Egypt launches 1st voluntary carbon certificate trading market
Updated 8/13/2024 1:27:00 PM
Arab Finance: Egypt has officially launched the first voluntary carbon market in the country and Africa, as per a statement.
Trading on carbon emission reduction certificates has kicked off on August 13th.
The market is regulated and monitored by financial market regulatory authorities in Egypt and Africa.
On August 11th, Egypt’s Financial Regulatory Authority (FRA), in cooperation with the Ministry of Environment, completed all the regulatory and procedural requirements for registering carbon emission reduction projects and launching the voluntary carbon emission reduction certificates market.
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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