Financing the Green Economy: The Egyptian Experience | ||||
| L' Egypte Contemporaine | ||||
| Article 7, Volume 114, Issue 551 - Serial Number 3, July 2023, Page 9-32 PDF (236.85 K) | ||||
| Document Type: Original Article | ||||
| DOI: 10.21608/espesl.2023.131829.1087 | ||||
 View on SCiNiTO | ||||
| Author | ||||
Zeinab Tawfik El Sayed Elewa 
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| Professor of Economics at faculty of Economic and Political Science- Future University in Egypt (FUE). | ||||
| Abstract | ||||
| Climate change poses a threat to macroeconomic and financial stability at global level, according to latest data, planet's temperature has risen between 1.06 - 1.26 degrees above pre-industrial levels, which make combating climate change an independent goal of sustainable development strategy. So, achieving this goal has become dependent on what is being achieved in addressing climate problems to reach net zero emissions, which necessitates moving towards green economy through: use clean renewable energy, waste reduction, improving efficiency of using natural resources, and re-absorption of remaining emissions by oceans and forests. Given connection between climate action and economic development, the importance of Egypt’s presidency of "United Nations Climate Conference COP -27" which was held in November 2022 in Egypt, emerged to push global climate pledges towards implementation transition to green economy that is compatible with environment, discussed most prominent efforts of Egyptian state to transition towards green economy, which makes it an effective member in facing climate changes. The research paper concluded the importance of shifting to green economy and financing it with green bonds as an innovative financing tool for recent investment in Egypt, which contributes supporting Egyptian economy to achieve balance between increasing economic activity and maintaining sustainable development on one hand and reducing environmental pollution on other hand. | ||||
| Keywords | ||||
| Green Economy; Green Bonds; Environmentally Friendly Projects; Global Warming; Economic Development | ||||
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