Egypt's FRA facilitates sale of 350 carbon emission reduction certificates

The Egyptian Financial Regulatory Authority (FRA) has facilitated the sale of 350 carbon emission reduction certificates from the Minya complex project, a carbon reduction initiative under the Egyptian Biodynamic Association (EBDA), according to a statement.

Registered in the FRA’s carbon emissions reduction database, these certificates were sold to the Insurance Federation of Egypt.

The transaction, conducted under the pre-arranged deals mechanism, was conducted by Beltone Securities Brokerage, a licensed company authorized to trade voluntary carbon reduction certificates by the FRA.

The deal is part of a two-phase process, which will be fully completed in the coming days, with the first phase covering the 350 certificates.

This transaction marks the Insurance Federation of Egypt’s contribution to reducing carbon emissions from flights used to transport delegates for the Sharm El Sheikh Insurance Conference, with the aim of making future conferences "net zero".