1st carbon certificates trading platform launched at COP27

09 / 11 / 2022

By Marwa Nassar - -

The first voluntary carbon certificates platform was launched at the 27th United Nations Climate Change Conference (COP27).

Prime Minister Moustafa Madbouli marked the launch of the platform with the participation of the private sector.

The launch ceremony was attended by Planning Minister Hala Saeed, Environment Minister Yasmine Fouad and Board Chairman of the Financial Regulatory Authority Mohamed Farid.

Prime Minister Moustafa Madbouli said the platform represents an innovative tool to help secure finance for climate-related projects of both the private sector and the government.

He underlined the importance of the event which will offer greater chance for the private sector’s commitment to confronting climate change within the framework of the updated national contribution plan.

For her part, Environment Minister Yasmine Fouad said the platform represents an additional option for mobilizing more resources.

Fouad said the voluntary carbon market represents part of Egypt’s commitments to the Paris climate agreement.

She added that the carbon certificates trading market represents an innovative finance tool and this opens the door before African countries to contribute to trading carbon certificates trading.

Planning Minister Hala Saeed said the platform launch represents an additional option for mobilizing more resources.

She noted that most of carbon certificates available are of the private sector.