The 27th session of the Conference of the Parties (COP27) will take place in Sharm El-Sheikh, Egypt.
Alongside the COP27, The British Egyptian Business Association (BEBA) and The Egyptian British Chamber of Commerce (EBCC) are organising a Business Forum, supported by DIT and The Egyptian Embassy in London (As well as welcoming a business mission from BCC and Glasgow chamber of Commerce) to Sharm ElSheikh specifically to create opportunities for British and Egyptian businesses and develop leads and partnerships with international companies
The Two-day business forum will aim to raise awareness of the benefits of the circular economy and how products can be made to be used more than one lifetime. The conference will feature presentations and discussions with World leaders in business applications of renewables and the adoption of sustainable energy policies.
Networking opportunities will be prioritized in the schedule.
Egypt has great sustainable natural resources with a vast coastline and associated wind as well as long periods of sunshine on great open spaces. We will aim at exploring on how Egypt will be capitalising as the host country of COP27 and playing a leading role globally in sustainable and circular initiatives
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As the countdown to COP27 begins, it’s time to review BEBA’s highly successful 2022 Business Mission to the UK, entitled ‘The Road to COP27: Bridging the Implementation and Financing Gap’.
This was the seventh BEBA mission to the UK, with four Egyptian Ministers and four government officials participating in-person along with the Egyptian and British ambassadors. In addition, three Ministers contributed to the mission by recording videos that were played in different sessions. More than 70 delegates from Egypt offered their expertise—from business sectors as diverse as renewable energy, banking and pharmaceuticals.
It was a busy mission with a host of topics on the agenda, with climate policy a signature theme. The event comes in the approach to COP27, to be hosted in the Red Sea resort of Sharm El-Sheikh in November.
Subjects discussed during the multi-day mission included the significant environmental, infrastructure and healthcare-related improvements that Egypt has seen in recent years. Also on the docket was the considerable scope for international partnership that these present, both now and moving forward.
Notably, the event highlighted how Egypt is working hard to tackle the global climate emergency in a sustainable and fiscally responsible way.
In preparing for the United Nations Climate Change Conference, COP27 in Sharm El-Sheikh, Egypt will inherit certain key priorities from Britain’s COP26 presidency, including:
This year’s BEBA sessions dealt with many of these issues head-on. The sessions demonstrated how Egypt and Britain are already working together on building future-proof finance and sustainable green infrastructure projects—all in the spirit of Egypt’s Sustainable Development Strategy, known as Egypt Vision 2030.
Speaking to the press during the mission, HE Dr. Rania Al-Mashat, Egypt’s Minister for International Cooperation said that, for her, the priority for COP27 is “moving from pledges to implementation”.
Implementation is, indeed, everything. BEBA’s opening day dealt directly with the demonstrable steps Egypt is taking to implement climate-focussed business strategies, with an emphasis on green financing.This was a two-part event, hosted by PwC at its UK offices in central London, looking first at climate implementation. Virtual contributions were made, by video, from HE Dr. Yasmine Fouad, Egypt’s Minister of Environment and HE Sameh Shoukry, Egyptian Minister for Foreign Affairs.
There was much to discuss. Minister Sameh Shoukry highlighted the significance of COP27, following the successful outcome of COP26 with the near completion of the Paris Agreement, the adoption of the Glasgow Climate Pact, and the broad range of pledges from governments and stakeholders. Minister Shoukry reiterated the importance that now is the time for action, to move from text to actual implementation on the ground, and that COP27 will focus on actual implementation.
HE Dr. Yasmine Fouad, Minister of Environment and the Ministerial Coordinator and Envoy of COP27, stressed that COP27 will be the largest event that Egypt has hosted. She insisted on the importance of including different segments of society to participate in the global fight against climate change.
HE Dr. Rania Al-Mashat, Egyptian Minister of International Cooperation, stated that as the world aligns its efforts to build back from the COVID-19 pandemic, climate change has been pushed to the forefront of the international agenda.
Indeed, Egypt is already taking on the challenge of climate implementation with urgency. In 2015, the country launched its ‘feed-in tariff’ for renewable energy, which led to the development of the Benban Solar Park—one of the world’s largest solar power installations, created through a multi-stakeholder public/private partnership including EBRD and IFC, among other international financial institutions.
