Dr. Mohammed Omran announces that financial centers in Africa have a real opportunity to turn African countries into global green centers upon providing financing for the continent. He added that the International Network of Financial Centres for Sustainability (FC4S) is playing an important role in empowering and supporting these African green centres, thus developing a future vision for further cooperation.
This came within the framework of a meeting that included representatives of the member states of the International Network of Financial Centres for Sustainability (FC4S) in the presence of Egypt’s Permanent Representative to the UN Ambassador Alaa Youssef, the World Trade Organization (WTO) and other international organizations in Geneva. These parties met to develop a new strategy aimed at aligning their investments with The Paris Agreement and the Sustainable Development Goals (SDGs) – both of which need a major boost in funding to achieve their objectives.
Dr. Omran emphasizes that FRA represents Egypt in the International Network of Financial Centres for Sustainability (FC4S). He added that Cairo is one of five African countries contributing to the Regional Plan and African Program. Also, he notes that the Authority strongly supports the establishment of close relations, coordination and partnerships among its counterparts in Africa, adding that this role will be strongly demonstrated in the Regional Centre for Sustainable Finance (RCSF) established by the Authority and which is scheduled to serve Africa and the Middle East.
Dr. Omran pointed out that this year, the Authority joined the International Network of Financial Centres for Sustainability (FC4S). The (FC4S) is a partnership between the leading financial centers and the United Nations Environment Program (UNEP), which serves as a sponsor aimed at enabling financial centers to exchange experiences, drive convergence and take action on common priorities to accelerate expansion of green and sustainable financing.
FRA’s Chairman added that the Authority’s accession to International Network of Financial Centres for Sustainability (FC4S) serves its strategic objective. He added that through joining the (FC4S) , FRA will be able achieve sustainable development through several axes, including awareness of the importance of sustainable development principles and how to integrate them into the operating systems of non-banking financial institutions to become Feasibility, encouraging those institutions to move to green finance and adopting Nature Conservation Strategy for a better world.
Members of the Network met in Geneva to develop a new strategy aimed at aligning their investments with the Paris Agreement and the SDGs – both of which need to significantly increase funding to achieve its goals. On the other hand, the FC4S Network has launched a regional action plan for Africa, prioritizing sustainable financing needs to become the first brigades, and coordinating the five African member centers – Azerbaijan, Cairo, Casablanca, Lagos and Nairobi – to promote strategic action and cooperation with peers across the continent and facilitate engagement with key international centers.
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