The Minister of Investment discusses with the British climate representative the promotion of investment and support for renewable energy

Sustainable investment in Egypt is witnessing rising momentum, with the country adopting ambitious strategies to drive the transition towards a green economy and promote renewable energy. This comes within the framework of a comprehensive vision based on integrating financial, investment and regulatory policies, which allows the creation of a stable and transparent environment for international investors, and stimulates innovation and development in the fields of energy and renewable resources.

At the same time, Egypt seeks to expand the horizons of regional and international cooperation, by strengthening partnerships with friendly countries and global institutions, and launching advanced platforms for tradingrenewable energy certificates and carbon market mechanisms. Planning also focuses on developing green projects, creating central databases, in addition to programs to build the technical capabilities of workers, ensuring the integration of the economic and social dimensions of sustainable development. Together, these efforts chart Egypt’s path towards a sustainable green economy, making it a leading regional center for investment in renewable and clean energy.

An expanded meeting to enhance joint cooperation

In this context, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, met with Dr. Rachel Kate, the United Kingdom’s Special Representative for Climate Affairs, in an expanded meeting that discussed ways to enhance bilateral cooperation in the fields of sustainable investment and renewable and clean energy, as well as reviewing the Egyptian state’s efforts to transition towards a green economy, in preparation for the ministerial launch of the Green Growth Partnership between the two countries next May.

The meeting also discussed the importance of having clear and stable regulatory frameworks and government policies that contribute to enabling governments and international investors to evaluate investment opportunities and integrate them efficiently into their business models. The Minister stressed that the market has natural mechanisms for correction and growth in light of the availability of an appropriate legislative and supervisory environment, stressing the importance of coordination between financial, monetary and investment policies to enhance confidence and attract foreign direct investment flows, in addition to activating the financial market as one of the main drivers of financing. Sustainable.

The two sides also discussed mechanisms for activating the first voluntary carbon market in Egypt, and ways to link the local market to global financial centers, in addition to discussing the file of renewable energy certificates. These efforts and partnerships reflect Egypt’s approach to establishing partnerships to achieve goals and work to combat climate change by adopting financing solutions and clean technologies to enhance sustainability.

A unified national register of climate projects

The Minister reviewed the state’s efforts to create a unified national registry for climate projects, which supports the development of the environmental certification system such as carbon credits and international renewable energy certificates (I-RECs), and contributes to reducing the operational costs of companies.

The meeting also witnessed a discussion of setting fair standards for measuring the carbon footprint of energy-intensive products, ensuring their compatibility with international standards and preserving the competitiveness of Egyptian exports, especially in light of the mechanism for adjusting European carbon limits.

Supporting the investment climate and facilitating financing

Within the framework of supporting the investment climate, the meeting discussed ways to overcome the challenges facing project developers, and the importance of having unified central databases for developers, in addition to strengthening technical capacity-building programs and developing project evaluation mechanisms, while reviewing investment opportunities in promising sectors.

The two sides also discussed ways to provide soft financing to support the industrial transformation towards the use of green hydrogen and clean technologies, as the Minister stressed that structural reform efforts include developing the efficiency of government institutions and digitizing services, while paying attention to the social dimension by qualifying and training workers for green economy jobs, in order to achieve comprehensive and sustainable economic growth, in line with the eighth goal, and enhance financial and economic inclusion in a way that supports comprehensive and sustainable growth.

At the conclusion of the meeting, Dr. Rachel Kate affirmed the United Kingdom’s commitment to supporting Egypt’s efforts in promoting green growth, praising the potential that Egypt possesses to be a regional center for energy and investment. For his part, Dr. Mohamed Farid Saleh stressed that the government continues to create an attractive environment for investment, by providing multiple incentives, including the “golden licence,” which enhances Egypt’s position as a major destination for sustainable investment.

In conclusion, the activities of the meeting between Egypt and the United Kingdom demonstrate the extent of the state’s commitment to transforming its ambitions towards a sustainable green economy into a practical reality, through developing a unified legislative and regulatory structure that enhances confidence among investors and facilitates their involvement in renewable and clean energy projects.

The focus on creating a unified national registry for climate projects and activating the voluntary carbon market reflects the state’s keenness to integrate environmental, economic and social dimensions, in a way that contributes to reducing emissions and enhancing the sustainability of resources, in line with the seventh goal on clean energy and the eighth goal on sustainable economic growth.

Moreover, the practical steps to strengthen bilateral and international partnerships, facilitate soft financing, and develop the technical capabilities of workers, confirm Egypt’s comprehensive vision of transforming its geographical location into a regional hub for energy and sustainable investment.

For its part,The Earth Guards Foundation confirms that this integration between national policies and international cooperation consolidates Egypt’s role as a leading platform for implementing innovative solutions that support the transition towards renewable energy and green growth, in line with the ninth goal of sustainable industrialization and innovation, and the seventeenth goal of global development partnerships.