Mashat says entrepreneurship could have role in countering climate change

Egyptian International Cooperation Minister Rania El Mashat has said that entrepreneurship could have a key role in countering climate change and developing emerging technologies that aim to preserve environment and mitigate the negative effects resulting from harmful emissions, as well as supporting the efforts to achieve sustainable development.

She added that the UN Climate Change Conference (COP27), which is due to be held on November 7-18 in Sharm El Sheikh city, would witness organizing “Youth Day” to discuss how to strengthen the part of young innovators and entrepreneurs in green transformation efforts.

Mashat’s comments came during her meeting on Sunday with representatives of Google to enhance the role of startups in combating climate change, as part of Egypt’s preparations for hosting the COP27, according to a statement released by the International Cooperation Ministry on Sunday.

She explained that her ministry targets boosting partnerships with global companies, development partners and relevant government bodies to support young entrepreneurs and innovators and push forward development efforts, the statement added.

On their part, Google representatives stressed their keenness to foster cooperation with the Egyptian government in light of the country’s chairmanship of the COP 27, in addition to bolstering the efforts exerted to drive startups and innovators to contribute to the fight against climate change.

Meanwhile, the international cooperation minister met with Meta representatives to discuss means of cementing bilateral partnerships, with a view to supporting sustainable development efforts in Egypt and advance technical cooperation.

Mashat stated that Egypt has great potential to become a regional hub for startups and entrepreneurship, noting that the International Cooperation Ministry’s portfolio includes around USD one billion for executing 36 projects in this domain.

She noticed that Egypt works to expand partnerships aimed at backing startups and young innovators as an important catalyst for inclusive and sustainable growth, citing the recent presidential directives for taking steps to enable emerging firms to grow their businesses and give them incentives for growth, the statement concluded.