EGX: E-systems to be developed to assess carbon footprint of firms

22 / 06 / 2022

By Marwa Nassar - -

Egyptian Exchange (EGX) Chairman Mohamed Farid said efforts are underway to develop electronic systems to assess the carbon footprints of companies.

He said a central database of companies interested in cutting carbon emissions will be secured in order to help most committed firms achieve financial benefits.

Farid said this goes in line with the state’s vision and ongoing preparations for the United Nations Climate Change Conference (COP27) in November.

The EGX chairman made the remarks during the first conference organized Alam Al Mal newspaper under the theme of “The path towards climate summit and achieving sustainable development for new republic.”

Farid said capital markets help companies achieve the best levels of good governance as well as standards of disclosure and transparency, expounding that posting people on the company’s activities boosts trading of its stakes and makes it attractive to more local and foreign investors.