Egypt inaugurates 1st edition of Climate, Environmental Investment Forum

CAIRO - 12 September 2023: Under the patronage of His Excellency President Abdel Fattah El-Sisi, Dr. Mostafa Madbouly, the Prime Minister, inaugurated the first edition of the Climate and Environmental Investment Forum in Egypt.

 

This was in the presence of Dr. Yasmin Fouad, Minister of Environment. The event took place in the New Administrative Capital and was attended by Mrs. Ivon Bauman, the Swiss Ambassador to Egypt, as well as a significant number of ministers, officials, heads of various economic and regulatory bodies, and leaders of major companies involved in diverse economic activities.

 

Dr. Mostafa Madbouly, the Prime Minister, is scheduled to launch the Egypt Climate and Environmental Investment Platform during the forum. This interactive bilingual platform (in English and Arabic) provides an overview of Egypt's investment ecosystem, green economy opportunities, and climate resilience. It serves as an online gateway for business leaders, developers, financiers, investors, and supporting institutions, offering preliminary economic feasibility studies and promising investment opportunities in waste management, sustainable energy, eco-tourism, bio-based industries, agriculture, and food production.

 

Additionally, the platform serves as a comprehensive source of market data, climate, and environmental studies, as well as information about green financial facilities provided by leading Egyptian and international financial institutions for climate and environmental investments in Egypt.

 

It also acts as a direct communication channel with the Ministry of Environment and the Climate and Environmental Investment Unit (CLEIU) to empower investors and stakeholders to receive support and services for the development and promotion of climate and environmental-related investments.

 

During the forum, Dr. Yasmin Fouad, the Minister of Environment, presented Egypt's National Climate Strategy 2050, investment and innovation opportunities in environmental sectors, and the support provided by the Ministry of Environment to environmental investors.

 

The forum comprised six sessions, including one that focused on creating favorable conditions for climate and environmental investments in Egypt. High-level representatives from both the public and private sectors discussed policies, legislative and regulatory frameworks governing climate and environmental investments in Egypt, as well as the latest developments aimed at creating an investment-friendly environment to attract both local and foreign investments. Another one was titled "Overview of Key Investment Opportunities in Climate and Environment in Egypt," highlighting investment opportunities in climate and environmentally-friendly solutions in sectors such as sustainable agriculture, waste management, renewable energy, eco-tourism, and bio-based industries. These investment opportunities are characterized by profitability and broad positive social, economic, and environmental impacts. Market trends and business advantages will also be highlighted.

 

Furthermore, the forum featured a session on "Climate and Environment Investments: A Financial Perspective" that discussed the importance of mitigating investment risks and incentivizing private investments from an environmental and climate standpoint, as well as from economic and social development perspectives. It showcased the products and financial services related to climate and environmental investments in Egypt offered by national and international financial institutions. 

 

The forum also included an in-depth discussion of environmental investment sectors: waste management and sustainable energy. This session showcased the efforts of the Egyptian government to create an investment-friendly environment for waste management, waste-to-energy initiatives, and sustainable energy solutions. It also highlighted the latest programs and initiatives undertaken by international development partners in these sectors. Success stories of investment and ongoing investment opportunities from pioneering developers and small and emerging companies were also presented.

 

“The Environmental and Climate Investment Forum will be organized annually to become the main event for presenting investment opportunities to the private sector, with the aim of increasing green investments,” said Dr. Yasmin Fouad, Minister of Environment.

 

Hosting the forum is part of the ministry’s commitment to achieving the goals of the Sustainable Development Strategy (Egypt Vision 2030), which includes the protection of natural resources, the transformation of environmental challenges into investment opportunities, the promotion of the circular green economy concept, and alignment with the state's vision to enhance the private sector's contribution to the economy. This will result in sustainable economic development and the creation of more job opportunities.”

 

The forum reflects Egypt's leading role in environmental preservation and adaptation to climate change. It builds on the outcomes of the COP27 Climate Change Summit to strengthen partnerships with the private sector. This aims to encourage it to make more green investments to advance Egypt's path toward a green transformation. It also encourages initiatives for a greener future for Africa and the world as a whole, all in preparation for the upcoming COP28 Climate Conference in the United Arab Emirates.

 

The forum was organized in partnership with the United Nations Industrial Development Organization (UNIDO) through the "Inclusive Green Growth in Egypt" project, funded by the Swiss Agency for Development and Cooperation (SDC).

 

The forum reflected the efforts of UNIDO and the project in collaboration with the Egyptian government to promote comprehensive and sustainable industrial development in Egypt, transitioning to a green and circular economy by stimulating green business opportunities and growth, as well as achieving environmental sustainability in key industrial sectors.