Egypt’s FRA approves 2 new carbon reduction projects

Egypt’s Financial Regulatory Authority (FRA) approved the registration of two new carbon emission reduction projects in its database, the regulator announced following its ninth supervisory committee meeting on Sunday.

The projects include Oman Blue Carbon from Oman, registered under the Vera standard, which aims to reduce 130,723 tons of CO₂ annually, and Solar DC from India, registered under the Gold Standard, targeting a reduction of 16,692 tons per year.

The FRA also approved Jordanian company Ampere as an accredited verifier for carbon reduction projects.

The total number of voluntary carbon reduction projects registered with the FRA has now reached 28, with over 170,000 carbon credits available for trading on Egypt’s voluntary carbon market.

FRA Chairman Mohamed Farid highlighted Egypt’s commitment to accelerating carbon market development, aligning with global decarbonisation goals and attracting new investors to the sector.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama