Green Growth Summit to drive sustainable transition in Egypt, MENA

Doaa A.Moneim , Monday 13 May 2024

Hivos, an international cooperation organization, is set to host the highly-anticipated Green Growth Summit in Cairo on 14 May following the success of its recent summit in Tunisia.

Green Growth Summit

 

The summit, meant to expedite the green transition in Egypt and the broader MENA region, will convene business support organizations, representatives from the private sector and financial institutions, investors, and policymakers.

The Green Growth Summit will focus on five tracks, each addressing crucial aspects of sustainable development. The tracks are: Green Exports; De-risking Green Investment; Green Jobs; Cluster Champions; and (Green) Impact Investing.

Through expert panels and collaborative sessions, participants will explore innovative strategies, share best practices, and foster partnerships for sustainable growth and development.

The panels will provide a platform for knowledge exchange and collaborative action, highlighting the opportunities presented by the green economy. 

The "Green Economy Unlocked: The Business Case for Green" panel will showcase new business prospects, emerging trends, and exciting job opportunities in sectors such as renewable energy, sustainable agriculture, and waste management. By emphasizing entrepreneurship and innovation, the panel aims to ignite enthusiasm for a greener and more prosperous future.

Another key panel, "Greening the Workforce: Supporting the Next Generation of Green Companies and Green Jobs," will focus on the rising trend of green jobs and their significant benefits for companies and communities. Participants will present strategies for stimulating the green economy's potential to create sustainable employment, particularly for women and young people across Egypt and the broader region.

The summit will tackle financing Egypt's just green transition in the panel titled "From Risk to Resilience: Financing Egypt's Just Green Transition." Discussions will revolve around innovative strategies, including blended finance and transformative partnerships between donors, financial institutions, and investors. The panel will provide insights into tailored green financing tools, designed to unlock investments in the region and mitigate associated risks.

The "Investing in Green: Egypt's New Competitive Advantage" panel will explore various avenues for green investment, ranging from local initiatives to potential export opportunities. 

In addition to panel discussions, the summit will hold work sessions, covering a wide range of topics, including collaborations between startups and corporations, green company acceleration in Upper Egypt, and the development of green certification standards for small and medium-sized enterprises. 

The summit will also feature exclusive investor-only deal rooms, where leading Egyptian companies will showcase actionable investment opportunities to banks, venture capitalists, private equity investors, and development financial institutions.

Noha El-Sebaie, programme manager for MENA green employability and entrepreneurship programmes at Hivos, expressed the urgency of addressing climate change and unemployment in the MENA region. She emphasized the importance of tapping into the immense potential of green businesses and creating a collaborative green ecosystem. 

El-Sebaie added that Hivos is fully committed to supporting MENA countries in their just and sustainable transition, including initiatives to de-risk investments in green enterprises and foster their positive impact on the region.

Summit sponsors include the Dutch Bank for Entrepreneurial Development and Pathfinder International/USAID WESEP.

The Netherlands foreign ministry, the Challenge Fund for Youth Employment, Impact Europe, and the European Union provide additional support.

The green impact investment track is sponsored by USAID's Business Egypt Programme.

The summit is implemented by New Silk Roads and Changelabs.

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