Egypt is globally ranked 22nd in the 2024 Climate Change Performance Index (CCPI) with a score of 61.8 points. Following Morocco, Egypt secured the second position in the Middle East and North Africa (MENA) region, as announced by the Egyptian Cabinet’s Information and Decision Support Center (IDSC).
The CCPI serves as an independent monitoring tool, tracking countries’ endeavors to combat climate change. It aims to enhance transparency in international climate politics, enabling a comparison of climate protection efforts and the progress made by individual countries.
Egypt has dropped two places among the medium-performing countries in this year’s index, the report said. The report indicates mixed ratings for the country across the four main categories: high in GHG Emissions and Energy Use, low in Climate Policy, and very low in Renewable Energy.
The report also notes that in June 2023, Egypt submitted its second nationally determined contribution (NDC) to the UNFCCC. However, the report highlights that the North African country has not significantly strengthened its commitments and targets to align with the necessary 1.5°C compatibility.
In June 2023, Egypt submitted its second nationally determined contribution (NDC) to the UNFCCC. However, the report notes that Egypt has not significantly strengthened its commitments and targets to align with the necessary 1.5°C compatibility.
The report highlights that the country did make tangible adjustments in emissions reduction targets, particularly in the power sector. Egypt aims to reduce 65% of greenhouse gas (GHG) emissions from oil and gas, 33% in electricity generation, transmission, and distribution, and 7% in the transport sector, all compared to 2030 ‘business-as-usual’ levels.
While Egypt has taken steps to invest in large-scale renewable energy projects, promoting the installation of solar and wind energy, the country has also encouraged substantial investments in fossil fuels, particularly fossil gas, the report stated.
The index further reveals that Egypt is the second-largest gas producer on the African continent, accounting for over one-third of total fossil gas consumption this year.
Egypt’s National Climate Change Strategy 2050 aims to consolidate all aspects of climate change in a comprehensive document. It serves as a fundamental reference, ensuring the integration of the climate change dimension into the general planning of all sectors in the country. The strategy acts as a roadmap to achieve “Objective 3.1,” addressing climate change challenges within the updated Egypt Vision 2030 framework. It enables Egypt to plan and manage climate change at various levels, supporting the achievement of economic and development goals through a low-emissions approach.
To foster the development of the green finance market, Egypt issued the region’s inaugural sovereign green bond in 2022. The proceeds are designated for financing projects in clean transportation and sustainable water management.