BEBA hosted Dr. Mahmoud Mohieldin, Egypt’s Climate Action Champion at COP 27 for an annual iftar Ramadan at the Residence Garden, British Embassy in Cairo on Monday, April 11, 2022. At the beginning Dr, Mahmoud Mohieldin gave his special thanks to Khaled Nosseir, BEBA Chairman and Dr.Maged El Menshawy, Vice Chairman Manapharma. In his discussion, he shed light on the 4F’s crisis that stands for Food, Fuel, financial and fertilizer crisis. Food and Fuel crisis are the main challenges, especially after serious implications that the world is facing right now after Russia- Ukraine war.

Now, the world is facing a shortage of supply, as a result, an increase in food prices and other commodity prices including fuel. He stated “we need to find solutions and ways to overcome the new challenges that the world is facing”. On a global level, Egypt will discuss these challenges, identity the optimal solutions and settle the appropriate climate agendas for the world to follow, there at COP 27 in Sharm El Sheikh. In the past, scientists ensured that by the year year 2050 or the World Year 2099, the world will start encounter climate crisis, but now, in the real time, the world is on the verge of a catastrophe due to the impact of a climate change. As a proof, Dr. Mahomud added that ‘’the qualified farmers in a certain village cannot cultivate some certain crops because of some changes that we cannot really explain, while those who are living in coastal areas are very much vulnerable to shocks and waves. We see in in floods, deterioration of nature around the world, the fires in forests. That’s basically been there, but had been intensified.’’

It was expected to reduce emissions by 45% by 2030, however, now were expecting to exceed the emissions by 60%. In terms of actions towards reducing the emissions, the world responded by integrating technology into climate projects, sharing knowledge between countries, attracting investors to invest in climate projects. A demand for building wind farms is getting high as an alternative to existing energy, which also remain as an attractive opportunity for investors to invest and global target to reach to net zero emissions.

As he continues, “domestic private sectors, private sectors, and foreign investors have to showcase their willingness to be more powerful right there at Sharm El-Sheikh’’. Surely, the solutions will be provided from the private sector and I figured out that the golden opportunities at global level, regional level and national level when we open up the business widely for those who can managers able to handle matters better than the bureaucrats who claim that they can solve all the problems.

Furthermore, he ended his speech, saying that the forthcoming business mission or the trade mission is the best opportunity for the private sectors to convince, or promote Egypt to the UK investors as one of the best countries in attracting investment property.