FRA finalizes requirements for launching 1st voluntary carbon certificate trading market
Updated 8/11/2024 12:01:00 PM
Arab Finance: The Financial Regulatory Authority (FRA), in cooperation with the Ministry of Environment, has completed all the regulatory and procedural requirements for registering carbon emission reduction projects and launching the first market to register, issue, and trade voluntary carbon reduction certificates in Egypt and Africa, as per a statement.
The new market will bolster the country’s negotiations regarding the requirements for lowering the carbon footprint of commodities exported abroad, FRA’s Chairman Mohamed Farid stated.
On July 23rd, the FRA issued requirements for brokerage firms aiming to trade carbon emission reduction certificates,
On August 28th, 2023, the FRA issued carbon credit verification and certification standards for local and foreign authorities aiming to issue voluntary carbon credits.
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