Egypt’s 1st carbon market goes live with total 3 major deals

The Financial Regulatory Authority (FRA) announced the activation of Egypt’s first voluntary carbon market by executing three transactions involving carbon emission reduction certificates.

In the first transaction, Isis Food Industries purchased 500 voluntary carbon certificates from the Egyptian Association for Organic Agriculture (EBDA). This deal was facilitated by Beltone Financial, with the certificates priced at EGP 1,040  each.

In a second transaction, Deltax acquired approximately 1,500 certificates from VNV Advisory. The price for these certificates was set at $18 each.

The third transaction saw SCB Environmental Markets complete a deal through CI Capital. The specific details of the pricing for this transaction were not disclosed.

Attribution: The Egyptian Cabinet

Subediting: M. S. Salama