Egypt is also home to Gabel El Zeit Wind Farm Complex, the largest wind farm in the MENA region. The complex features the West Bakr Wind project, developed and built by clean energy company Lekela. All of this takes advantage of what Lekela calls Egypt’s “world-class wind resource”.Currently, Egypt generates approximately 6GW of renewable energy, one third of which has been developed through private investment. This constitutes a major contribution to Egypt’s goal of generating 42% of its power through renewables by 2030.
The second part of the PwC-hosted event threw the spotlight onto the green finance innovations Egypt has put into place to help deliver on its climate commitments. This event featured Special Guest Speaker HE Dr. Rania A. Al-Mashat, Minister of International Cooperation.Again, there was much already on the table for discussion. For instance, in 2020 Egypt led the way in the issuance of its Sovereign Green Bonds, standing as the first country in the MENA region to undertake such an initiative. These bonds offer similar returns to traditional investments, but are, as the World Bank describes them, dedicated to connecting “environmental projects with capital markets”.Notably, this strategy was brought about by close collaboration between the Egyptian Ministry of Finance (MoF) and Ministry of the Environment (MoE), which worked together to create a sustainable framework for the bonds’ successful deployment.
The talk of the town are Egypt’s fiscal policies and measures taken to curtail the implications of the economic crisis. The past few years have seen global events that have caused economic turmoil, starting with the USA-China trade war, followed by the COVID-19 pandemic, and the current Russia-Ukraine war. The Egyptian economy did not collapse during the pandemic, however, as it did not take extreme measures and enter into a complete lockdown, and that’s why the country did not have a huge decline in its GDP growth rates.In conversation with Rami Aboul Naga, Deputy Governor, Central Bank of Egypt hosted by the National Bank of Egypt (UK)
The talk of the town are Egypt’s fiscal policies and measures taken to curtail the implications of the economic crisis. The past few years have seen global events that have caused economic turmoil, starting with the USA-China trade war, followed by the COVID-19 pandemic, and the current Russia-Ukraine war. The Egyptian economy did not collapse during the pandemic, however, as it did not take extreme measures and enter into a complete lockdown, and that’s why the country did not have a huge decline in its GDP growth rates.
This seminar was, appropriately, delivered in partnership with British International Investment and it dealt with positive ways of leveraging partnerships to drive adaptation and resilience in Egypt.A panel of experts discussed harnessing international partnerships that can result in the creation of clean, green and sustainable infrastructure.This is nothing new to Egypt, where finding ways to make finance greener has been central to its planning for some time. For instance, The Sovereign Fund of Egypt (TSFE) works to encourage public/private partnerships, with the focus on sustainable development.
This is good news for foreign direct investors. A green Egyptian economy creates an even more diverse array of investment opportunities for businesses looking to expand into the Egyptian market and, beyond that, into the wider Africa continent.
The seminar closed with a recorded video by HE Dr. Hala El Said, Egypt’s Minister of Planning & Economic Development in which she stated that according to reports from the Intergovernmental Panel on Climate Change (IPCC) the warming in Egypt, Africa, and the MENA region are projected to be higher than the global average.
In partnership with the Arab Bankers Association, this session directly addressed issues around Egyptian banking and finance. The keynote speaker was HE Dr. Mohamed Maait, Egypt’s Minister of Finance.Panellists from the government joined private sector business leaders to explore the ongoing transformation in Egypt’s economy—through its robust support of green finance and commitment to significant public/private partnerships. The emphasis remained firmly on the impact climate issues can have on the banking sector and fiscal policies.
Egypt is showing, in the countdown to COP27, that the countries of MENA can build mutually beneficial partnerships that drive smartly financed projects which are economically and environmentally sustainable at the same time.
Egypt takes seriously its role in helping to address the threat climate change presents to the wider African continent. The IPCC’s most recent assessment illustrates, in graphic detail, how the climate emergency isn’t some abstract concept for an ill-defined future. In Africa, it is a present-day reality.
