2 October 2024, Cairo, Egypt – The 4th UfM Energy and Climate Business Forum took place in Cairo, bringing together senior national and inter-governmental officials, international financial institutions leaders, and private sector actors in the field of sustainable energy from across the Mediterranean.

Held in the heart of Cairo, the Forum showcased the participant’s strong will for collaboration on innovative financing solutions and highlighted potential opportunities for sustainable energy transition and climate actions.

The Forum, organized in collaboration with the Regional Centre for Renewable Energy and Energy Efficiency (RCREEE), was held on the sidelines of the Cairo Sustainable Energy Week (CSEW), taking place from 1-3 October 2024.

The event featured a series of sessions focused on green finance, funding mechanisms for climate action, and the role of multilateral development banks and carbon markets in fostering a just energy transition and sustainable development in the region.

In his opening remarks to the CSEW, Secretary General Nasser Kamel emphasized the importance of regional cooperation in tackling climate change and promoting renewable energy. “Together, we have the power to transform the region into a global leader in sustainable energy. Let us seize this opportunity with determination and unity,” he stated.

The event highlighted Egypt’s commitment to accelerating access to renewable energy, aiming to contribute 42% to the energy mix by 2030. This ambitious target underscores the country’s dedication to climate action, following its hosting of the COP 27 climate summit in 2022.

The Republic’s Minister of Planning, Economic Development, and International Cooperation, Rania Al Mashat, addressed the Forum with a recorded speech, emphasizing the country’s commitment to sustainable energy transition in the face of climate change.