The Clap
The EGX is looking to establish a platform for trading carbon certificates through its subsidiary.
Carbon Certificates
Carbon certificates are obtained by companies that are unable to reduce carbon emissions in their production, in return for a fee.
These companies can then sell these certificates to other companies that need them, in order to reduce their carbon emissions.
The Deets
Sources say that the EGX is working with international parties such as the International Finance Corporation (IFC) and the London Stock Exchange regarding the new platform.
It is also expected that the platform will be on a regional level, not just a local one.
Why this Matters
The move reflects the government’s interest in the climate file and comes at the time of Egypt’s hosting of the COP27 climate summit.
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