Promoting climate-friendly practices in Egyptian businesses

Context

Egyptian businesses face significant hurdles in competing within the growing green economy. They struggle to meet new environmental standards with their traditional practices. Broader economic challenges, such as Egypt's trade deficit, global market volatility, and geopolitical tensions in the region, exacerbate these difficulties.

Additionally, limited access to financing and consulting services prevents companies from adopting eco-friendly and climate-smart innovations. The underdeveloped start-up ecosystem for climate-focused ventures further hinders progress. There is also a pressing need to empower women in climate-friendly industries, providing them with opportunities to become experts and work with industrial companies.

The project addresses these gaps by supporting both public and private entities in helping Egyptian businesses become more environmentally responsible and competitive.

Objective

Egyptian businesses are better prepared to fulfil environmental and climate-related requirements, driving a transition to a greener economy.

Approach

The project takes an integrated approach, combining elements of the private sector and financial system development to support Egyptian companies in that sense:

• equipping employees of governmental institutions and public organisations with expertise in industrial sustainability standards, and support them in developing green policies
• guiding financial institutions to align their portfolios with green transition and environmentally friendly investments
• facilitating investments in green industrial production by fostering matchmaking between industrial companies and financial institutions
• improving the green service offerings of business consultancies to help industrial companies implement climate-friendly processes and decarbonise their production
• empowering start-ups to develop innovative business models for climate protection solutions in cooperation with the industry and research institutions

Last update: July 2024