Cairo, September 24, 2023 – Creative Industry Summit in Egypt – “Value in Values: How Sustainability Efforts Impact Company Valuation” Panel Discussion.
In this panel, Dave Hughes, Mohamed Hany El Assal, Mark Wyllie, Mohamed Shelbaya, and Tarek Kamel examine the true benefits of sustainability in the context of contemporary business. They explore the real effects of sustainability initiatives on company valuation and introduce leaders who oversee multinational powerhouses that have integrated sustainability into their strategic visions.
During their discussion, they delve into the challenges organizations face when transitioning to environmentally friendly methods and the rewards that come with such commitments. Today’s rapidly expanding creative economy and industry don’t just make a significant financial impact on the global economy; they also hold substantial non-financial value, influencing not only economics but also social development.
The issue of sustainability in the creative sector remains relevant, given its contributions to economic, social, cultural, and even environmental development. Dave Hughes, Country Managing Director of L’Oréal in Egypt, emphasized that sustainability affects everyone, both women and men. He pointed out that thousands of L’Oréal employees think about sustainability on a daily basis. When they arrived in Egypt, they were committed to spreading a culture of sustainability through innovation and education, a mission that drives them daily.
Mohamed Hany El Assal, CEO and Managing Director of Misr Italia, added that sustainability was a consideration in all their projects due to high maintenance costs and operating expenses. They began their sustainability journey approximately four years ago, focusing on sustainability from the inception of their designs. They questioned whether the design itself was sustainable or not, emphasizing that sustainability is no longer a luxury but a necessity.
Mark Wyllie, CEO of Beyti and a subsidiary of Almarai, shared his philosophy that when we prioritize sustainability, everyone benefits. He emphasized the importance of realizing that the world continues after us and pondering the impact we leave behind. This transformative thinking propelled Beyti from the third position in the yogurt and juice industry to the number one spot.
Tarek Kamel, Chairman and CEO of Nestle Egypt and Sudan, also emphasized the importance of sustainability as an integral part of our lives. He stressed the need for global awareness about sustainability to address the perils of carbon emissions and non-renewable energy sources. “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs” is the essence of sustainable development. In terms of wealth generation, job creation, and increased export revenues, the creative economy isn’t just one of the fastest-expanding parts of the global economy; it also fosters innovation and creativity, essential components for inclusive and sustainable progress, empowering individuals to take charge of their own development.
