الهيئة العامة للرقابة المالية

• The approvals were granted during the ninth meeting of the Carbon Credit Regulatory Committee (CCRC) chaired by FRA Chairman and attended by all relevant stakeholders.
• FRA is accelerating the activation of the Voluntary Carbon Market to support carbon neutrality efforts.
• India’s Solar DC project will introduce 10,000 carbon credits for trading on the carbon credit market
• Ampere, a Jordanian company, was approved as a Validation/Verification Body (VVB).
• FRA’s database now includes 28 registered carbon reduction projects and over 170,000 carbon credits are now available for trading in the Voluntary Carbon Market.
• Mohamed Farid, FRA Chairman emphasized the Authority’s commitment to activate the Voluntary Carbon Market and enhance its role in supporting Egypt’s carbon neutrality goals.

Carbon Credit Regulatory Committee (CCRC), chaired by Dr. Mohamed Farid, convened its ninth meeting on Sunday, March 23, 2025, during which it approved the addition of new carbon credit projects to the Financial Regulatory Authority’s (FRA) expanding database. Additionally, the Committee granted registration to Ampere, a Jordanian company, as an accredited Validation/Verification Body (VVB) for carbon reduction projects. Key stakeholders, including representatives from FRA, Ministry of Environment, Egyptian Exchange and experts in the field, attended the meeting.

“Oman Blue Carbon” project, registered under FRA-accredited Vera registry, is estimated to achieve an annual reduction of 130,723 tons of carbon dioxide equivalent, demonstrating a significant impact on mitigating greenhouse gas emissions. Similarly, “Solar DC” project from India, registered under FRA-accredited Gold Standard registry, is expected to reduce carbon emissions by 16,692 tons annually. Thus, the number of voluntary carbon reduction projects registered in the Authority’s database has reached approximately 28 projects, with more than 170,000 credits issued and available for trading on the platform designated for the carbon credit trading market.

Carbon Credit Registries are defined as centralized electronic record-keeping systems that include records for issuing, registering and tracking the chain of ownership transfer of carbon credits resulting from the implementation of carbon reduction projects, in accordance with methodologies issued by Standard Programs.

Oman Blue Carbon project, based in Oman and operating within the agricultural sector, encompasses approximately 5,000 acres. To date, 300,000 seedlings have been planted, with plans to double this figure by year’s end. Conversely, Solar DC project from India, in the renewable energy sector, will facilitate trading of approximately 10,000 carbon credits on the designated carbon credit trading platform. This project aims to mitigate carbon emissions through renewable energy generation.

Ampere, a Jordanian company, was approved by the Committee as a Validation/Verification Body (VVB) for carbon reduction projects, after their representative delivered a detailed presentation of their business model and operational reach, and the committee confirmed their expertise and experience.

Dr. Mohamed Farid, FRA Chairman stated that the addition of new carbon reduction projects to FRA’s database reinforces the Authority’s to expedite the Voluntary Carbon Market. By pioneering the first organized Voluntary Carbon Market in Egypt and Africa, FRA aims to empower implementers and financiers of carbon reduction projects, whether in agriculture, industry, or other sectors, to issue carbon credits and trade them on designated trading platforms, attracting new local and international investors.

He emphasized that the Authority is committed to strengthen Egypt’s contribution to global carbon neutrality and emissions reduction, a critical objective shared by nations worldwide to safeguard a sustainable planet. This initiative seeks to counteract the severe consequences of escalating global temperatures driven by carbon emissions, including increased wildfires and floods that disrupt business operations.

In alignment with the COP27 announcements, this initiative seeks to empower developers and financiers of carbon reduction projects across agricultural, industrial, and other sectors to issue and trade carbon credits on designated platforms. This aims to attract a broader spectrum of local and international investors, generating additional revenue for project developers and stimulating investment in these projects, thereby establishing Egypt as a leader in sustainable economic growth.

Prime Minister’s Decree No. 4664 of 2022, amending the Capital Market Law (No. 95 of 1992), laid the groundwork for this new market by recognizing carbon credits as financial instruments. Subsequently, the stock exchange, based on the Authority’s Board proposal, established a trading platform and supervisory committee. Following this, FRA formed Carbon Credit Regulatory Committee (CCRC), chaired by FRA Chairman, with representatives from FRA, Ministry of Environment, EGX and carbon market experts.

To expedite the launch of the new Carbon Market and bolster Egypt’s emission reduction efforts, FRA established clear registration criteria for Validation/Verification Bodies (VVBs). This led to the Committee’s receipt of applications and subsequent registration of four entities (two domestic and two international) after thorough interviews.

FRA further developed the market by issuing listing and delisting rules for carbon credits on Egyptian Stock Exchanges, alongside accreditation standards for local voluntary carbon registries. These registries, serving as centralized electronic record-keeping systems, track the issuance, registration and ownership transfer of carbon credits, adhering to standard methodologies. Simultaneously, FRA approved trading and settlement rules for carbon credits on Egyptian stock exchanges, following extensive consultations.