FRA amends listing rules for carbon emission reduction certificates on EGX
Updated 11/12/2024 1:54:00 PM
Arab Finance: The Financial Regulatory Authority (FRA) has amended the regulations governing the listing and delisting of carbon emission reduction certificates on the Egyptian Exchange (EGX), as per a statement.
The authority also issued new criteria for verifying and certifying bodies in carbon reduction projects.
These amendments, issued under decisions No. 252 and 253 of 2024, aim to streamline registration processes, encourage investments in emission reduction, and enhance the local infrastructure for certifying carbon-related initiatives.
A key amendment to decision No. 31 of 2024 allows carbon reduction projects to be registered in the authority’s database even before certification reports are issued, provided that these reports are submitted within one year of registration.
Failure to meet this requirement will render the registration null, though extensions may be granted under justified circumstances accepted by the FRA.
This change is intended to incentivize companies to reduce emissions by offering a path to recoup part of their investments in emission reduction.
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