidified Egypt's position in multilateral climate governance.

Progress on Domestic Commitments and Transparency Frameworks

Domestically, Egypt completed the final draft of its third update to the Nationally Determined Contributions (NDC 3.0), which is expected to enhance mitigation and adaptation ambitions while aligning with evolving global reporting standards. The Ministry also finalized Egypt's first transparency report and fourth national communication, pending approval for submission to the UN climate secretariat.

Work is advancing on the National Adaptation Plan, designed to build institutional capacity, identify priority risks, and integrate adaptation into national planning and budgeting. In collaboration with the World Bank and German Development Cooperation (GIZ), a digital monitoring, reporting, and verification (MRV) system is under development to improve data credibility, project tracking, and climate risk disclosure.

Furthermore, 18 ministries and government entities have established dedicated climate change units, supported by specialized training programs. Egypt signed a memorandum of understanding with the Slovak Republic for deeper cooperation on environmental protection and climate policy. Internationally, Egyptian experts contributed to the Intergovernmental Panel on Climate Change (IPCC) 62nd session, with nominations as authors and reviewers for the seventh assessment report.

From Financing to On-the-Ground Implementation

Operational highlights include ozone layer protection and workforce development. The Ministry's Ozone Unit approved environmental clearances for the customs release of 336 tons of methyl bromide, in coordination with agricultural authorities. It also oversaw the establishment of three after-sales service training centers and delivered 42 training programs on refrigeration and air conditioning maintenance, including a regional course for African engineers and technicians.

Overall, the mobilization of €688 million in green bond funding forms part of a comprehensive strategy to secure long-term climate finance, reform governance, and build implementation capacity. For global investors and policymakers, Egypt's approach exemplifies how emerging markets can combine diplomatic engagement with robust financial structures to achieve enduring climate objectives in line with the Paris Agreement.