The Financial Regulatory Authority (FRA) registered 12 projects in the Authority’s carbon emissions reduction projects database, bringing the total number of registered projects to 14 projects, according to a statement by Chairman of FRA, Mohamed Farid.

He mentioned that there were 12 trading operations in the market, with approximately 4,500 voluntary carbon certificates in circulation and 18,375 carbon certificates registered in the authority's database.

This came during Farid’s participation in one of the sessions organized by the Egyptian-British Business Association in London, during which he reviewed the efforts to launch the first voluntary carbon market in Egypt and Africa.

Earlier in August, The FRA has announced the successful completion of regulatory requirements to launch Egypt’s first regulated market for voluntary carbon reduction certificates.

In collaboration with the Ministry of Environment, the FRA has established the necessary framework, while the Egyptian Exchange (EGX) has developed a trading platform for these certificates, according to an official statement from the FRA.

Since its launch, the voluntary carbon market has had several large trades such as 500 certificates sold to Isis Food Industries at EGP 1,040 each and 1,500 certificates purchased by DALTEX at $18 each.