The Egypt Financial Regulatory Authority (FRA) took part in a tree-planting initiative at Friendship Garden in South Sinai to help offset carbon emissions from aircraft used to transport guests to the seventh Sharm El Sheikh Insurance and Reinsurance Forum, following an assessment of those travel-related emissions. The initiative was held as part of the forum taking place from 8 to 10 November under the patronage of the Prime Minister. The programme is themed “Insurance in Light of Global Changes” and is set to cover interconnected emerging risks and the insurance sector’s response to climate, geopolitical and economic risks, as well as product design for millennials and the “silver generation”, and the implications of artificial intelligence and digital transformation. FRA linked the initiative to its broader work on emissions reduction, including launching what it described as the first organised and supervised voluntary carbon market in Egypt and Africa after completing the necessary legislative and regulatory frameworks. Through its Regional Center for Sustainable Finance, FRA is coordinating with the Federation of Egyptian Insurance Companies on emissions measurement and identifying required reductions, including through tree planting or the purchase of carbon emission reduction certificates.
Egypt Financial Regulatory Authority 2025-11-09
Egypt Financial Regulatory Authority joins tree-planting initiative to offset Sharm El Sheikh insurance forum flight emissions
The Egypt Financial Regulatory Authority joined a tree-planting initiative at the Sharm El Sheikh Insurance and Reinsurance Forum to offset carbon emissions from guest travel. This aligns with FRA's broader emissions reduction efforts, including launching Egypt and Africa's first voluntary carbon market. The forum, themed “Insurance in Light of Global Changes,” addresses emerging risks and the insurance sector's response to climate, geopolitical, and economic challenges.