FRA issues standards for adopting local voluntary carbon registries
Updated 3/10/2024 2:43:00 PM
Arab Finance: The Financial Regulatory Authority (FRA) has issued a resolution to regulate the standards for accrediting the authority’s voluntary carbon records, as per a statement on March 10th.
The step will enable the authority to complete all regulatory and executive requirements for the voluntary carbon market, especially after issuing the rules for registering emission reduction certificates on the Egyptian Exchanges (EGX) in preparation to begin trading on it.
The move comes in support of the Egyptian government’s efforts to reduce carbon emissions.
Voluntary carbon records are one of the basic and necessary components for the operation of the voluntary carbon market, whose role is to record carbon emission reduction projects.
The international voluntary carbon registers, recognized by the International Carbon Reduction and Offset Alliance, are accredited by the FRA without the need to fulfill any requirements.
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