92% of Egyptian respondents say climate change is already affecting their everyday life; 63% believe that climate change and environmental damage have affected their income or source of livelihood; 74% of Egyptian respondents say investing in renewable energy should be prioritised.
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These are some of the key findings from the first African edition [1] of the European Investment Bank’s (EIB’s) 2022 Climate Survey. The EIB is the lending arm of the European Union and the world’s largest multilateral lender for climate action projects. Since 2018, the EIB has conducted similar large-scale climate surveys across Europe, China and the United States.
Gelsomina Vigliotti, vice-president of the EIB, said:
“Most Egyptian people express their concerns about climate change, which is already impacting their livelihoods. The European Investment Bank is listening to people's concerns and working with Egyptian policymakers, the European Union and industry partners to address them. We very much welcome the choice for renewable energy of the Egyptian authorities. A great example of this strategy is the cooperation between the Egyptian authorities and the EIB to develop a large windfarm in the Gulf of Suez. This large-size windfarm project commissions an onshore wind farm some 400 km southeast of Cairo with up to 100 turbines. The EIB will continue to help power the transition to a greener and prosperous future that leaves no one behind as well as to support climate adaptation programmes.”
Egypt is the EIB’s largest country of operation outside Europe. The EIB is working closely with Egyptian partners following COP27 to accelerate climate action investment, including in large-scale clean energy, sustainable transport, and water and wastewater.
Climate change and environmental degradation
The survey results confirm that climate change has negatively affected the livelihoods of Egyptian people, with 63% stating that their income has been affected. These losses are typically due to severe drought, rising sea levels or coastal erosion, or extreme weather events such as floods or hurricanes.
More than half of Egyptians (54%), close to the African average of 57%, say they or people they know have already taken some form of action to adapt to the impact of climate change. Some of these initiatives include investments in water-saving technologies to reduce the impact of drought and drain clearing in advance of flooding.
Investment in energy sources
When asked about the sources of energy their country should invest in to combat climate change, 74% of Egyptian respondents (compared with the African average of 76%) say renewable energy should be prioritised, far ahead of fossil fuels (12%).
The EIB has a long-standing relationship with Egypt, which dates back to 1979, and has provided €14 billion for long-term public and private investments across the country.
The EIB has operated in Africa since 1965. Since then, it has invested €59 billion in 52 African countries, supporting infrastructure projects, innovative firms and renewable energy schemes, in the public sector and private companies, from microenterprises to the largest multinationals. Africa needs several hundred billion euros a year of investments to address the challenge of climate change.
Distributed by APO Group on behalf of European Investment Bank (EIB).
Media contacts:
AHMED Shimaa s.ahmed@ext.eib.org
WILLIS Richard r.willis@eib.org
About the EIB Climate Survey:
Conducted in partnership with the market research firm BVA, the first African edition of the EIB Climate Survey aims to inform the broader debate on attitudes and expectations in terms of climate action.
More than 6 000 respondents – including 1 000 Egyptians – aged 15 and over from 10 African countries participated in the survey between 1 and 25 August 2022, with a representative panel for each of the countries polled.
More findings from the first African edition of the EIB Climate Survey: https://bit.ly/3YDrSN2
About the European Investment Bank:
The European Investment Bank (EIB) is the long-term lending institution of the European Union and is owned by the EU Member States. The EIB Group has adopted a Climate Bank Roadmap (https://bit.ly/3jiCmRJ) to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and to deliver more than 50% of EIB funding for climate action and environmental sustainability by 2025. As part of the roadmap, all new EIB Group operations have been aligned with the goals and principles of the Paris Agreement since the start of 2021.
EIB Global (https://bit.ly/3HJLngS) is the EIB Group’s new specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnerships within Team Europe (https://bit.ly/3v2oQEn), alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to local people, companies and institutions through its offices across the world (https://bit.ly/3VflmsK).
