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Korra Energi Participates in Establishing "Chapter Zero Egypt
Korra Energi Participates in Establishing "Chapter Zero Egypt - Climate Directors Forum"
Cairo, July 12, 2023 – Korra Energi, a leading company in the fields of contracting, energy efficiency, industrial trading, and utilities, announced its participation as one of the founders of the “Chapter Zero Egypt – Climate Directors Forum.” This forum aims to raise awareness about climate governance and environmental risk management. It is part of the “Global Climate Governance” initiative, organized in collaboration with the World Economic Forum. Korra Energi is committed to actively contributing to the challenges facing society and supporting the state’s plans and strategies to reduce emissions and deal with the negative impacts of climate change.
The “Chapter Zero Egypt – Climate Directors Forum” was founded in collaboration between 16 founding members, under the leadership of Engineer Ahmed El-Sewedy. It is a non-governmental organization that aims to educate the private sector and civil society on reducing carbon footprint and achieving zero carbon emissions by 2050. The forum invites large and medium-sized companies to join the association to raise awareness about the importance of emission reduction and encourage corporate boards to prioritize and address climate challenges and emissions in their strategies. Thus, Egypt’s ranking among major countries in emission reduction is expected to increase, especially after hosting the COP27 climate summit.
Ayman Korra: We have successfully reduced nearly 250,000 tons of carbon emissions annually through our sustainable energy projects.
Ayman Korra, Chairman of the Board of Korra Energi, stated, “We are proud to be part of the ‘Chapter Zero Egypt – Climate Directors Forum,’ which aligns with our efforts to provide community services that benefit everyone and contribute to spreading awareness of new climate concepts. We were the first to offer and implement energy efficiency solutions, and we have a rich portfolio of diverse projects in this field. We have succeeded in reducing nearly 250,000 tons of carbon emissions annually through innovative and integrated projects involving various new and green energy solutions that are either implemented or under implementation, resulting in highly positive environmental outcomes. Additionally, we have implemented numerous major projects in Egypt that rely on these unique solutions.”
Korra emphasized, “We are among the few companies in Egypt that already have projects that have been implemented or are being implemented in reality, such as the Tri-generation project, which utilizes exhaust gases from generators to generate energy and provide natural gas to the state, thus reducing carbon emissions. We have also implemented the ‘Navigation Nest’ project to utilize flare gas for power generation instead of burning it for electricity generation and the production of butane gas cylinders, thereby reducing harmful emissions to the environment. Furthermore, we collaborated with the Helwan Cement Factory to utilize the heat produced from the furnaces to generate 20 megawatts of energy, contributing to saving 30% of the factory’s energy consumption and reducing its thermal and carbon emissions.”
It is worth mentioning that the launch of the “Chapter Zero Egypt – Climate Directors Forum” was announced yesterday in the presence of Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, Dr. Yasmine Fouad, Minister of Environment, Khaled Hamza, the responsible director for Egypt at the EBRD, and board members of private sector companies.