It’s perhaps no surprise then that Egypt’s Vision 2030 strategy closely aligns with the African Union’s Agenda 2063. It is important to Egypt’s future — as well as to its business partners — to take a lead in greening Africa.
This next session on Egypt’s innovations in infrastructure explored what climate-driven infrastructure development means in practice. It was presented in partnership with EBRD and speakers included HE Yehia Zaki, Chairman of the Suez Canal Economic Zone and Ayman Soliman CEO of the Sovereign Fund of Egypt.Projects are turning around fast. For instance, faced with the challenge of water scarcity, Egypt is looking to private investment to help build an infrastructure of solar-powered desalination plants.
Meanwhile, Egypt’s population is growing exponentially— from 68 million in 2000 to more than 100 million today. As that population becomes increasingly urban, this throws up a range of challenges which, in turn, provide significant private sector investment opportunities in key infrastructure projects. One such infrastructure project is already on the rails, quite literally—namely, the Cairo monorail project. Moreover, Egypt is implementing an infrastructure plan which is staggering in its ambition: the decision to build 45 new cities. These cities—like the already completed 6th of October City – will be designed with a view to signing up for EBRD’s Green Cities programme, ensuring that they will provide new homes and new employment for Egypt’s growing population, in a sustainable way.
Of course, a growing population also brings with it a need for healthcare, which Egypt is addressing proactively, as was demonstrated in the next session.
The closing session of BEBA’s business mission was hosted by the Arab-British Chamber of Commerce and dealt with Egypt’s drive towards Universal Healthcare Coverage. The panel of experts and dignitaries was headed by HE Dr. Khaled Abdel Ghaffar, Egypt’s Minister of Health.
Part of Egypt’s Vision 2030 commitment is to develop universal healthcare for its growing population. This will offer up various opportunities for inward investment across services and expertise, as Egypt will need to expand both medical facilities and medical practitioners as well as medical devices and pharmaceutical supplies.
Egypt is already well positioned to take a leadership role in the MENA region, as a dominant manufacturer of pharmaceuticals. Indeed, the Ministry of Health and Population (MoHP) has stated that around 80% of Egypt’s pharmaceutical demands are already produced locally. It is just a short step to becoming a major exporter — potentially opening-up the entire African continent to Egypt’s business partners.
Major General Dr. Bahaa El-Din Zidan, Chairman of the Egyptian Unified Procurement Authority, stressed the importance of Egypt hosting the first edition of Africa Health ExCon, which aims at advancing Africa’s healthcare investments.
The African nations understand that, when it comes to tackling climate change, the clock is running. This isn’t something to think about another day — it’s something to act on today.Egypt knows this and has moved past the pledges to the active implementation of the commitments it (and 195 other parties) made in The Paris Agreement at COP21, by taking significant strides in planning, financing and delivering on a green economy and green infrastructure in a sustainable future-focused way.
As Egypt plans to demonstrate at COP27, such promises and plans, put properly and sustainably into action, are the way forward for all nations already facing the stark reality of the climate emergency. In turn, this will generate continued and material opportunities for foreign direct investment. The conditions for these investment opportunities were thoroughly explored during BEBA’s seventh annual business mission to the UK.
Credit where it’s due. The 2022 BEBA Mission to London was brought to you in association with these generous sponsors:
Knowledge Partner: N Gage Consulting
22 May 2022, CAIRO – A total of seven Egyptian ministers took part in the largest and most successful business mission to the United Kingdom that the British Egyptian Business Association (BEBA) has organised.
“Road to COP27: Bridging the Implementation and Financial Gap” is the seventh of a series of BEBA missions to the UK, in collaboration with the Egyptian Embassy in the UK and the Department for International Trade (DIT).
At this latest event, four Egyptian ministers, including Minister of International Cooperation H.E Dr Rania Al-Mashat, Minister of Electricity and Renewable Energy H.E Dr Mohamed Shaker, Minister of Finance H.E Dr Mohamed Maait and Acting Minister of Health H.E Dr Khaled Abdelghaffar travelled to London, while three other ministers gave recorded messages; H.E. Sameh Shoukry, Minister of Foreign Affairs and COP27 President Designate, and H.E. Dr. Yasmine Fouad, Minister of Environment and COP27 Ministerial Coordinator & Envoy and H.E. Dr. Hala El Said, Minister of Panning & Economic Development. Each minister discussed the path forward for Egypt’s green transformation and shed light on the various green investment opportunities Egypt’s private sector has to offer.
