Sunday 10/4/2022, the faculty of Commerce organized a session to raise the awareness of climate change and its effects on the economy, entitled: “Climate Changes Threats - Suggested Solutions from an Economic Perspective.”

At the beginning of the session, Prof. Tarek Ghalwash, Faculty Dean, indicated that this session coincides with the Climate Change Conference and the Egyptian state’s interest in raising awareness of the effects of climate change on the future of the human race. Considering the university as a part of society, it has held a number of sessions and workshops and conducted various interdisciplinary research that focused on climate change. In this context, the faculty of Commerce participated in a series of research papers on the challenges of climate change from an economic perspective. Dr. Mossad Salama Mandour added that this is in line with Article 4 of the Paris Agreement, which states that developed countries must continue their leading role in reducing heat emissions on the economic scale and work together to adapt to climate changes.

Prof. Samah Hafez, Vice Dean for Environmental Affairs, indicated that the most important economic challenges of climate change are to confirm the companies’ information on their sustainable performance and the economic and social dimension with all its pros and cons, in line with the plan of the Financial Supervisory Authority to prepare credible reports for comparative work in light of a changing competitive environment and to attract foreign investment.

Egypt also launched green bonds worth $750 million to finance projects adopted by the state to achieve sustainable development. Prof. Samir Aboul Fotouh, the faculty’s coordinator for implementing climate change activities, questioned the possibility of adopting research projects and intellectual production on the manufacture of equipment that prevents environmental pollution.

During the session, the following research ideas were discussed: (Assurance requirements for companies' disclosure of greenhouse gases - a future vision), which was presented by Prof. Ahmed Kamal Mutawa. Also presented by Dr. Mona Rabie, a paper entitled “The Economics of Climate Change - Implications and Adaptation Mechanisms”. In addition, Dr. Rasha Al-Najjar indicated that a strategic vision for dealing with carbon emissions trading plans is the starting point for addressing climate change issues.

At the end of the session, potential scenarios to curb global warming were discussed through a map showing the timeline for dealing with the issue of climate change at the international level from 1988 to 1992. International efforts to confront climate change by clarifying the clean development mechanism in Egypt were also discussed.

In conclusion, a set of suggested recommendations were presented, including reducing carbon emissions, use of renewable energy, the use of clean electricity in transportation, and climate finance.