الهيئة العامة للرقابة المالية

• The tree-planting initiative came after measuring carbon emissions resulting from the use of aircraft to transport guests of the 6^th Sharm Rendezvous 2024

Dr. Mohamed Farid, FRA Chairman, Alaa El-Zoheiry, Chairman of Insurance Federation of Egypt (IFE) and other insurance industry leaders and South Sinai officials participated in tree-planting initiative to reduce carbon emissions of the conference.

Tree-planting initiative aligns with FRA’s ongoing efforts to reduce carbon emissions. The Authority has launched the first Voluntary Carbon Market regulated by capital market regulators in Egypt and Africa, following the completion of all necessary legislative and regulatory frameworks. This new market is designed to support Egypt’s efforts to achieve carbon neutrality. Through its Regional Center for Sustainable Finance (RCSF), FRA will collaborate with the Insurance Federation of Egypt (IFE) to enhance sustainability across various sectors of the Egyptian economy. This includes measuring carbon emissions and implementing carbon reduction strategies, such as tree planting and carbon credit purchases.