EGX Hosts The First Sustainability Conference

Tuesday, 27 October 2015

The Egyptian Exchange (EGX) will host its first Sustainability Conference next week with the participation of a large number of the business community’ leaders, experts and executives to discuss ways to launch initiatives to enhance the degree of the sustainable development’ adoption in the business community. The conference will witness high-level governmental participation. The opening speech will be delivered by Mr. Ashraf Salman, Minister of Investment, Dr. Ghada Waly, Minister of Social Solidarity, Mr. Sherif Samy, Chairman of the Egyptian Financial Supervisory Authority (EFSA) as well as the participation of the head the UN women program in Egypt, and the advisor to the World Federation of Exchanges (WFE) during the conference sessions.
The conference will review the successful initiatives carried out by the Egyptian private sector in sustainable development and their impact on the company’s performance and on society as a whole, the conference sessions will also discuss ways to develop companies and employment efforts to preserve the environment and optimize the natural resources’ use.
From his part, Dr. Mohammad Omran, EGX chairman said that EGX is highly supporting and attempting to spread the sustainability applications in the business sector, pointing out that the issue of development is no longer the responsibility of the government alone, but must combine community’s efforts as a whole in order to achieve them, topped by the private sector, adding that the studies confirm that adopting the business community of the sustainable development practices lead to a significant improvement in the economic growth rates in the country. Omran declared that sustainability does not mean just charity, at the same time does not mean neglecting the profitability principle in companies,. Profit is an authentic goal of any private company, but sustainability means that there is a business model that takes into account keeping the community resources as well as development and profitability.
Omran said that there is a global trend to support the new objectives of development launched by the United Nations to replace the Millennium Development Goals, which include a focus on the provision of education and health care, gender equality, women empowerment and providing job opportunities.

Omran said “I’m proud to say that EGX is one of the international players prominent in supporting sustainability at the level of exchanges efforts “, where it was one of the first five stock exchanges worldwide that unite in order to launch the United Nations initiative for exchanges with sustainability and Social Responsibility which has become one of the most prominent global initiatives that shall encourage the business community to achieve greater sustainability, moreover EGX is an active member of the Sustainability and Social Responsibility group in the World Federation Of Exchanges WFE, which was established in March 2014.

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