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EGX activates AFRICARBONX, to launch educational content about Voluntary Carbon Market
The Egyptian Exchange (EGX) has activated the African Voluntary Carbon Market (AFRICARBONX) and is preparing to launch a full educational content about Voluntary Carbon Market.
EGX Chairman Ahmed Sheikh said the African Voluntary Carbon Market is ready to start trading and the first transaction is expected soon.
Sheikh said EGX is working hard to secure new financial tools, adding that this market represents a quantum leap in efforts to promote sustainability and cut greenhouse gas emissions.
The first announcement of launching AFRICARBONX on the fringe of the 27th United Nations Climate Change Conference (COP27) which was held in Egypt’s Red Sea resort city of Sharm in Sheikh in 2022.
AFRICARBONX will act as a platform for trading certificates for cutting carbon emissions in African countries, he said, adding that this will bolster Egypt’ s economic role in Africa.
EGX and the Financial Regulatory Authority (FRA) have issued regulations for registering and trading carbon certificates.
EGX is currently holding preliminary discussions with a number of companies listed on EGX to encourage them to issue carbon emissions reduction certificates.
Within this context, EGX is gearing up to launch a series of videos with an integrated cultural content on carbon markets.
These videos will be available on the website of EGX and AFRICARBONX and their social media.
EGX seeks promoting awareness in business communities about the importance of carbon markets and their role in achieving sustainable development.
This will contribute to creating a more sustainable environment and economy for the coming generations.
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