Egypt bourse signs Marrakech Pledges to promote green markets in Africa

Egyptian bourse has signed Wednesday Marrakech pledge to promote green capital markets in Africa” during the Parties Conference for climate change COP22 held in Marrakech, Morocco, on November 7-18.

Mohamed Omran, chairman of the Egyptian stock Exchange, has signed the pledges, as part of the Egyptian bourse’s contribution to support sustainability in the securities markets internationally and regionally.

Other stock exchanges, including the Casablanca Stock Exchange, Tunis Stock Exchange, and Nigeria Stock Exchange have signed the pledges.

In addition, the Supervisory authorities of the capital markets, also signed the pledge including the Egyptian Financial Supervisory Authority (EFSA) and Morocco’s capital market.

EGX’s signature on pledges of Marrakech and its participation in the conference come to enforce the efforts in its contribution to the preparations for the conference during July. It is also a commitment to the promotion of green finance in the African capital markets, which comes under the title “open capital markets in countries of the South towards climate change.”

The Parties Conference, the United Nations conference to strengthen the Climate, COP22 held in Marrakech, Morocco, comes after the launch of implementing Paris agreement on climate. It was approved at a conference COP21 parties that was followed by EGX signing on the agreement.

Marrakech conference focused on the activation of Paris Agreement and the mechanism for integration of the efforts of the parties and non-parties in the field of environment and to speed up concrete initiatives and the development of private financing channels in the most vulnerable countries to climate change.