Egypt to increase green investments by 40% in 2024, 50% in 2025

Egypt is targeting a 40 percent increase in green investments in 2024 and a 50 percent increase in 2025, with a focus on integrating green investments into the overall state plan. The Cabinet Spokesman, Mohamed el-Homsani, revealed this information during a meeting overseen by Prime Minister Mostafa Madbouly. The discussions centered on adjusting carbon limits to enhance the competitiveness of Egyptian exports. As part of this strategy, Egypt plans to establish green hydrogen and ammonia plants within the Suez Canal Economic Zone through partnerships with multiple countries. The goal is to expand the use of green hydrogen and ammonia in various industrial applications, such as the production of iron, steel, fertilizers, and chemicals, to decrease greenhouse gas emissions significantly. The meeting also highlighted the importance of the 2050 Climate Strategy and the National Committee for Environmental and Climate Policies. These efforts are designed to implement a range of measures and campaigns aimed a t reducing carbon emissions across different sectors in Egypt, promoting the adoption of eco-friendly practices. Source: State Information Service Egypt