Egypt’s FRA to introduce Carbon Emission Certificates

06 / 08 / 2022

By Marwa Nassar - -

Egypt’s Financial Regulatory Authority (FRA) plans to introduce Carbon Emission Certificates to encourage companies to cut greenhouse gas emissions, especially through using modern technology contributing to this end.

This falls within the framework of the authority’s keenness to intensify efforts to realize sustainability in the non-banking financial sector in general and in the capital market in particular through introducing new financial tools and mechanisms that allow securing needed finance for projects that serve the United Nations Sustainable Development Goals (SDGs), especially with regard to climate change, women empowerment and prompting gender equality.

Achieving this requires huge financing that governments cannot secure alone.

FRA will also seek providing needed incentives for specialized investment and charity funds in order to secure needed financing serving the SDGs.

It will also work on developing new kinds of sustainable development bonds in accordance with Egypt Vision 2030.

FRA seeks to activate the role of investment funds to support Egypt Vision 2030, especially in the fields of sustainability, confronting climate change and empowering women.