{"id":543961,"date":"2022-02-27T04:10:57","date_gmt":"2022-02-27T04:10:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/our-very-own-net-zero-target-for-cop27-plus-remittances-up-again\/"},"modified":"2022-02-27T04:10:57","modified_gmt":"2022-02-27T04:10:57","slug":"our-very-own-net-zero-target-for-cop27-plus-remittances-up-again","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/our-very-own-net-zero-target-for-cop27-plus-remittances-up-again\/","title":{"rendered":"Our very own net-zero target for COP27? Plus: Remittances up again."},"content":{"rendered":"

<\/a> Egypt could announce its first net-zero target during COP27: <\/strong>Egyptian authorities may announce a net-zero carbon emissions target at November\u2019s COP27 climate summit in Sharm El Sheikh, Oil Minister Tarek El Molla told Bloomberg TV (watch, runtime: 8:51<\/a>). The government has pledged to expand renewable capacity to cover 42% of the country\u2019s energy needs<\/a> by 2030, up from 10% currently, but has not previously set a date for reaching overall carbon neutrality.<\/p>\n

Economist Mahmoud Mohieldin has been appointed a <\/strong>high-level climate champion<\/a><\/strong> for the COP27 summit<\/strong>, according to a statement<\/a>. Mohelden will work to coordinate on climate between the government, the business community, the private sector, and international financing institutions. Mohieldin, who is an executive director at the International Monetary Fund and the UN Special Envoy on Financing the 2030 Sustainable Development Agenda, will also work closely with Nigel Topping, the UK\u2019s high-level champion for last year\u2019s COP26 summit.<\/p>\n

Transfers from Egyptians abroad rose 6.6% y-o-y in 11M2021 to USD 28.9 bn<\/strong>, according to a Central Bank of Egypt statement (pdf)<\/a>. The increase is in line with previous World Bank projections<\/a> that remittance inflows to Egypt could hit a record high in 2021, with the bank forecasting transfers from Egyptian expats increasing nearly 13% y-o-y to USD 33 bn throughout the year. The projection would make Egypt one of the world\u2019s top five recipients of remittances.<\/p>\n

EDITOR'S NOTE- This story was updated on 27 February, 2022 to reflect that remittance inflows rose 6.6% y-o-y in 11M2021, not 9M2021.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt could announce its first net-zero target during COP27: Egyptian authorities may announce a net-zero carbon emissions target at November\u2019s COP27 climate summit in Sharm El Sheikh, Oil Minister Tarek El Molla told Bloomberg TV (watch, runtime: 8:51). The government has pledged to expand renewable capacity to cover 42% of the country\u2019s energy needs by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[1092,111,228,854,72,1091,1090,1089,338,320,414],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543961","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-al-morshedy","tag-also-on-our-radar","tag-cop27","tag-egyptology","tag-enterpriseam","tag-fedex-express","tag-hanwha-group","tag-net-zero-target","tag-retail","tag-security","tag-south-korea","wpautop","entry"],"acf":{"mongo_id":"9d3cc7bc-193b-48e8-bf28-24ddad87e90c","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[543943],"teaser":"","voice_url":""},"yoast_head":"\nOur very own net-zero target for COP27? Plus: Remittances up again. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/our-very-own-net-zero-target-for-cop27-plus-remittances-up-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Our very own net-zero target for COP27? Plus: Remittances up again.\" \/>\n<meta property=\"og:description\" content=\"Egypt could announce its first net-zero target during COP27: Egyptian authorities may announce a net-zero carbon emissions target at November\u2019s COP27 climate summit in Sharm El Sheikh, Oil Minister Tarek El Molla told Bloomberg TV (watch, runtime: 8:51). 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He reiterated Shoukry\u2019s pledge earlier\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576997,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/cop27-dominates-the-conversation-on-the-airwaves\/","url_meta":{"origin":543961,"position":3},"title":"COP27 dominates the conversation on the airwaves","author":"enterpriseam admin","date":"6 November 2022","format":false,"excerpt":"It was all about COP27 yesterday on talk shows: On the eve of the global climate summit, the nation\u2019s talking heads recapped the issues at stake and how the government has prepared for the gathering. Kelma Akhira\u2019s Lamees El Hadidi was broadcasting live from Sharm: she spoke about the preparations,\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553613,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/cop27-preparations-begin-fawry-looking-to-launch-b2b-fmcg-marketplace-app\/","url_meta":{"origin":543961,"position":4},"title":"COP27 preparations begin, Fawry looking to launch B2B FMCG marketplace app","author":"enterpriseam admin","date":"9 December 2021","format":false,"excerpt":"COP27 preparations begin: The government committee mandated with organizing COP27 convened for its first meeting yesterday, to discuss priorities and preparations for the climate summit scheduled to be held in Sharm El Sheikh next November, cabinet said in a statement.Fawry\u2019s fast-moving consumer goods branch will launch its B2B FMCG marketplace\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577025,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/cop27-starts-in-sharm-el-sheikh-with-a-mission-to-move-beyond-pledges\/","url_meta":{"origin":543961,"position":5},"title":"COP27 starts in Sharm El Sheikh with a mission to move beyond pledges","author":"enterpriseam admin","date":"7 November 2022","format":false,"excerpt":"By Todd Wilcox As mns of words will likely be written over the next two weeks to variously scrutinize and analyze, cheer and chide the discussions that take place at the UN COP27 climate conference, I want to be as clear as possible with mine ⁠\u2014 businesses and investors are\u2026","rel":"","context":"In "A MESSAGE FROM HSBC"","block_context":{"text":"A MESSAGE FROM HSBC","link":"https:\/\/enterpriseam.com\/egypt\/category\/a-message-from-hsbc\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/108.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543961"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543961\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543943"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543961"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543961"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}