Cairo, Egypt – 16 October, 2022: SODIC, the leading Real Estate developer in Egypt, announced its sponsorship of COP27, participating in the United Nations Climate Change Conference held in Egypt for the first time in November 2022. SODIC will be participating as a provider and supporter of the 27th session of the conference held in Sharm El Sheikh.
The sponsorship agreement was signed by Ambassador Achraf Ibrahim, Assistant Foreign Minister General Coordinator for COP27 Organizational and Financial Affairs and Magued Sherif, SODIC’s Managing Director at the Ministry of Foreign affairs.
Commenting on the sponsorship, Magued Sherif, SODIC’s Managing Director, said: “We are very proud and excited to be participating in COP27 this year and being a part of the climate action dialogue and exploring different opportunities for climate resilience. We are currently taking serious steps towards a sustainability led corporate strategy, setting a long term ESG plan that guides our commitment and carbon reduction targets moving forward.”
Ambassador Achraf Ibrahim, general coordinator of organizational and financial affairs of the conference, Introduced SODIC as provider and supporter of COP27. He highlighted the major role played by the international private sector in promoting sustainable business models and supporting the agreed climate goals. Moreover, he assured that a warming planet is a major challenge against sustainability, and with climate change circumstances, it is harder to find sustainable resources.
SODIC has been a United Nations Global Compact signatory, communicating on progress against its ten principles since 2014. As one of many climate initiatives, SODIC’s headquarters have been 95% powered by Solar Energy since 2020. In 2022 SODIC is publishing its first sustainability report and calculating its carbon footprint baseline to make a transparent commitment towards carbon reduction.
SODIC is a listed and nonfamily-owned company managed through a strong corporate governance framework. As a leader in its industry SODIC’s participation comes in line with its longstanding commitment to integrating Environmental, Social, and Corporate Governance frameworks into its operations as part of its larger responsibility towards all its stakeholders.
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