Egypt Financial Regulatory Authority moves to operationalise a regulated voluntary carbon market with project registrations and accreditation of three verifiers

The Egypt Financial Regulatory Authority (FRA) used a keynote speech at a carbon certificates forum to outline progress in building Egypt and Africa’s first organised and supervised voluntary carbon market, positioning it as a channel to cut emissions and support green financing. The FRA chair also flagged that the next phase will intensify awareness and knowledge-building on how economic entities can use the voluntary carbon market, alongside improved data to support carbon-reduction policy. The framework described includes treating carbon emission reduction certificates as a financial instrument, using the Egyptian Exchange as the trading platform, and operating through a dedicated supervisory committee. The FRA has issued rules for listing and delisting carbon emission reduction certificates, set standards for accrediting local voluntary carbon registries as electronic central depositories, and approved trading and settlement rules after consultations. The supervisory committee has approved the registration of several projects in the carbon emission reduction projects database, with work under way to bring their voluntary certificates to trading, and the FRA has also set eligibility criteria for validation and verification bodies and accredited three entities (two local and one foreign). In parallel, the FRA referenced guidance and training for supervised financial institutions, including through the Regional Center for Sustainable Finance, and highlighted the need for sufficient high-quality certificates supported by robust infrastructure, accurate data and disclosures, and an updated database, particularly for the agriculture sector.