You are currently viewing For Egyptian Business Leaders, EBRD Establishes a Platform for Climate Governance

For Egyptian Business Leaders, EBRD Establishes a Platform for Climate Governance

The Chapter Zero Egypt initiative is being supported by the Climate Governance Initiative (CGI) and the European Bank for Reconstruction and Development (EBRD) in order to increase corporate and financial institution awareness of and implementation of effective climate governance practices.

The adoption of the World Economic Forum’s (WEF) Principles for Effective Climate Governance is encouraged by CGI’s global network of more than 25 national and regional chapters. CGI wants to provide its members the know-how and abilities they need to make combating climate change a top priority in the boardroom.

The 27th chapter to join the CGI global network is Chapter Zero Egypt. It is also the first of its kind in Africa and the southern and eastern Mediterranean region, and it benefits from the technical assistance of LOBBY EGYPT Communication Advisory and BDO Egypt Consulting.

With the help of this new platform, non-executive directors, senior management business leaders, and policy and technical experts will be able to develop and share their expertise in order to promote low-carbon development, sustainable business practises, and economic growth.

As part of a collaboration with CGI to improve boards’ knowledge of how climate risks could impact their operations in areas that are important to the Bank, the EBRD supports the creation of this new chapter. The EBRD and CGI teamed together in April 2022 to support corporate climate governance. As part of the agreement, non-executive directors will receive training on climate-related risks and their implications for business, enhancing boards’ ability to transition to a net-zero economy.

Tarek El Molla, the Egyptian Minister of Petroleum, Yasmine Fouad, the Egyptian Minister of the Environment, Khalid Hamza, the Head of the EBRD, Julie Baddeley, the Chair of the Governing Board of the Climate Governance Initiative, and others from the development and academic communities attended today’s event.

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