![\"\"](\"http:\/\/inspiredeconomist.com\/files\/2013\/02\/shutterstock_96880654-300x200.jpg\" "\\"Wind")
There are so many buzz words associated with the subject of climate change \u2013 eco-friendly, sustainable policies, global warming, CO2 emissions, green this and green that \u2013 the list goes on and on. Makes it hard sometimes to see the wood from the slash-and-burned trees in our ever-shrinking forests.<\/p>\n
Egypt is a country liable to face the full impact of future climate change, say the experts. But do any of the would-be entrepreneurs looking to set up businesses in the country care?<\/p>\n
Recent economic development in the country points to opportunities in sustainability. Among them:<\/p>\n
The government and people of Egypt should be focused on sustainable economic development, especially if they ever look back over Egypt’s 6,000 years of recorded civilization.<\/p>\n
That record not only shows how trade and commerce flourished in an ancient world where even women were allowed to own their own business. But it also reveals how climate change some 4,000 years ago contributed to the collapse of Egypt’s Old Kingdom, the era associated with many of the pyramids we see today.<\/p>\n
The evidence for this has been found in pollen and charcoal deposits within deeply buried sediments in Egypt’s Nile Delta. Research into the sediments was carried out by Christopher Bernhardt, a member of the US Geological Survey (USGS), along with Benjamin Horton, an associate professor at the University of Pennsylvania’s Department of Earth and Environmental Science. Jean-Daniel Stanley at the Smithsonian Institution also participated in the study.<\/p>\n
\u201cHumans have a long history of having to deal with climate change. Along with other research, this study geologically reveals that the evolution of societies is sometimes tied to climate variability at all scales \u2013 whether decadal or millennial.\u201d<\/em>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 –Christopher Bernhardt, US Geological Survey<\/p>\n USGS Director Marcia McNutt said, \u201cEven the mighty builders of the ancient pyramids more than 4,000 years ago fell victim when they were unable to respond to a changing climate. This study illustrates that water availability was the climate-change Achilles Heel then for Egypt, as it may well be now, for a planet topping seven billion thirsty people.\u201d<\/p>\n The researchers wanted to see if changes in pollen assemblages would reflect ancient Egyptian and Middle East droughts recorded in archaeological and historical records. \u00a0They also examined the presence and amount of charcoal because fire frequency often increases during times of drought, and fires are recorded as charcoal in the geological record. The scientists suspected that the proportion of wetland pollen would decline during times of drought and the amount of charcoal would increase. Their suspicions were proved right.<\/p>\n This article continues…..<\/a><\/p>\n <\/p>\n The pollen and charcoal evidence recorded two other large droughts: one that occurred some 5,000 to 5,500 years ago and another that occurred around 3,000 years ago.<\/p>\n Today, as Egypt struggles to build an economy ravaged by political instability, the challenge of climate change has been on the country’s radar: a memorandum of understanding has just been signed between the Egyptian State Authority for New & Renewable Energy (NREA) and the industrial consortium Dii.<\/p>\n The memorandum could see greater collaboration between Europe and the Middle East and North Africa (MENA) region over renewable energy and the eventual creation an integrated electricity market.<\/p>\n According to Dii, areas of collaboration will include the exchange of information particularly in regard to solar and wind resource analysis, power transmission and grid capacity and expansion, the performance of renewable technology generating technologies, incentive instruments for private investments in renewable energy in Egypt and the MENA region, and long-term opportunities for renewable energy electricity transfers from Egypt to the EU.<\/p>\n Wind and solar have enormous potential for growth in Egypt, says Dii. By 2020 renewables should account for 20% of electricity production. Wind could play a central role in satisfying the fast-growing national electricity demand. By 2050 Dii expects this to increase six-fold over that of 2010, to more than 800 Terawatt hours.<\/p>\n Mohammed Mousa Omran, NREA Executive Chairman, said, \u201cRenewable energy is one of the important elements in the electricity portfolio in Egypt. Its role grows day by day supported with national incentives declared from the government. Wind and solar will be the key players and drivers for the renewable energy market not only in Egypt but also for MENA countries.\u201d<\/p>\n Paul van Son, CEO of Dii, said, \u201cEgypt is pivotal for the economic and political development of the Arab world. Together, NREA and Dii will further the development of renewable energy in Egypt, thereby fulfilling an important prerequisite for the emergence of a market for desert power and the integration of Egypt in the international power system. More modern amenities are available to facilitate Egypt’s transition to smart grid, renewable energy, and modern transportation infrastructures, and that creates tremendous business opportunities.\u00a0HSBC and many of the other multinational or major domestic banks operating in the country now offer\u00a0payments and cash management<\/a>\u00a0services to Egyptian businesses comparable to any developed world business.\u00a0With the emergence of\u00a0Dii<\/a>\u00a0as a force in commerce in the region, this financial liquidity should really help smooth the transition to a sustainable future.<\/p>\n \u201cWind and solar could one day be the backbone of the Egyptian economy. For Dii, NREA is the perfect partner based on its extensive experience and drive in the renewable energy market,” said van Son.<\/p>\n