Ahmed Kamal Abdel Moneim, Executive Director of Environmental Compliance office and Sustainable Development at the Federation of Egyptian Industries (FEI), said that the participation of FEI’s delegation in COP28 reflects Egypt’s dedication to implementing substantial projects and initiatives for carbon emission reduction in its industrial sector, particularly in cement, fertiliser, iron, and other industries.

In a statement to the Emirates News Agency (WAM), Abdel Moneim explained that the Egyptian delegation will participate in many sessions and workshops to showcase the country’s efforts in the field of renewable energy. He shed light on the procedures relevant to providing financing packages to offer financial and technical support with the aim of reducing carbon emissions.

He added that SMEs soft financing may range from 7 million to 100 million Egyptian pounds, especially those that reduce the carbon footprint, urging Egyptian exporters to comply with the new European Union’s Carbon Border Adjustment
Mechanism (CBAM).

Source: Emirates News Agency