Developing a sustainable pipeline of low-carbon projects in Egypt

Genesis, in partnership with Acumen Consulting, is working with PwC as a delivery partner for the Climate Finance Accelerator (CFA) programme, which aims to develop a sustainable pipeline of bankable, low-carbon projects in Egypt and to identify suitable financing options for them. 

CFA Egypt is a good example of bringing together key stakeholders – policymakers, the finance community and project proponents – to ensure that climate mitigation and adaptation is a national priority.

The CFA is a four-year technical assistance project funded by the UK Department for Business, Energy & Industrial Strategy.

Climate inaction in Egypt’s agriculture sector could cost the economy approximately US$ 55.3 billion for the 30-year period between 2020 and 2050. This is approximately US$ 1.84 billion a year. Climate action through the achievement of Egypt’s Nationally Determined Contributions and its Sustainable Development Strategy needs funding – and funding needs a sustainable pipeline of bankable low-carbon projects. Thus, Acumen and Genesis will:

• Support the development of a climate finance landscape mapping of Egypt, as well as factsheets for priority sectors – energy, transport, agriculture and waste management.
• Strengthen the capacity of project proponents to design low-carbon, investable projects as well as integrate gender equality and social inclusion considerations.
• Establish networks between climate finance participants while improving the awareness of climate finance in Egypt.
• Ensure that the CFA process is fully developed and owned by relevant stakeholders.
• Increase policymakers’ awareness of barriers and enablers in the enabling environment for climate finance.