$30 trln in additional investments required to achieve net zero in 8 hard-to-abate sectors
The Net Zero Industry Tracker 2024 estimates that $30 trillion in additional capital will be required across ...
FEI’s CSR initiative to bolster Egypt Vision 2030 to achieve SDGs
The Federation of Egyptian Industries (FEI)’s initiative on Corporate Social Responsibility (CSR) is meant to bolster “Egypt Vision 2030” to achieve the Sustainable Development Goals (SDGs) and the 2050 National Strategy for Climate Change.
The initiative is the first of its kind and is meant to promote the private sector’s contribution to development efforts, according to a statement by the FEI’s Environment Compliance and Sustainable Development Office.
The FEI launched the overture within the framework of its efforts to improve economic and social conditions in local communities and provide better investment climate for the private sector.
Chairman of the FEI’s Environment Compliance and Sustainable Development Office Sherif Gabaly said having a powerful business community helps to achieve social development and secure decent jobs, thus contributing to improving living conditions in the Egyptian community.
He added that this also can help realize gender equality and provide safe working environment.
Gabaly said industrial entities and companies should not be looked at as economic facilities only, but as institutions that have a role to play in society.
Under CSR, business entities act positively towards society, launch voluntary initiatives and work on improving the conditions of some targeted groups through strategic and sustainable activities.
Gabaly underlined the importance of the social role and ethical commitment of industrial companies towards the communities in which they operate.
He explained that playing this social role positively affects companies, especially with regard to upping revenues and production.
Gabaly said committing to CSR has promoted companies’ credibility, and firms’ came to be aware of the importance of CSR over the past period.
Egypt has a large number of outstanding models of private sector companies, which have sought to play a major role in improving living conditions in societies.
Eng. Ahmed Kamal Abdel Moneim, CEO of the FEI’s Environment Compliance and Sustainable Development Office, said contributing to the achievement of the sustainable development goals leads to reaching more robust, inclusive and sustainable economic growth rates, creating decent job opportunities for both women and men, more efficient use of resources, applying best practices within the workplace, increasing productivity and competitiveness, in addition to opening new local and international markets.
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