SEKEM Report2021

SEKEM Report 2021 Launched

CEO Statement: SEKEM Report 2021

The world is facing big challenges. The terrible circumstances of war and conflict show that mankind altogether is still not ready to act out of love and the understanding of the other. For us, it is not enough to be an inspiring model for social transformation and innovation but our vision is that this model can be upscaled, become mainstream in Egypt and replicated in the world.

Although Egypt’s macroeconomic environment has shown resilience in 2021 in the face of COVID-19, social conditions remain challenging due to the impact of the pandemic on people’s incomes. We believe that our consumers need to be better educated to become a driver of change. Despite some challenges related to the changing prices and availability of raw and packaging materials, SEKEM Holding posted a healthy business performance, achieving all of its sales and profit targets.

In line with our SEKEM Vision Goals 2021 priorities in the field of Renewable Energies (SVG#07), we could decrease our energy intensity of generated sales and increase our renewable energy share to a record high level of 15% out of total energy usage. This helped us to decrease our carbon footprint and achieve a decoupling from sales. Still, our total energy consumption increased due to our expansion in land reclamation activities and a lack of adequate replacement of diesel for agricultural machinery.

In regards to the scope of Responsible Consumption and Sustainable Lifestyle (SVG#13), we invested strongly in awareness raising among employees and students.  Letting them calculate their own carbon footprint it became visible that there is still a long path towards living a sustainable lifestyle. A first step has now been done by introducing our organization-wide “currency” Miza, which is now offering employees an incentive to buy our own biological and local products.

 Following our goal of 100% organic agriculture in Egypt by 2057 we created the “Demeter Carbon Credits”, a methodology to incentivize and remunerate farmers in return for sustainable farming methods. More farmers being attracted to organic and biodynamic agriculture is one of the most effective steps towards tieing down carbon from the atmosphere to the soil and thus to stem climate change. As COP27 will take place in Egypt this year, it will be our main intention to spread this concept.

I want to thank our strong network of partners, clients and friends for their constant support and commitment without which we would not be able to present you this report as a reflection on our joint achievements and way towards reaching our vision goals. We are very optimistic about the resilience of our initiative and are prepared to maneuver through upcoming difficult macroeconomic circumstances such as the ongoing currency devaluation. It emphasizes our commitment to reduce our debts and focus on our priorities.

No matter the circumstances, we are enthusiastic about changing the world and confront new mission impossible. 

 

Helmy Abouleish CEO, SEKEM Holding