Egypt’s FRA executes sale of 350 carbon certificates

Egypt’s Financial Regulatory Authority (FRA) announced the sale of 350 carbon reduction certificates within the Minya Project, one of the Egyptian Bio-Dynamic Association’s carbon reduction initiatives.

The deal, executed for the Insurance Federation of Egypt, was carried out via the Pre-Arranged Deals mechanism by Beltone Securities Brokerage, licensed by the FRA to trade voluntary carbon certificates.

This transaction aligns with the FRA’s ongoing efforts to accelerate the establishment of a regulated voluntary carbon market.

The deal is being implemented in two phases, with the initial 350 certificates already completed and the remainder set for execution in the coming days.

In August 2024, the FRA, under the leadership of Chairman Mohamed Farid, launched Egypt’s first voluntary carbon market, with the market commencing operations by facilitating three trades of carbon reduction certificates.

Attribution: FRA

Subediting: M. S. Salama