Dr. Mohamed Farid Saleh, Egypt's Minister of Investment and Foreign Trade, emphasized that climate finance is no longer just an environmental commitment. Instead, it has become a top-tier competitive and economic issue, especially with the rapid global shift towards a green economy. This aligns perfectly with Egypt's vision to boost its business environment's competitiveness, making it more appealing for climate investments and funding. It also helps prepare Egyptian exports to access more global markets, especially considering carbon border mechanisms. This announcement came during his opening speech at the Climate Finance Accelerator (CFA) program conference. This program is a fantastic collaboration between the British Embassy in Cairo and Flat6Labs. The event saw the attendance of Dr. Rachel Kyte, the UK Special Representative for Climate Affairs, and Ms. Catherine Carr, Deputy Head of the British Mission in Cairo, alongside a selection of investment experts, international partners, and startup founders from various sectors that align with climate support requirements. The Minister began his speech by noting that Egypt and the United Kingdom are working closely to strengthen their strategic partnership, driving investment in the green economy. This reflects their deep historical and economic ties, with trade volume reaching approximately £2.8 billion during 2025. Of this, £1.5 billion were Egyptian exports, compared to £1.3 billion in British exports. He also confirmed that the UK is the second-largest foreign investor in the Egyptian market. Regarding climate finance, Dr. Farid stressed the importance of integrating green investments and climate funding into the government's annual plan. This will help maximize the benefits from investment opportunities linked to the transition towards a low-carbon economy. In a related context, the Minister revealed ongoing consultations to support Egyptian exports' access to global markets, particularly in light of carbon border mechanisms. He clarified that preparing Egyptian industry to comply with these standards is a fundamental guarantee for maintaining market shares and increasing export capacity. He explained that Egypt's vision aims to increase the contribution of renewable energy to the electricity mix by 2030. He affirmed that achieving this goal requires integrated efforts from various national parties and enhancing human capabilities, which will solidify Egypt's position in global carbon markets. The Minister also highlighted the importance of developing regulatory and oversight frameworks that keep pace with the nature of climate finance. He emphasized that an effective system must accommodate the diversity of financial tools and varying institutional capacities, while applying precise oversight methodologies to ensure climate commitments are implemented and translated into tangible economic results that benefit companies and citizens. Concluding his speech, the Minister praised the outcomes of the Climate Finance Accelerator (CFA) program. He sees it as a successful model for international cooperation in supporting the green transition by empowering climate projects and transforming them into fundable investment opportunities. The CFA program is an international initiative funded by the British government, designed to support developing countries, including Egypt, in accelerating their transition towards a low-carbon economy. It provides a comprehensive package of technical and financial support, including developing financial models, building capacities, and enhancing alignment with international standards for sustainability and environmental, social, and governance (ESG) practices.
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