The private sector was itself heavily engaged in the mission, with over 70 delegates representing their respective organisations across a range of sectors. These spanned from the renewable energy industry, with firms such as Lekela and Globeleq attending, to banking and finance, with such organisations as HSBC in attendance, among others.
BEBA’s mission kicked off with a focus on climate implementation, which included an opening speech from Eng. Khaled Nosseir, BEBA Chairman, H.E Sherif Kamel, the Egyptian Ambassador to the UK, and H.E Gareth Bayley, the British Ambassador to Egypt. It was inaugurated by a recorded video by H.E. Sameh Shoukry, Minister of Foreign Affairs and COP27 President Designate, followed by a recorded speech by H.E. Dr. Yasmine Fouad, Minister of Environment and COP27 Ministerial Coordinator & Envoy, in which they talked about UK-Egypt cooperation on global climate action ahead of COP27 in Sharm El-Sheikh this November.
Climate financing was also on the agenda, with two panel discussions hosted by PwC. Distinguished guests included H.E Dr Al-Mashat, Minister of International Cooperation, Eng. Yehia Zaki, Chairman of the Suez Economic Zone, Mr. Ayman Soliman, CEO at the Sovereign Fund Egypt, and UK business representatives.
“The UK trade mission is of great importance in light of the Egyptian-British strategic relations and the two countries’ presidency of the previous and future editions of the United Nations Climate Change Conference”, Dr Mashat said. “It aimed to strengthen economic, trade and investment relations between Egypt and the UK and lead them towards more prospects of cooperation to achieve sustainable development and promote common interests, in addition to stimulating joint action between the two countries to advance climate action and implement international pledges on climate finance.”
During the mission, H.E Dr. Mohamed Maait, Minister of Finance, had the opportunity to meet with various banking and financial institutions as well as investors to discuss how scaling climate financing could help mobilise resources in Egypt and developing countries. He also discussed the importance of diversifying the financial resources that support green projects, through green bonds for example. The event was hosted by the Egyptian Cultural & Educational Bureau in London.
Clean energy was widely discussed during the mission. Minister of Electricity and Renewable Energy Dr Mohamed Shaker met with 16 British companies one-on-one to discuss bilateral cooperation and investment opportunities in new, renewable and low-carbon energy systems –green hydrogen projects – as well as electricity transmission and distribution to the private sector. He gave a spotlight presentation on Egypt’s infrastructure and renewable energy potential as well as the Suez Canal Economic Zone at EBRD’s premises in London.
Dr Shaker took the opportunity to visit the Translational Energy Research Centre at Sheffield University, which aims to find and test green practical solutions to critical energy challenges. He also visited the ITM Power Company to see green hydrogen electrolysers at work. During the visit, Minister Shaker expressed optimism about future partnerships with the UK on green hydrogen production.
The mission ended with a healthcare seminar that included a keynote address by Dr Abdelghaffar, in which he talked about the business environment for healthcare in Egypt, including the framework for medical insurance.
“BEBA’s high-profile mission to the UK in preparation for COP27 generated extensive and serious discussions, paving the way for a host of green investments into Egypt”, said Chairman of BEBA, Eng. Khaled Nosseir.
He continued: “Thanks to our successful cooperation with the government, our partners and all stakeholders, BEBA’s mission presented the New Egypt to many UK-based international investors and businesses. This served our aim of fostering and furthering British-Egyptian cooperation while attracting foreign direct investment (FDI) into Egypt.”
Egyptian Ambassador to the UK, Sherif Kamel said: “The British Egyptian Business Association (BEBA) mission provided a great opportunity to enhance economic cooperation in all its forms between Egypt and the UK, and to maximise participation between the private sectors of both countries. The participation of a number of ministers and senior Egyptian officials, and the meetings they held had a great impact in presenting what Egypt has achieved at the economic and social development level during the past years, as well as the plans and programs of the Egyptian government during the coming period in many areas, most notably clean energy, financing, infrastructure and health services, medicine and the Suez Canal Economic Zone.
