I know what green economy means, and why is Egypt moving towards it?

The green economy represents a lifeline for countries to face the great challenges facing the environment. Among those countries that attach great importance to the green economy, Egypt is implementing hundreds of projects in this field.

The concept of green economy is an environmentally friendly economy that reduces carbon and saves energy, or car exhaust and harmful emissions, which have a negative impact on the climate, the atmosphere and the problems that occur in the world from high temperatures and climate change, and it includes 6 diverse sectors that contribute in a way. Great in rationalizing consumption and preserving natural resources for future generations, while making use of new and renewable energy, in various walks of life..

The green economy helps 100 million Egyptians achieve a better life, in accordance with international standards and sustainable development goals, and preserves the environment by reducing emissions and limiting traditional fuels..

The green economy has 6 different sectors, including green buildings and renewable energy, with all that is in it, whether solar energy, wind energy, sustainable transport, water management, land management and waste management, pointing out that the green economy is used in emerging industries and depends on renewable energy, “wind and solar energy.” And others besides helping to save energy in green buildings in order to reach the highest efficiency.

Also, the green economy promotes the reduction of poverty and unemployment, creates a clean environment, and prevents air pollution and its negative effects on citizens so as not to increase the cost of health care and the high costs of hospitals..

It also enhances human security by eliminating problems related to land disputes and access to contaminated food, improves the quality of natural resources, reduces pollution and protects the atmosphere in general.

Green bonds are linked to the green economy, through financing its projects, as Egypt issued the first green bonds in the region with a value of $ 750 million in September 2020, and one of three green bond issues in the Middle East and North Africa region during the past year, according to the global Standard & Poor’s Foundation. But many other issues that were planned to be released were stopped due to the “Covid-19” pandemic.

According to the Ministry of Planning, Egypt is implementing many green projects, as Egypt began to shift towards a green economy in implementation of Egypt’s 2030 vision, and the government has implemented many green projects to preserve the environment that depend on clean energy and renewable energy.

The most important and largest projects are being implemented in the electricity, energy, transportation, water and sanitation sectors in order to achieve the 2030 vision. Work is underway to achieve 30% of green projects, and the percentage rises to 50% in the next three years.

It is intended to increase public investments directed to green projects, from 15% in the current year (20/2021) plan to 30% in the fiscal year plan. (21/2022).

The number of green projects included in the fiscal year 20/2021 plan is about 691 projects with a total cost of about 447.3 billion pounds, according to the Ministry of Planning.

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