Article

Egypt's Financial Regulatory Authority (FRA) requires large non-banking financial companies to disclose their carbon emissions and offset 20% by purchasing carbon credits. This regulation, effective after publication in the Official Gazette, aims to enhance ESG practices and transparency in the financial sector.

Companies must report emissions under Scope 1 and Scope 2 standards annually, with compliance affecting operating licenses. The move is expected to stimulate demand in Egypt's voluntary carbon market, which currently has 170,000 carbon credits from 34 projects.