He continued: “The Climate Change Summit, which Egypt will host in Sharm El-Sheikh in November, represented a major focus of the mission’s discussions, especially since the Egyptian presidency of the conference follows the British presidency since the Glasgow conference last year. The two sides will work during the coming period to build on the discussions that took place during the mission to deepen and expand the existing investment and trade cooperation between both countries.”
British Ambassador to Egypt, Gareth Bayley, said: “We’ve just witnessed a highly successful and productive week for both Egypt and the UK. Not only was the Grand Mufti visiting London, delivering a landmark speech to the British parliament, but seven Egyptian ministers along with a huge business delegation participated in the mission, many of them taking part in discussions with UK ministers and investors to advance climate-driven policies ahead of COP27.”
“These discussions will help pave the way for the British private sector to deliver an array of green investments in Egypt’s infrastructure and renewable energy sectors, thereby strengthening our green partnership. I am happy to say that these investments will not only create new jobs for millions of Egyptians, but will achieve sustainable, inclusive growth and green prosperity for both the UK and Egypt.”
Members of the mission, which took place from 17-20 May, said that the mission was successful in its objective of fostering Egypt-UK trade relations, showcasing economic incentives that promote green transformation in Egypt, providing a platform for dialogue and cultivating a deeper sense of understanding on mutually beneficial topics.
12 May 2022, CAIRO – In preparation for COP27 and as part of BEBA’s role to support Egypt’s sustainable development, the British Egyptian Business Association (BEBA) In collaboration with the UK’s Department for International Trade (DIT) is organizing its seventh annual business mission to the UK, entitled Road to COP27: Bridging the Implementation and Financial Gap and taking place May 17-20, 2022.
During the four-day mission, around 5 Egyptian Ministers and 70 business leaders will gather in London to explore ways of advancing climate-driven policies through UK-Egyptian cooperation and investment in strategic sectors including finance (green finance and bonds), healthcare, infrastructure, renewable energy (green hydrogen), and opportunities in the Suez Canal Economic Zone. They will be meeting with various UK ministers and investors to discuss opportunities for private sector investment in greenprojects in Egypt ahead of COP27. Moreover, there will be plentiful opportunities for networking and B2B engagement across the four days.
This mission is intended to foster Egypt-UK trade relations, showcase economic incentives that promote green transformation in Egypt, provide a platform for dialogue and cultivate a deeper sense of understanding on mutually beneficial topics.
British Ambassador to Egypt Gareth Bayley said: “I am proud to be the first British Ambassador to Egypt to accompany one of the biggest ministerial delegations to the UK alongside the British Egyptian Business Association to discuss trade and investment opportunities for UK companies in Egypt,including in efforts to mitigate the effects of climate change. Egypt is taking great steps ahead of its COP27 presidency in November to help create a greener, more sustainable economy not just for itself but for the entire region, leading by example. This week, marking six months to COP27, our COP26 President Mr Alok Sharma and COP27 President Designate Egyptian Foreign Minister Sameh Shoukry are co-chairing a Climate Ministerial Meeting in Copenhagen to focus on the implementation of key commitments in our collective response to climate change. The UK and Egypt will continue to work together to enable a cleaner and safer environment for future generations to come.”
Chairman of BEBA, Eng. Khaled Nosseir said: “BEBA is proud to organize the largest business mission ever conducted in terms of Ministers, government officials and business leaders from both the UK and Egyptian sides. We are excited about the extensive program with seminars, meetings, events &roundtables as well as the door-knock program. We strive to help businesses foster Egypt-UK relations.”
Expected to accompany the mission will be Minister of Finance Dr Mohamed Maait, Minister of International Cooperation Dr Rania Al Mashat, Minister of Planning and Economic Development Dr Hala El Said, Acting Minister of Health Dr Khaled Abdelghaffar and Minister of Electricity and RenewableEnergy Dr Mohamed Shaker, as well as Chairman of the Suez Canal Economic Zone Engineer Yehia Zaki, Deputy Governor of the Central Bank of Egypt Mr Rami Aboul Naga, Chairman of the Unified Procurement Authority General Dr Bahaa Eldin Zidan and many other senior policymakers and businessrepresentatives.
