green for growth fund supports green pan service to recycle cooking oil in egypt
Partnership with Tagaddod a huge success in Egypt as cooking oil is recycled into biodiesel
250 tons of recycled oil results in approximately 750 tons reduction of CO2 emissions
Luxembourg, August 08, 2019 – The Green for Growth Fund’s (GGF) Technical Assistance Facility supported the awareness campaign of a recycling service in Egypt called GreenPan. It was initiated by Tagaddod who was one of the finalists of the 2018 CLIM@ competition for innovative green businesses and projects. GreenPan is now a market-first household door to door collection service for used cooking oil in Egypt, which is then recycled to make biofuel.
Tagadod collects used cooking oil from both big producers such as restaurants and hotels, as well as small households. Tagaddod estimates to create awareness via their online campaign with over 5 million households throughout Egypt and anticipates 50,000 new customers who will use GreenPan’s services. These users are expected to collect around 250 tons of used oil per annum, which translates into saving around 750 tons of CO2 emissions through the recycling into biofuel.
To grow the service, GreenPan initiated an awareness campaign on Facebook and Instagram targeting the Egyptian public, in addition to billboards and flyers. The Egyptian Ministry of Environment and the Waste Management Authority of Egypt have endorsed the campaign and is supporting Green Pan’s activities by promoting it on their websites.
GGF Technical Facility Chairman Reinhold Strauss said: “We are proud to be supporting services like GreenPan as it encourages recycling of a common product found in most households and thus advances resource efficiency in the country which is part of our mission.”
about the GGF TAF
The GGF Technical Assistance Facility plays a key role in supporting the fund’s promotion of energy efficiency, renewable energy and improved resource management by providing tailored advisory to the fund’s partners, which include financial institutions, project developers and key energy sector players, to produce synergy with investments of the fund.
The facility operates hand in hand with the GGF, complementing its investments with the following activities: capacity development of GGF partners; validation and monitoring of energy and resource savings and CO2 emission reductions; strategic advice based on research; increasing the awareness and acceptance of green solutions in the financial sector and among the public.
Managed by impact asset manager Finance in Motion, the facility operates independently from the fund, governed by a fiduciary arrangement under Luxembourg law. The Technical Assistance Facility Committee, which represents the initiators of the fund and donors of the facility, takes all strategic and technical decisions with respect to the facility and provides strategic guidance to the facility manager.
For more information on Finance in Motion, please visit: www.finance-in-motion.com
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