{"id":577023,"date":"2022-11-07T04:00:57","date_gmt":"2022-11-07T04:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/"},"modified":"2022-11-07T04:00:57","modified_gmt":"2022-11-07T04:00:57","slug":"egx-sets-up-company-to-manage-carbon-credit-exchange","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/","title":{"rendered":"EGX sets up company to manage carbon credit exchange"},"content":{"rendered":"<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>EGX teams up with Agricultural Bank, Enara Group to form carbon credit <\/strong><strong>company: <\/strong>An Egyptian Exchange (EGX) subsidiary has signed an agreement with the Agricultural Bank of Egypt and <a href=\"https:\/\/enaragroup.com\/\">Enara Group\u2019s<\/a> Libra Capital to establish Libra Carbon, the first Egyptian company to develop and issue carbon certificates, according to a <a href=\"https:\/\/bit.ly\/3Tb7Xkm\">joint statement<\/a>.<\/p>\n<p><strong>Expect a regional carbon exchange to follow:<\/strong> The move is a first step towards developing a voluntary, Africa-wide carbon credit exchange to encourage and diversify investment in the continent\u2019s green economy, EGX head Rami El Dokany said in the statement. Environment Minister Yasmine Fouad <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4710dd71-1594-4131-83f0-5ad78def718c\">last week said<\/a> Egypt would announce the exchange \u2014 which has been in the works <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/21\/environment-ministry-to-launch-egypts-first-carbon-trade-exchange\/\">since 2018<\/a> \u2014 at COP27.<\/p>\n<p><strong>How will it work? <\/strong>The company will serve as the building block for \u201can organized market for the trading of carbon certificates, which includes all the necessary components not only for trading but also for issuance,\u201d said FRA chief Mohamed Farid. We\u2019re still waiting for the details on how the company plans to value, issue, and allow the trading of carbon credits. We took a look at what a local carbon exchange could look like in our recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/908bdc20-5a28-465e-8048-a022330f6406\">Going Green<\/a> vertical.<\/p>\n<p><strong>There\u2019s a growing market for carbon credits \u2014 but it needs standardizing:<\/strong> \u201cThe volume of transactions associated with carbon certificates is growing at 20x annually,\u201d <a href=\"https:\/\/www.asharqbusiness.com\/article\/43748\">Bloomberg Asharq<\/a> quotes COP climate czar Mahmoud Mohieldin, who attended the signing ceremony, as saying. But trading prices vary widely, with a certificate for one ton of carbon emissions selling for anything from USD 2 to USD 100 across the continent, he added. The regional exchange will look to standardize prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EGX teams up with Agricultural Bank, Enara Group to form carbon credit company: An Egyptian Exchange (EGX) subsidiary has signed an agreement with the Agricultural Bank of Egypt and Enara Group\u2019s Libra Capital to establish Libra Carbon, the first Egyptian company to develop and issue carbon certificates, according to a joint statement. Expect a regional [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":577024,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7303],"tags":[102,68,72,76,105,2221,2918],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-egx","tag-enterpriseam","tag-financial-regulatory-authority","tag-mahmoud-mohieldin","tag-mohamed-farid","tag-rami-el-dokany","wpautop","entry"],"acf":{"mongo_id":"b570f5c3-cd03-4c17-a92e-ca6c18e21f0d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/107.jpg","photo_position":"above","related_issue":[577015],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EGX sets up company to manage carbon credit exchange - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGX sets up company to manage carbon credit exchange\" \/>\n<meta property=\"og:description\" content=\"EGX teams up with Agricultural Bank, Enara Group to form carbon credit company: An Egyptian Exchange (EGX) subsidiary has signed an agreement with the Agricultural Bank of Egypt and Enara Group\u2019s Libra Capital to establish Libra Carbon, the first Egyptian company to develop and issue carbon certificates, according to a joint statement. Expect a regional [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-07T04:00:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/107.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EGX sets up company to manage carbon credit exchange\",\"datePublished\":\"2022-11-07T04:00:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/\"},\"wordCount\":280,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/107.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"EGX\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"Mahmoud Mohieldin\",\"Mohamed Farid\",\"Rami El Dokany\"],\"articleSection\":[\"Capital markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/egx-sets-up-company-to-manage-carbon-credit-exchange\/\",\"name\":\"EGX sets up company to manage carbon credit exchange - 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The bourse is close to finalizing contracts with a Canadian fintech to supply the technology for the carbon credit platform, El Dokany said.Don\u2019t expect local carbon credits to\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/296.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577124,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/egx-announces-africa-carbon-market\/","url_meta":{"origin":577023,"position":1},"title":"EGX announces Africa carbon market","author":"enterpriseam admin","date":"10 November 2022","format":false,"excerpt":"The EGX yesterday announced it would set up Africa\u2019s first voluntary carbon market on the sidelines of COP27. The market will allow companies in Egypt and Africa working on emissions-reducing projects to sell certified carbon credits, which can then be bought by other companies wanting to offset their emissions, the\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/165.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584227,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/28\/global-carbon-council-to-list-carbon-credits-on-egx-plus-usaid-funding-for-tech-schools-azimut-app\/","url_meta":{"origin":577023,"position":2},"title":"Global Carbon Council to list carbon credits on EGX. PLUS: USAID funding for tech schools, Azimut app","author":"enterpriseam admin","date":"28 March 2023","format":false,"excerpt":"The EGX is gearing up to launch a voluntary carbon-trading platform","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/518.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578648,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/09\/egx-could-join-gulf-bourse-exchange-hub-report\/","url_meta":{"origin":577023,"position":3},"title":"EGX could join Gulf bourse exchange hub -report","author":"enterpriseam admin","date":"9 January 2023","format":false,"excerpt":"CAPITAL MARKETS- EGX looks to forge closer ties with Gulf counterparts: EGX officials are reportedly mulling onboarding the EGX to the Gulf\u2019s Tabadul regional exchange hub, Shorouk News reports citing EGX head Ramy El Dokany. The move would allow Egyptian and Gulf investors direct access to trading on the EGX\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/119.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548921,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/28\/ramy-el-dokany-is-the-new-head-of-the-egx\/","url_meta":{"origin":577023,"position":4},"title":"Ramy El Dokany is the new head of the EGX","author":"enterpriseam admin","date":"28 August 2022","format":false,"excerpt":"The EGX has a new boss: Rami El Dokany (LinkedIn) has been named head of the EGX for a one-year term by Prime Minister Mostafa Madbouly, according to a cabinet statement Thursday. 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