The Financial Regulatory Authority (FRA) has approved three entities to be registered on the list of verification and certification bodies for carbon emission reduction projects, for the first time in the Egyptian market. This is part of the Authority’s efforts to activate the voluntary carbon market in Egypt. The approved entities are the Egyptian Center for Organic Agriculture (COAE) and TUV NORD Egypt, which are registered on the list of Egyptian verification and certification bodies, and TUV NORD Cert, which is registered on the list of foreign verification and certification bodies. Mohamed Farid, Chairperson of FRA, said that this is the first time that the Authority has issued approvals for verification and certification bodies for carbon emission reduction projects in the Egyptian market. The committee is responsible for setting the rules for issuing and trading carbon emission reduction certificates and supervising and monitoring them.

Source: Daily News Egypt February 15, 2024 11:59 UTC