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The German University Discusses Climate Finance and Sustainability in Support for the Upcoming Climate Conference

In Academic
Wednesday, March 9, 2022

The GUC’s Faculty of Management Technology organized a conference entitled “Green Finance and Climate Change Conference COP 27 for Economic Development” in support of the UN Climate Change Conference 2022 (UNFCCC COP 27) hosted by Egypt in Sharm El-Sheikh in November 2022.”

 

The conference’s sessions discussed Egypt’s top priorities to achieve the sustainable development goals including financial sustainability, strategies for transitioning towards green and sustainable finance and the government’s role in achieving a green economy in Egypt. In addition, the sessions discussed means of facing the challenges that the state may encounter while applying the green finance and the regulatory frameworks to achieve it as well as the mechanisms for financing projects to address climate change.

 

Assistant Professor of the Financial Accounting Department at the Faculty of Management Technology  Dr. Mona Al-Banan, who participated in the conference,  noted that environmental challenges and climate change had greatly affected the economies of the world  and its financial markets, which led to the necessity of activating the term “sustainable finance,” which includes environmental risk analysis, social responsibility and governance in financial reports and also  responses to global initiatives that call for introducing the sustainable finance system and responsible investing.

 

Dr. Banan pointed out that the university was keen to support the upcoming UN Climate Change Conference by organizing this event in order to provide a dialogue platform that brings together academics and students with experts, practitioners and policy makers in Egypt from various financial and economic institutions to spread knowledge, exchange experiences, and discuss issues related to this content.

 

On the other hand,  Assistant Professor of the Department of Economics, Hebatullah Ghoneim explained that the agenda of the three-day conference included 7 sessions about:

  • The recent international developments in green securities issuances such as green bonds
  • The government's main role in the green economy
  • The importance of green investment
  • How emerging markets contribute to financial innovation and “creating new financial instruments,” to enhance their economic stability, developments and strategies stimulating sustainable finance
  • The impact of applying responsible investment on the economy and financial systems in making investment decisions
  • Development of green securities globally
  • The extent of Egypt’s response to comply with the sustainable financing approach.

 

The GUC conference was attended by distinguished elite of experts in the field of sustainability represented by the Ministry of Local Development, the Egyptian Financial Regulatory Authority (FRA), Abu Dhabi Commercial Bank (ADCB), Suez Canal Bank, Mubasher Financial Services, Synergys Center for International and Strategic Studies.