American Chamber: Egypt Is One of   First Countries to Head for Green Economy

Tariq Tawfik, President of the American Chamber of Commerce in Egypt , stressed that climate change has become a source of a threat if not dealt with effectively, especially its impact on future generations.

He pointed out that the participation of the private sector is important in the upcoming climate summit in Sharm El-Sheikh with the government.

This came during the holding of the most important forums between Egypt and the United States of America (USA) within the framework of Egypt’s organizing of the Climate Summit in Sharm El-Sheikh, COP 27, which is organized by the American Chamber of Commerce in partnership with the American Chamber of Commerce in Egypt under the title “Building Momentum to COP27 of the United Nations: Strengthening Cooperation between the public and private sector on the climate challenge.

Tawfik added that Egypt, under the leadership of President El-Sisi, launched   "Decent  Life Initiative" to improve the lives of millions in the villages as part of Egypt's plan for sustainable development 2030, pointing out that Egypt has made strides with regard to the green economy and the offering of green bonds, as well as the expansion of new and renewable energy projects and environmentally friendly projects in various fields.

He affirmed that Egypt is one of the first countries on the continent to go green.

He explained that it is important to take advantage of technology to confront climate changes and work hard with the private sector in this context, which is what this forum calls for.

The American Chamber of Commerce had said that since Egypt is officially hosting the United Nations Climate Change Conference (COP27) in 2022, and given its role as a leader in the world's largest energy-producing region this forum will focus on ways in which governments and the private sector can work together to benefit from technology and innovation to address the climate challenge across the economy.

The forum will also seek to build momentum for the global discussion leading up to COP27 with a focus on the contribution and role of the private sector in climate adaptation and mitigation.