Board members and executives of financial and non-financial corporations from Egypt have announced the launch of Chapter Zero Egypt
The official launch of Chapter Zero Egypt was announced today at a reception which brought together representatives of the private sector, Chairpersons and members of Boards of Directors, senior government officials, the European Bank for Reconstruction and Development (EBRD) and the Climate Governance Initiative. Chapter Zero Egypt becomes the 27th Chapter of the Climate Governance Initiative (the Initiative) global network and the first in the region. Its launch is supported by the European Bank of Reconstruction and Development as part of the Memorandum of Understanding signed between the EBRD and the Initiative in 2022.
The Climate Governance Initiative’s global network promotes the adoption of the Principles for Effective Climate Governance published by the World Economic Forum (the Forum). Established in 2019, this Initiative aims to equip its members with skills and knowledge to make addressing climate change a boardroom priority.
The Chairman of Chapter Zero Egypt, Eng. Ahmed El Sewedy, President and CEO of El Sewedy Electric, said that the Chapter is now officially launched and aims to educate company boards and executives of financial and non-financial corporations on climate governance and climate change opportunities and challenges. El Sewedy announced the launch of the website www.chapterzeroegypt.org and expressed appreciation to the EBRD, and to the Climate Governance Initiative , for their continuous support to establish the Association in a bid to mobilize boards of directors around the world to address climate change in their businesses by developing and supporting national associations that equip their members with the skills and knowledge needed to make climate a boardroom priority building on the Forum’s Principles for Effective Climate Governance.
Eng. El Sewedy stressed the need to unite efforts between companies, members of civil society, and stakeholders, to reduce the impact of climate change and adopt policies that ensure sustainable development, promote growth and competitiveness, especially since Egypt has signed many international agreements and implemented the United Nations Framework Convention on Climate Change, as well as ratifying the Kyoto Protocol and signing the Paris Climate Agreement.
Eng. Ahmed El Sewedy was elected as Chairman of the first Board of Directors of the Association, following a Founders’ meeting that included Chairpersons and CEOs of Egyptian companies. Board members include, Eng. Tarek El-Gamal, Chairman of the Board of Directors of Redcon Contracting Company, Vice President, Mr. Helmy Abuleish, Chairman of the Board of Directors of SEKEM Group Holding, Secretary-General and Dr. Shady Mourad, Deputy CEO of Pharco Pharmaceuticals, Treasurer.
This endeavor is part of the EBRD’s Green Economy Transition approach, which commissioned BDO Egypt Consulting and LOBBY EGYPT Communication Advisory to set up Chapter Zero Egypt to serve as a platform to raise awareness and allow for the exchange of expertise between Board Members, to prioritize climate governance and wider climate change issues for successful and sustainable enterprise and economic growth, with the aim of facilitating the climate transition.
Ministers attending the launch event included the Minister of Foreign Affairs Sameh Shoukri, Minister of Pertroleum and Mineral Resources Tarek El Molla, Minister of Planning & Economic Development Hala El Said and the Minister of Environment Yasmine Fouad.
The Director of EBRD Egypt, Khaled Hamza noted that Corporate Climate governance is a key element to help address climate change within organisations in a systemic and holistic way and to prepare them for new global market conditions. “We are pleased to have supported the launch of Chapter Zero Egypt, which is the first in Africa and the SEMED region, and look forward to further cooperation with this important initiative.”
For her part, the Chairman of the Climate Governance Initiative Julie Baddeley, said “We’re delighted to welcome Chapter Zero Egypt to the Climate Governance Initiative’s global network. With its core mission to accelerate climate action in Egyptian organisations, driven by a founding group of passionate patron chairs and committee members, Chapter Zero Egypt is primed to deliver real impact for its members and the stakeholders their organisations touch. We look forward to working with the Chapter on this vital mission.”
