Dr. Mostafa Madbouly, Prime Minister of Egypt, held a meeting with a number of ministers and officials to discuss the mechanism for amending carbon limits to enhance Egyptian competitiveness in the field of exports.
Counselor Mohamed El-Homosany, the official spokesman for the Presidency of the Council of Ministers, stated that the meeting discussed the available alternatives to deal with the obligations that will result from the start of work on this mechanism.
He added that it was emphasized during the meeting that Egypt aims to expand green investments by about 40% and 50% as green investments of the total investments in the state plan for the years 2024 and 2025, respectively.
He said: Egyptian efforts in this framework began before the “COP27” climate conference, which was held in Sharm El-Sheikh, then the “COP28” conference, which was held in the Emirates, and will be completed at the “COP29” conference scheduled to be held during the coming period, and the 2050 climate strategy was issued, and the National Committee for Environmental and Climate Policies was formed, which aims to take many measures and launch initiatives to reduce carbon in Egyptian sectors; To enhance environmental sustainability practices.
Counselor Mohamed El-Homsany pointed out that the meeting witnessed a review of the positive opportunities that can be benefited from with the start of implementing the mechanism, through establishing green hydrogen and ammonia factories in the Suez Canal Economic Zone in Egypt, in cooperation with many countries, and expanding the use of green hydrogen and ammonia in industrial technologies, which contributes to reducing greenhouse emissions in the production of iron, steel, fertilizers and chemicals. The meeting was attended by Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, Engineer Mahmoud Esmat, Minister of Electricity and Renewable Energy, Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade, Ambassador Wael Abu El-Majd, Assistant Minister of Foreign Affairs for Environment and Climate Change Affairs, Dr. Khaled Sofi, Chairman of the Egyptian Organization for Standardization and Quality, and a number of officials.