Notes to Editors:
Expect to hear frequent talk about green bonds in the run-up to COP27, the UN’s annual Climate Change Conference hosted this year by Egypt in Sharm El-Sheikh on behalf of the African nations.
Globally, business leaders and policymakers are increasingly seeking opportunities for green finance — including green bonds.
One keynote event paving the way for COP27 is BEBA’s UK-Egyptian Business Mission. During this annual Mission to London, the role that green bonds — and green financing more generally — play in supporting climate-driven policy in Egypt and beyond will be high on the agenda.
Green bonds — designed to finance climate-focused projects while returning fixed income to investors — are a critical instrument for connecting “environmental projects with capital markets”, according to the World Bank. These bonds offer investors opportunities to help address the climate emergency while gaining similar returns to those they may expect from traditional investments.
For its part, Egypt played a pioneering role in autumn 2020, as the first country in the Middle East and North Africa (MENA) to issue sovereign green bonds.
The issuance was well received by the markets, with the Egyptian bond entering the Sustainable Bond Market on the London Stock Exchange.
The bond issuance itself was five times oversubscribed, which allowed the Egyptian government to raise its initial offering from 500 million USD to 750 million USD.
Moreover, the venture generated close collaboration between the Egyptian Ministry of Finance (MoF) and Ministry of the Environment (MoE). Together, the ministries devised a sustainable framework for the successful deployment of the bond.
HSBC played a key role as a joint green structuring adviser, joint lead manager and bookrunner, supporting each step of the process, from finalising the bond’s green framework to coordinating the syndication process and filling the order book.
This landmark transaction marked Egypt’s commitment to the global sustainability agenda and demonstrated HSBC’s role as the leading bank in sustainable finance, bringing our global expertise to bear in support of Egypt’s sustainability agenda.
This success set the stage for further issuances of corporate green bonds, the appetite for which extends far beyond Egypt. Demand for sustainable financing is growing internationally: according to data from Climate Bonds, the global volume of sustainable debt issued in 2021 surpassed 1 trillion USD annually for the first time.
Egypt, nonetheless, remains highly focused on the deployment of green bonds inside its own country and across Africa.
As one of Africa’s most populous countries, Egypt is a key player in helping address the significant threat of climate change to the continent. This includes ensuring the necessary financing is in place to fund the climate-driven development that is so urgently required.
Indeed, the dangers of climate change to Africa are alarming. The IPCC’s most recent assessment of climate change’s impacts on Africa could hardly be clearer:
Egypt recognises the pivotal role of green financing in supporting sustainable development projects across the African continent. Since 2015, the Egyptian Government has been busily advancing green finance initiatives, with the entire continent in mind. In this spirit of cooperation, Egypt developed its national Sustainable Development Strategy (SDS), known as Egypt Vision 2030, in close alignment with the UN’s own 2030-focused Agenda for Sustainable Development and the African Union’s Agenda 2063.
In pushing for more international collaboration around green financing, Egypt is not alone. The Glasgow Climate Pact that arose out of COP26 called for a doubling of finance to support developing countries in adapting to the impacts of climate change.
Green financing does not exist in a financial vacuum — it needs critical infrastructure projects to invest in.
Faced with the threat of water scarcity and a rapidly growing population, Egypt is mobilising substantial private sector investments to develop its programme of solar-powered desalination plants. This will transform the future of water management in Egypt.
Similarly, an impressive investment programme into green logistics is underway. From renewable energy generation to the adoption of clean energy vehicles, Egyptian policymakers are actively encouraging private sector investment into climate-driven projects.
Mobilising finance is key to the success of green projects that will create future-proof jobs, drive sustainable growth, and benefit both UK and Egyptian businesses. The question is how to strengthen these partnerships to identify climate-focused investment opportunities that will bolster Egypt’s adaptation to climate change.
Join the UK-Egyptian Business Mission in London from May 17-20, hear first-hand from UK and Egyptian ministers and industry leaders and explore what green financing looks like in practice.
