Can climate change be tackled without hindering Egypt’s economic growth?

With the conclusion of Egypt’s COP27 Summit in Sharm El Sheikh, much has been discussed about the historic deal struck on the ‘loss and damage’ fund, which- when in effect- sees developed nations compensate developing countries $100 billion per year for the damage and economic losses caused by climate change.

Hailed as a big win for developing nations, the deal, however, did not include any new agreements on curbing fossil fuels or reducing greenhouse gas emissions.

But for Egypt, it was a success. “The work that we have managed to do here in the past two weeks, and the results we have together achieved, are a testament to our collective will, as a community of nations, to voice a clear message that rings loudly today here in this room and around the world: that multilateral diplomacy still works,” said COP President Sameh Shoukry, Egypt’s foreign minister, at the end of the summit.