{"id":579543,"date":"2022-11-06T13:17:15","date_gmt":"2022-11-06T13:17:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/what-startupland-is-hoping-to-get-out-of-cop27\/"},"modified":"2022-11-06T13:17:15","modified_gmt":"2022-11-06T13:17:15","slug":"what-startupland-is-hoping-to-get-out-of-cop27","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/what-startupland-is-hoping-to-get-out-of-cop27\/","title":{"rendered":"What StartupLand is hoping to get out of COP27"},"content":{"rendered":"

<\/a> What StartupLand is hoping to get out of COP27:<\/strong> All eyes are on Sharm El Sheikh today as we kick off COP27, with the broader focus being on how countries will be able to set aside their differences and challenges to follow up on pledges from last year\u2019s Glasgow-hosted COP26. It aims to turn climate pledges into action, despite geopolitical tensions that could derail commitments. For StartupLand, many of the same overarching themes \u2014 including accessible climate financing, a conversation about loss and damage, and focusing on developing nations \u2014 are filtering through to their list of priorities. Enterprise spoke with several startups and investors about what they hope to see from the annual climate-focused event, what it would take for them to deem it successful, and what they hope to achieve from taking part.<\/p>\n

Emerging markets should be a priority:<\/strong> Encouraging more global capital investments in climate innovations in EMs rather than more developed nations should be a central focus, electric mobility startup Shift EV<\/a> CEO and co-founder Aly Eltayeb believes. \u201cIt doesn\u2019t make sense to overinvest in reducing emissions at a very expensive cost In Norway for example. There are gigatonnes of CO2 that can be eliminated in emerging markets at a fraction of the price,\u201d he told Enterprise.<\/p>\n

And there\u2019s an eye on the criteria for MENA investments:<\/strong> Plastic upcycling brand Up-Fuse<\/a> cofounder Yara Yassin would like to see what\u2019s in the bag for MENA in regards to sustainable environmental precautions and steps. \u201cI want to learn more about the opportunities [investors] are bringing for startups and businesses that support sustainable living in general,\u201d she said. Yassin is looking to better understand the criteria in which social enterprise investors decide on which companies to invest in.<\/p>\n

Global climate investors need to take notes<\/strong>, Eltayeb said, stressing the necessity that investors \u201clook beyond their Norwegian-Californian-German markets to the rest of the world.\u201d \u201cThis is a historic moment, you have climate as a way to spur innovation globally and to achieve a lot of the developmental goals that could only happen with capital flowing around the world,\u201d he said.<\/p>\n

Difficult global conditions, but:<\/strong> COP27 could be a great chance for different nations to work together towards a shared goal and push with the goals of the Paris Agreement without being distracted by some of the disagreements that have cropped up, Eltayeb said.<\/p>\n

Making headway on putting a monetary value on climate protection would be considered a successful outcome<\/strong>, the founders of the Climate Resilience Fund (CSF) say. \u201cAny actionable progress on defining a monetary value attributable to climate protection initiatives is a win, because it unlocks private capital and delivers impact at scale,\u201d the fund\u2019s Hossam Allam, who is also a founder of Cairo Angels, told Enterprise.<\/p>\n

CSF hopes to see \u201cactionable progress on a common accounting system for the value of nature,\u201d<\/strong> Sherief Kesseba, one of the CSF\u2019s partners told Enterprise, pointing at a marketplace that motivates parties to restore habitat. He hopes the summit leads to recognizing African agriculture as a \u201cpotential game changer for carbon capture and biodiversity\u201d and bringing in reforms of the carbon marketplace where credits substitute subsidies. \u201cSo that farmers globally are incentivized to invest in regenerating land rather than degenerating it,\u201d he said.<\/p>\n

The newly-established CSF has<\/strong>been making news<\/a><\/strong> on the climate front before COP27<\/strong> after it announced in September that it plans to raise USD 25 mn gathered from investors within two years of its launch. Some 50% of the yet-to-be-raised funds will go into Egypt, while the rest will be earmarked for pan-African solutions and startups. These startups should provide sustainable agriculture and \u201cnature-positive\u201d solutions to the climate crisis.<\/p>\n

Others are looking at the conference as a chance to exchange expertise<\/strong> and showcase their projects. Waste management company Tagaddod<\/a>CEO and co-founder Nour El Assal (My Morning Routine<\/a>) wants to share the model that his startup is building in Egypt and build on future corrections. He hopes to exchange experience, understand more about what people are doing in other markets and \u201cunderstand the status of the world towards moving to a greener climate.\u201d El Assal sees the summit as a chance for attendees to see what other countries and businesses are doing, noting that many successful green initiatives have emerged from large-scale conferences and expos.<\/p>\n

