FRA launches Egypt’s 1st regulated carbon market

Egypt’s Financial Regulatory Authority (FRA) has completed all regulatory and procedural requirements for registering carbon emission reduction projects and launching the first regulated market in Egypt and Africa for registering, issuing, and trading voluntary carbon reduction certificates.

The FRA has established this market in collaboration with the Ministry of Environment to support carbon reduction initiatives.

The new market allows project implementers and financiers to issue carbon reduction certificates for registered projects and sell them through trading systems set up by the Egyptian Stock Exchange.

This aims to attract local and international investors, boost investment in these projects, enhance Egypt’s leadership in this area, and support sustainable economic growth.

Chairman of the Financial Regulatory Authority, Mohamed Farid, stated that the new regulated market will support Egypt’s efforts in negotiations regarding the reduction of carbon footprints for exported goods, which may aid their market entry.

Attribution: The Egyptian Cabinet.