Amr Hussein Elalfy @ Egypt Finance & Sustainability Seminar
Event hosted by ACCA & CFA Society Egypt on Monday, 4 March 2024
Below is the excerpt of the Opening Remarks presented by Amr Hussein Elalfy, MBA, CFA, Former Chairman & Board Member, CFA Society Egypt.
More photos from the event are shown below.
Ladies and Gentlemen,
Good evening!
I am honored to be here today at this prestigious seminar organized by ACCA and CFA Society Egypt, the local society of CFA Institute. I understand that the title of this seminar has to do with sustainable finance, but I would like to touch on sustainable investing for a moment.
CFA Society Egypt and CFA Institute have been actively promoting sustainable investing practices. Sustainable investing has many different names, but they all have the same meaning more or less.
Some call it socially responsible investing; others call it values-based investing or impact investing, and more recently “woke investing”. “Woke investing” has gained popularity in recent years, but it remains a relatively new and evolving field. The approach allows investors to align their financial goals with their personal values, aiming to make a positive impact on society while seeking financial returns.
But first, let me briefly introduce the various activities of our society. As many of you may know, CFA Society Egypt is a local professional association that fosters excellence and ethics in the investment industry. Through its diverse range of educational programs, networking events, and advocacy efforts, CFA Society Egypt plays a vital role in enhancing the investment profession in Egypt. In fact, the society’s mission is to ensure a continuous and sustainable influx of talented young individuals into the investment industry.
As for sustainability and finance, in recent years, sustainability has gained significant traction worldwide, and Egypt is no exception. The pressing challenges posed by climate change, social inequality, and corporate governance have all prompted a paradigm shift in the finance & investment landscape.
Recognizing the importance of sustainability, CFA Institute, the global association of investment professionals, has placed a strong emphasis on this area. In response to the growing demand for expertise in Environmental, Social, and Governance investing, exactly 3 years ago, CFA Institute launched the “Certificate in ESG Investing”, which was originally created by CFA Society of the United Kingdom. This certificate equips investment professionals with the knowledge and skills necessary to navigate the complex landscape of sustainable investing.
CFA Society Egypt is actively involved in promoting sustainable investing practices in our country. My dear colleague, Ashraf El-Khatib, Vice President of CFA Society Egypt, will provide more details about our society's initiatives and efforts in this regard. With his passion for sustainability, Ashraf now heads the ESG Committee at the society, helping advance sustainable finance/investing in Egypt.
Sustainability in finance goes beyond simply adopting ESG principles; it involves a broader perspective on long-term value creation, risk management, and societal impact. As responsible investment professionals, we have a fiduciary duty to consider the ESG factors that can influence investment outcomes. By incorporating sustainability into our investment decisions, we can contribute to a more resilient and prosperous future.
In Egypt, we have a unique opportunity to drive positive change through sustainable finance/investing. Our country is blessed with immense renewable energy potential, a rich cultural heritage, and a vibrant entrepreneurial spirit. We must harness these strengths and channel our financial resources towards sustainable projects and initiatives that align with our national development goals.
As we move forward, I encourage all of you to engage with CFA Society Egypt to collaborate, share knowledge, and collectively work towards building a more sustainable and inclusive financial ecosystem in Egypt.
In conclusion, sustainability is now intertwined with finance and investing more than ever before, and CFA Society Egypt is committed to driving this agenda forward. Call it whatever name you like, let us explore together the various opportunities to contribute to the same cause: sustainability.
I look forward to the valuable insights that will be shared by all esteemed speakers and panelists today.
Thank you.