One session, entitled ‘Innovative Financing Key to Green Economy’, on Wednesday, May 18th, deals with the innovative nature of green bonds and other clean finance initiatives. Scheduled panellists include HE Dr. Rania Al Mashat, Egypt’s Minister of International Cooperation, Chris Antonopoulos, CEO of renewable power generation company Lekela and Sherine Shohdy, Cairo-based Coverage Director for British International Investment.
Or join HE Mohamed Maait, Egyptian Minister of Finance, Rami Abul Naga, the Deputy Governor of the Central Bank of Egypt, Sherif Samy, the Non-Executive Chairman of the Commercial International Bank (CIB) and myself on Thursday, May 19th as we address the issue of finance and climate change in support of developing countries.
At BEBA’s UK Business Mission, get the lowdown on economic incentives — including green bonds — to promote green transformation in Egypt and the wider African continent. Learn more about BEBA and the UK Business Mission on the dedicated Mission page, and check out the event programme for the full list of sessions.
This November, Egypt will host COP27—the United Nation’s annual Climate Change Conference—on behalf of the African nations. This flagship event, taking place in the Red Sea resort of Sharm El-Sheikh, will serve as a rallying cry to an international community facing the mounting threat of climate change.At the same time, COP27 represents a critical opportunity for Egypt to promote its domestic agenda on climate action, as enshrined in its ambitious Vision 2030 initiative. Vision 2030 places sustainable development—from green financing to renewable energy—at its heart, working within the framework of the UN Sustainable Development Goals (SDGs) and the commitments of the international community arising from the 2015 Paris Agreement.In preparation for COP27, the British Egyptian Business Association (BEBA) is organising its annual business mission to the UK, taking place May 17-20, 2022. This mission is intended to foster Egypt-UK trade relations by providing a platform for dialogue and to cultivate a deeper sense of understanding on mutually beneficial topics.During the four-day mission, Egyptian Ministers and business leaders will gather in London to explore ways of advancing climate-driven policies through UK-Egyptian cooperation and investment in strategic sectors including Finance (Green Finance and Bonds), Healthcare, Infrastructure, Renewable Energy (Green Hydrogen), and opportunities in the Suez Canal Economic Zone. Moreover, there will be plentiful opportunities for networking and B2B engagement across the four days.
BEBA is a non-governmental, non-profit organisation that serves the interests of the British and Egyptian business community.
For 25 years, BEBA’s mission is to enhance British and Egyptian business relations across a range of industries, for the mutual benefit of both nations.
This year, BEBA has two separate but highly connected goals:
In preparation for November’s conference, BEBA is bringing its annual Business Mission, this year titled Road to COP27: Bridging the Implementation and Financing Gap, to the UK’s capital from May 17-20.The Mission will include a series of events, roundtable sessions and private meetings. It will explore a range of B2B and B2G initiatives designed to encourage additional investment into Egypt, while opening markets across Africa and further strengthening UK-Egyptian relations.
It will also dive deep into the development of Egypt’s Vision 2030 strategy—with its emphasis on driving up social equity, driving down poverty and ensuring strong alignment with the Sustainable Development Goals (SGDs) adopted by all United Nations Member States in 2015.
Back in 1996, BEBA had an initial membership of 100 members. BEBA Members have nowexpanded to more than 800 members, representing a cross-section of leading British andEgyptian corporations and individuals.
BEBA was established in 1996 to act as a catalyst for change by opening dialogue between the government and businesses.
Since that time, BEBA has become the voice of the private sector on issues of importance to its members—such as supporting the empowerment of women in business and its fundraising for worthy causes in education and healthcare.
Meanwhile, it has endeavoured to deepen relations between the UK and Egypt at every level. During President Sisi’s visit to the UK in 2015, BEBA hosted a dinner for the Egyptian President to meet with British business leaders and parliamentarians.
The outbreak of coronavirus in 2020 may have impeded normal operations, but it failed to stop the Mission. Despite the pandemic, BEBA managed to organise two highly successful virtual Business Missions, in a clear indication of the commitment of BEBA’s organising team and board to advancing UK-Egyptian relations. At the same time, Egypt was one of the few countries worldwide that maintained economic growth despite the massive disruption triggered by the pandemic.Priorities for this year’s gathering, the first in-person Mission since 2019, include:
As always, the BEBA Business Mission will be an opportunity for British industry leaders and executives to meet their Egyptian counterparts and network closely with Egyptian policy makers as preparations for COP27 proceed.
