Egypt registers 18,375 carbon certificates in voluntary market

The Financial Regulatory Authority (FRA) has registered 18,375 carbon certificates in its voluntary carbon market database, marking a milestone in Egypt’s leadership in sustainable economic growth.

The FRA established a supervisory committee to oversee the trading platform, as well as the accreditation of verification and certification entities. So far, 4,500 carbon certificates have been traded. The statement came during the Egyptian-British Business Association’s Door-Knocking mission in London.

During the mission, FRA Chairman, Mohamed Farid, presented Egypt’s pioneering efforts in establishing the first organised and regulated voluntary carbon market in Africa.

According to Farid statements during the session, a total of 14 projects have been registered in this market, with 12 trading transactions executed. Farid emphasised the FRA’s regional leadership, highlighting how this initiative, following the COP 27 summit, enables project implementers to issue and sell carbon reduction certificates, attracting new categories of both local and international investors.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama