Narrative Summit’s Leap to COP27 | The Role of Banking & Private Sector in Sustainable Development 

October 25, 2022
WoEgypt

• CSR Advisor to CBE Governor: The Banking Sector is Now an Impactful Partner in Solving Financial and Social Challenges

• Ghada Hammouda: Private Sector is a Key Partner in the Success of COP27 and achieving sustainable development goals

• Lamia Kamel: Fulfilling the 2030 sustainable development promise requires the complete integration of women in the economy

In the lead up to hosting the UNFCCC’s Conference of the Parties (COP27), a new episode of Narrative PR Summit’s Leap to COP27 highlights “The Role of the Private and Banking Sectors in Sustainable Development”, which comes within a series of interviews with key industry representatives under the auspices of the Ministry of Environment. The latest episode spoke to Lamise Negm, CSR Advisor to CBE Governor, and Head of the Sustainable Development Committee in the Federation of Egyptian Banks, as well as Ghada Hammouda, Chief Sustainability Officer in Qalaa Holdings and member of the Sustainability Committee of the Arab Federation of Capital Markets.

Lamise Negm

On her part, Lamise Negm explained that “CBE strategy and the banking sector in general is at the essence of the government’s plan for economic and social development. It is an amalgamated effort of all government sectors in cohesion to Egypt 2030 vision and parallel to the climate summit scheduled to take place this November, focusing global attention on Egypt and working for the overall interest of the public.”

In a framework of the social responsibility shared by the different entities, Negm pointed out that “the private sector participates in presidential development projects like “Decent Life Initiative” which targets upgrading houses and providing underprivileged sectors in society with their essential needs of water, electricity, schools and hospitals, not to mention bank efforts to secure job opportunities within this grand development project.

Negm added within her talk that “the main target for the banking sector in Egypt is no longer limited to attracting more clients and achieving maximum profit. In fact, the sector has become an impactful partner in overcoming the financial and social challenges facing citizens. It has, in this view, become a pioneering sector in sustainable finance, guaranteeing its own future growth while driving environmental and social development for the whole country.”

She continued saying that the sector has, since 2014, allocated a percentage of its net revenue to community development and fulfilling citizens’ needs in more than one front, particularly the health sector. In this sector, banks have provided medical equipment and tools, supported medical research not to mention ending the long waiting lists for treatment in local hospitals, in cooperation with the Ministry of Health.

Dr. Ghada Hammouda

Speaking for the private sector, Dr. Ghada Hammouda, Chief Sustainability Officer for Qalaa Holdings and member of the Sustainability Committee at the Arab Federation of Capital Markets said that “The private sector has become a key partner for the success of COP27 and achieving sustainable development goals. The private sector, she asserts, has greatly evolved and developed, coinciding with the approval of the 17 Sustainable Development Goals (SDGs) in 2015, which set the global plan for achieving social, economic, and environmental sustainability. Hence, all international practices, the private sector, the public sector and civil society institutions are now working within an integrated framework of a comprehensive and responsible development.

Ghada Hammouda also affirmed that “the private sector is now both an impactful and impacted party when it comes to climate change. It is impactful through its finance, innovations, the creation of job opportunities and training young people on what we call “green economy”. It is impacted because internal auditing and monitoring measures have been set for all projects implemented in Egypt, which must in turn be aligned to sustainable development goals and environmental measures, reducing all associated carbon footprint and environmental impacts to ensure reaching the net zero target.

Having founded and pioneered Narrative PR Summit’s efforts to brand and formulate Egypt’s story, Lamia Kamel, Former Assistant Minister of Tourism and Antiquities for Promotion, said: “I am particularly proud that we have such outstanding women participating in our Leap to COP27 to highlight the key role Egyptian women play in establishing our national identity and achieving sustainability. Women have historically played a key role in protecting national values through their role in the family, being in charge of household responsibilities, practicing the different crafts, and up to the highest leadership roles which women currently fill in all private, governmental and banking sectors.”

Having founded and pioneered Narrative PR Summit’s efforts to brand and formulate Egypt’s story, Lamia Kamel, Former Assistant Minister of Tourism and Antiquities for Promotion, said: “I am particularly proud that we have such outstanding women participating in our Leap to COP27 to highlight the key role Egyptian women play in establishing our national identity and achieving sustainability. Women have historically played a key role in protecting national values through their role in the family, being in charge of household responsibilities, practicing the different crafts, and up to the highest leadership roles which women currently fill in all private, governmental and banking sectors.”

Kamel added that “achieving sustainable development for 2030 requires the full integration of women in ‘formal’ economy in various ways including effective participation and equal opportunities to lead on all levels of the political and economic life falling within the pledges jointly approved with the United Nations committees on women. The application of these concepts is currently bearing its fruits, translated in the empowerment of women and the successive gains we witness in this area where women are increasingly represented in the parliament, leading as ministers, working as judges, and handling key files in the banking sector, in corporate social responsibility and sustainability, which is a source of pride for every Egyptian woman.”

This latest episode of Narrative PR Summit is part of its online edition focusing on the efforts leading up to UNFCCC’s climate summit and entitled Leap to COP27. 

Narrative PR Summit is a platform dedicated to highlighting the constructive efforts made on all aspects of the Egyptian state via the summit’s social media portals. Gaining massive success last year and reaching more than 18M impressions, 7M inOPteractions, and 6M views, Narrative PR Summit hosted a number of prominent experts and officials who discussed Egypt’s major milestones and landmark projects, with a futuristic vision covering key topics and challenges on the local and an international front.

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