Environmental and Climate Investment Forum 2023 Its Role in Boosting Green Investments in Egypt
Green investment, renewable energy, and the green economy are among the most essential topics that grab the attention of many countries worldwide. This is to reduce environmental risks, reduce carbon emissions, and achieve sustainable development.
Egypt has already encouraged green investments by implementing many projects that align with its economic and environmental priorities. It also held the Environmental and Climate Investment Forum 2023 to boost green investment in Egypt. Let’s discover together everything about this forum.
About Environmental and Climate Investment Forum 2023
Under the directives of President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, Dr. Mostafa Madbouly, the Prime Minister of Egypt, inaugurated the activities of the 1st edition of the Environmental and Climate Investment Forum, on September 12, 2023, in the New Administrative Capital, the future capital of Egypt.
This forum was held with the participation of a large number of ministers, officials, heads of various economic and regulatory bodies, and leaders of major companies operating in diversified economic activities. From which are Dr. Yasmine Fouad, Egypt’s Minister of Environment, Yvonne Baumann, Ambassador of Switzerland to Egypt, and Ciyong Zou, a Deputy to the Director General and the Managing Director of the Directorate of Technical Cooperation and Sustainable Industrial Development at the United Nations Industrial Development Organization (UNIDO).
It is worth noting that this forum was organized in partnership with UNIDO and was funded by the Swiss Agency for Development and Cooperation (SDC) – the Government of Switzerland. We will not forget mentioning that this forum will be organized annually to become the main event for presenting investment opportunities to increase green investment.
What Does this Forum Reflect?
This forum comes within the framework of Egypt’s keenness to protect natural resources and transform environmental challenges into investment opportunities. It is also a continuation of Egypt’s pioneering role in preserving the environment, adapting to climate change, building on the results of the COP27 climate change summit, and completing the path towards the next COP28 climate conference in the UAE.
This forum comes within the framework of Egypt’s keenness to protect natural resources and transform environmental challenges into investment opportunities. It is also a continuation of Egypt’s pioneering role in preserving the environment, adapting to climate change, building on the results of the COP27 climate change summit, and completing the path towards the next COP28 climate conference in the UAE.
This Forum’s Objectives
The Environmental and Climate Investment Forum 2023 has many objectives, including:
- Presenting investment opportunities to the private sector in many fields, including sustainable energy, waste recycling, eco-tourism, the bio-based economy, sustainable agriculture, and food production.
- Enhancing the private sector’s contribution to the economy and encouraging them to provide more green investments to support Egypt’s path towards green transformation.
- Presenting visions and proposals for the growth of environmental investment.
- Holding sectoral sessions to raise awareness of the promising opportunities for young graduates and entrepreneurs in the field of climate change.
- Spreading the concept of the circular green economy.
- Providing more green job opportunities.
- Achieving the goals of the sustainable development strategy (Egypt’s Vision 2030).
- Preserving the rights of current and future generations.
How the Green Investment will have an Effect on the Egyptian Economy?
Dr. Yasmine Fouad, Egypt’s Minister of Environment, stated that the Ministry exerted a great effort in raising awareness of the importance of integrating the environmental dimension into all economic sectors, which helps in continuing the wheel of development, economic growth, and the preservation of natural resources.
She added that the Egyptian government adopted plans to green the general budget, move towards a green economy, and ensure that all Egypt’s projects will be 100% green by 2030. This will be done by setting standards for integrating the environmental dimension into national plans and projects and developing the national strategy for climate change, aiming to activate climate action in Egypt to achieve sustainable economic growth.
Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), stated during the forum that all relevant institutions must raise the level of awareness and knowledge of the importance of engaging in projects that take into account environmental and societal dimensions, as this will have a significant economic return on Egypt.
He added that the Authority, which is responsible for monitoring and supervising non-banking financial markets and instruments, has completed developing the legislative and regulatory framework required to enhance sustainability in non-banking financial activities by providing innovative financing tools and products that support environmental investments.
It is clear that this forum will have a good impact on the environment and the Egyptian economy. To learn more about everything that happened in this forum, click here.
How the Green Investment will have an Effect on the Egyptian Economy?
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