SODIC A Supporting Sponsor Of Cop27

The signing of 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 organisational and financial affairs of the conference, Introduced Sodic as a 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 us that a warming planet is a major challenge to sustainable development.

SODIC is a publicly traded, non-family owned, and well-governed business. SODIC's involvement is consistent with the company's long-held and unwavering dedication to embedding ESG (environmental, social, and corporate governance) frameworks into its strategy and operations as part of its responsibility to its stakeholders.

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 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 several 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 Egypt’s Stock Exchange (Ticker OCDI).