Pioneering Carbon Credit Program Featured at COP27

Carbon Credit Program pioneered by Egyptian Biodynamic Association & the Egyptian Stock Exchange featured at the COP27 Solutions Dialogues

Sharm El-Sheikh, Egypt November 2022:  During the COP27 Solutions Dialogues co-hosted by Future Economy Forum, Sekem, Heliopolis University & NOW Partners, an innovative carbon credit program was featured prominently, showcasing great advances in regenerative business & regenerative agriculture that have the potential to scale globally. Sekem, an Egyptian organization pioneering sustainable development in Egypt and the MENA region, has for over forty years made great advances in biodynamic and regenerative agriculture methods & sustainable development.

Photo by Sekem

Via a recently launched carbon credit program by the Egyptian Biodynamic Association (EBDA) and the Egyptian Stock Exchange, with Sekem as a major collaborator, ‘the Economy of Love (EoL)’, farmers are incentivized to transition to regenerative agriculture practices that sequester higher quantities of carbon, offer companies opportunities to offset unavoidable emissions, and reduce prices for consumers of sustainable food products.  

A Win-Win-Win for Companies & Farmers
Maximilian Abouleish-Boes, Sustainable Development and Social Innovation Director at Sekem Group, says, “What is game-changing about this system is that when you acknowledge and monetize the ecosystem service the farmer is providing –  and you then coordinate with businesses that want to ‘inset’ – to compensate for their unavoidable emissions, then you have a win-win. For a company, this is not only good to offset their emissions, it’s also an investment into the resilience of their supply chain.”  

Helmy Abouleish, CEO of Sekem Group, comments “This step is expected to fundamentally shift the global agriculture and business sectors. To receive additional income from generation of carbon credits, farmers will need to shift from conventional harmful agricultural practices to the sustainable ones, and thus contribute to the sequestration of CO2 and bring positive impact to the world.”

By 2028, Sekem estimates roughly 9.6 million tons of sequestered CO2 will be sequestered through member farms’ activities.

A Proven Model with Potential to Scale Globally
Hunter Lovins, Managing Partner at NOW Partners, comments, “SEKEM’s system combines regenerative agriculture with agroforestry and renewable energy to lock up 20 tons of carbon per acre per year. As it spreads, it can cut at least half of Egypt’s carbon footprint. It is a model for development programs the world around, can be replicated anywhere and is half the solution to the climate crisis.”

About Sekem:
SEKEM Initiative was founded with the vision of sustainable development and giving back to the community. It aims to develop the individual, society and environment through a holistic approach which integrates ecology, economy, societal and cultural life. Today, the vision that brought Dr. Ibrahim Abouleish to dig the first well in the vast desert land still resounds in all of SEKEMs activities.  Like a compass, our vision, mission and values guide us in the everyday work in all SEKEM institutions. Learn more: www.sekem.com

About the Future Economy Forum:
The Future Economy Forum is a global action platform that offers an interactive mosaic of visions, solutions and action initiatives, media products, executive programs and innovation labs that reinforce the impact of its international events. It convenes and supports a global community of senior leaders from business, finance, policy and other economic innovation stakeholders whose inspired and pragmatic approaches, concrete implementations and joint initiatives point the way towards Regenerative Value Creation. Learn more: www.futureeconomy.forum