Egypt’s PM discusses readiness to participate in COP 27 with several heads of banks, major companies

Daily News Egypt
4 Min Read

Prime Minister Mostafa Madbouly held a meeting today with a number of heads and officials of national banks and companies that will be participating in the 27th Conference of Parties to the United Nations Framework Convention on Climate Change (COP 27).

Madbouly began the meeting by noting the importance of convening the conference during these exceptional global circumstances, pointing out that the COP 27 has gained much momentum since the COP 26, which saw the announcement of a package of pledges that would contribute to reducing the negative impacts of carbon emissions and put the world on a more sustainable and less carbon-producing path.

The PM indicated that the COP 27, which will be held in Sharm El-Sheikh this November, will discuss ways to implement the projects and pledges put forward during the previous edition.

He added that it will provide an opportunity for the world to see successful projects by the Egyptian state and the private sector in the areas related to climate change, as well as an opportunity to promote cooperation between countries and open areas for discussion on top-priority files.

Furthermore, he said that the conference will be attended by a large number of heads of state and government, senior officials, and representatives of major international companies and institutions, which makes it an important opportunity for further cooperation with development partners as well as an opportunity to market and promote Egypt’s projects.

For his part, Minister of Finance Mohamed Maait explained that in the context of preparations for Egypt’s hosting of the COP 27, many international companies have expressed their desire to sponsor the activities of the conference, noting that is still plenty of opportunity for more companies to sponsor the event.

He also reviewed the criteria for selecting companies wishing to sponsor the conference, explaining that the sponsorship comes within the framework of the Egyptian business community’s adoption of initiatives and standards related to climate change.

The companies that wish to participate in the sponsorship must comply with the environmental requirements set by the conference’s secretariat.

Additionally, he listed a number of advantages that will be granted to companies wishing to sponsor the conference, pointing out that data related to sponsorships were made available on the conference’s website

Next up, Mohamed Al-Etreby — President of the Federation of Egyptian Banks (FEB) — stressed that full support and sponsorship will be provided for the activities of this important conference with the aim of working on the success of its organisation, which reflects the ability and success of Egypt in organising such global events.

For their part, the attendees expressed their thanks for participating in this meeting, affirming their full support for the climate change conference and the pursuit of its success, noting that they had many plans, ideas, and proposals that would contribute to the success of this conference, whether related to sponsoring events or organising seminars.

The participants also confirmed their interest in green finance and that they are currently striving to present the best initiatives in a way that reflects the efforts of the Egyptian private sector in this crucial file.

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