SODIC, major Real Estate developer in Egypt, announced its supporting sponsorship of COP27, participating in the United Nations Climate Change Conference COP27 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 signing of the participation memorandum of understanding 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 on Thursday 13th of October.
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 including through the built environment. Moreover, he assured that a warming planet is a major challenge against sustainable development.
SODIC is a listed and non-family-owned company managed through a strong corporate governance framework. As a leader in its industry SODIC’s participation comes in line with its strong and longstanding commitment to integrating Environmental, Social, and Corporate Governance frameworks into its strategy and operations as part of its larger responsibility towards all its stakeholders.
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.
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 part of the climate action dialogue and exploring opportunities for climate resilience. We are currently taking serious steps towards a sustainability led corporate strategy, conducting a full ESG assessment and setting a long term ESG strategy to guide our commitment moving forward and set the baseline for our carbon reduction targets.”
SODIC is one of the region’s leading real estate development companies, currently developing a number of diversified projects in Egypt. SODIC’s developments in East and West Cairo and Egypt’s North Coast range from residential, retail and commercial projects to large scale mixed-use developments. SODIC is listed on the Egypt’s Stock Exchange (Ticker OCDI). For more information, please visit www.sodic.com