“Egypt has made strong progress in recent years encouraging private sector involvement inflagship green energy projects. COP27 will be an excellent opportunity to showcase thatprogress but also address those remaining obstacles to foreign investment. “The reality is that public-private initiatives are essential to the climate-driven transformationof Egyptian infrastructure and, ultimately, to achieving the strategic goals laid out in Egypt’s2030 Vision and by the United Nations in its Sustainable Development Goals.”BEBA Executive Director Nadia Lamloum
“Egypt has made strong progress in recent years encouraging private sector involvement inflagship green energy projects. COP27 will be an excellent opportunity to showcase thatprogress but also address those remaining obstacles to foreign investment.
“The reality is that public-private initiatives are essential to the climate-driven transformationof Egyptian infrastructure and, ultimately, to achieving the strategic goals laid out in Egypt’s2030 Vision and by the United Nations in its Sustainable Development Goals.”
At BEBA’s UK Business Mission expect to hear more about economic incentives to promote green transformation in Egypt. You will also learn about initiatives across the wider African continent designed to support the transition to renewable energy.Delegates can join keynote speakers such as Egypt’s Environment Minister HE Dr. Yasmine Fouad— whose Ministry is leading preparations for COP27—as she explores what climate implementation looks like in practice.
Major topics for discussion during the May UK Mission include:
Innovative Financing for the Green EconomyEmerging markets need outside support in developing climate-friendly projects. But what does this mean for investment? How can green financing initiatives help deliver clean and reliable infrastructure projects with environmental, social and governance (ESG) considerations in mind? What role do innovative financing instruments, such as green bonds, play? And how can we better incentivise private sector investment in these initiatives, following the examples of countries such as India and Bangladesh?
Investment Opportunities in Egyptian HealthcareAs the Egyptian population continues to grow and with targets in place to achieve universal health coverage by 2030 as part of the Sustainable Development Strategy, Egypt has an increasing need for healthcare services and infrastructure. What opportunities for goods, services and training will emerge for UK-Egyptian healthcare companies to service this demand?
Climate ImplementationFor Egypt, the climate change stakes couldn’t be higher. Consider the Mediterranean port city of Alexandria, which stands at risk of catastrophic flooding in the event of sea level rise.
That’s why Egypt is at the vanguard of climate mitigation and adaptation, having embarked on its journey of energy decarbonisation back in 2015, with the introduction of the New Electricity Law and the country’s adoption of the Paris Agreement on Climate Change. Meanwhile, Egypt’s Feed-in Tariff scheme delivered a huge boost for green public / private sector infrastructure projects, engaging with institutional investors around the world. As a result, Egypt today has around 6 GW of installed renewable energy capacity, of which approximately 2 GW has been developed by the private sector.
Additionally, the government is in the process of developing its national hydrogen strategy. This aims to capitalise on the advantages Egypt has for green hydrogen production, namely its geographical location and exceptional wind and solar resources.
Infrastructure & RenewablesLearn about incentives for private sector participation in the business of renewable energy. Take Egypt’s ambitious programme of solar-powered desalination plants, which aims to transform the nation’s water management through substantial investments, or the amazing Benban Solar Park—one of the world’s largest solar complexes.
Similarly, the country is eager to support the development of green logistics, backing innovation in a fast-developing sector driven by private investment in energy efficiency and clean vehicles.
As Egypt pushes hard to advance climate-driven solutions, the forces that make climate change such a potent threat around the globe place Egypt at particular environmental risk.
COP27 in Sharm El-Sheikh, the popular Egyptian resort located in the strategically important Sinai Peninsula, will address these factors in concrete ways. BEBA’s UK-Egyptian Business Mission in May is an important step on the road to November’s signature conference. The opportunities afforded by UK-Egyptian partnerships open up new futures and new marketplaces in an ever-changing post-pandemic, post-Brexit world—one that is truly climate-driven.
Learn more about BEBA and the UK Business Mission on the dedicated Mission page, and check out the event programme for the full list.