On June 14-16, 2023, the British Egyptian Business Association (BEBA) organised a sectoral mission to the UK entitled: Growing Green: Boosting Trade & FDI Linkages Towards a Sustainable Future to discuss with UK partners, the outcomes of COP27 that represented a critical opportunity for Egypt to promote its domestic agenda on climate action, as enshrined in its ambitious Vision 2030.

During the three-day mission, Egyptian Ministers; Minister of Petroleum & Mining, HE Tarek el Molla; Minister of Finance, HE Dr. Mohamed Maait; Deputy Governor of the Central Bank, Rami Aboul Naga and business leaders gathered in London to explore ways of advancing climate-driven policies through UK-Egyptian cooperation and investment in strategic sectors including Green Finance, Decarbonisation, Hydrogen, Mining, and Financing in Decarbonisation.  Moreover, there was plentiful opportunities for networking and B2B engagement across the three days.

With the ongoing global shift towards reducing carbon emissions and producing green energy sources in the past couple of years, Egypt, recognizing the significance of this shift, has undertaken substantial efforts to promote decarbonization and embrace renewable energy solutions. Primarily, the country launched in May 2022, Egypt’s National Climate Strategy 2050, which envisions a reduction in carbon emissions, increased use of renewable energy sources, and the production of green hydrogen at a cost of $1.7 per kg by 2050.

With the green hydrogen strategy on the verge of being released, Egypt is working on developing streamlined policies and incentives to attract even more investments, as well as considering the introduction of tax breaks beside prioritizing ammonia in port access as per the recommendations of industry experts.

To read more click here