Up-Fuse wants to meet people from international organizations<\/strong> that would be interested in implementing a similar model, Yassin tells us. For her, a key goal is to meet policy makers during the conference, and organizations that would be interested in incubating ideas and projects similar to what is offered by her startup, including the International Organization for Migration, the UN Human Rights Commission, and others.<\/p>\n

These startups are also looking for some exposure for their business at the summit:<\/strong> Shift EV, Tagaddod, and Up-Fuse will all be present at the Green Zone. Shift EV is powering some of the summit\u2019s logistics with their electrofitted vehicles, El Tayeb tells us. \u201cWe\u2019re proud to provide vehicles to move goods around the conference that are zero carbon,\u201d he said, with the startup having a booth in the Egyptian pavilion in the Green Zone. Shift EV will participate in several panels and events throughout the summit as well, he said. Up-Fuse will also share a booth with the Egyptian Clothing Bank (ECA) in the Green Zone, Yassin said. She\u2019ll also be a speaker in several events in the summit\u2019s Green and Blue Zones.<\/p>\n

The hot-button issue of <\/strong>loss and damage<\/a><\/strong> that Egypt is trying to press during the conference also got some attention.<\/strong> Egypt wants to prioritize the conversation on compensation for countries that have experienced major economic losses on the back of climate change and its consequences. \u201cThis is an understandable and even [a] fair ask, but we don\u2019t believe it will materialize as direct compensation. Rather it may come in the form of grants for projects that support the climate, especially from the perspective of rebalancing atmospheric carbon or rehabilitating nature,\u201d Allam said.<\/p>\n","protected":false},"excerpt":{"rendered":"

What StartupLand is hoping to get out of COP27: All eyes are on Sharm El Sheikh today as we kick off COP27, with the broader focus being on how countries will be able to set aside their differences and challenges to follow up on pledges from last year\u2019s Glasgow-hosted COP26. It aims to turn climate […]<\/p>\n","protected":false},"author":1,"featured_media":579544,"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":[8378],"tags":[7286,6606,228,633,1634,123,6605],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-579543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-climate","tag-climate-resilience-fund","tag-cop27","tag-enterprisepm","tag-shift-ev","tag-startups","tag-up-fuse","wpautop","entry"],"acf":{"mongo_id":"df9851dd-7fd4-43e1-b9c5-6877fac58797","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/594.jpg","photo_position":"above","related_issue":[579528],"teaser":"","voice_url":""},"yoast_head":"\nWhat StartupLand is hoping to get out of COP27 - 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\/11\/06\/what-startupland-is-hoping-to-get-out-of-cop27\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What StartupLand is hoping to get out of COP27\" \/>\n<meta property=\"og:description\" content=\"What StartupLand is hoping to get out of COP27: All eyes are on Sharm El Sheikh today as we kick off COP27, with the broader focus being on how countries will be able to set aside their differences and challenges to follow up on pledges from last year\u2019s Glasgow-hosted COP26. 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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":577164,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/13\/egypts-just-financing-guide-bidens-cop27-pledge-headline-the-news-from-sharm-this-weekend\/","url_meta":{"origin":579543,"position":1},"title":"Egypt\u2019s \u201cJust Financing\u201d guide + Biden\u2019s COP27 pledge headline the news from Sharm this weekend","author":"enterpriseam admin","date":"13 November 2022","format":false,"excerpt":"Egypt launches guide to \u201cJust Financing,\u201d to boost multi-stakeholder partnership and unlock private sector climate finance: The International Cooperation Ministry launched last week the Sharm El Sheikh Guidebook for Just Financing (pdf), in cooperation with a host of international development partners, according to a ministry statement. The guide was developed\u2026","rel":"","context":"In "COP WATCH"","block_context":{"text":"COP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/cop-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","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":579543,"position":2},"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":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":579543,"position":3},"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":[]},{"id":576954,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/startups-to-watch-at-cop27\/","url_meta":{"origin":579543,"position":4},"title":"Startups to watch at COP27","author":"enterpriseam admin","date":"3 November 2022","format":false,"excerpt":"Fifteen global green startups will pitch at COP27 as part of the government\u2019s ClimaTech competition \u2014 but who are they? The International Cooperation Ministry has selected its 15-strong shortlist from the 422 startups that applied to the ClimaTech Run competition. The chosen firms will pitch their businesses to a judging\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547898,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/","url_meta":{"origin":579543,"position":5},"title":"Israel to investigate historic mass grave of Egyptian soldiers in Jerusalem","author":"enterpriseam admin","date":"18 July 2022","format":false,"excerpt":"Israel will investigate media reports of an unmarked mass grave in Jerusalem believed to contain the remains of Egyptian soldiers killed in the 1967 war, Israeli Prime Minister Yair Lapid told President Abdel Fattah El Sisi in a phone call, according to a statement from Ittihadiya. Israeli media Haaretzand Yedioth\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579543","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=579543"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579543\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/579528"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/579544"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=579543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=579543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=579543"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=579543"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=579543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}