During a press conference on Tuesday 13 August, Rania Al-Mashat, the Minister of Planning and Economic Development, announced the launch of the first market for issuing and trading carbon reduction certificates in Egypt.  This new market will facilitate the registration, issuance, and trading of carbon credits, incentivizing businesses and individuals to reduce their carbon footprints. It is expected that the market will attract domestic and international investors, stimulate green innovation, and create new job opportunities.  Additionally, it will contribute to Egypt’s efforts in achieving its Nationally Determined Contributions (NDCs) to reduce greenhouse gas emissions. The launch of the carbon market aligns with Egypt’s Vision 2030 and the National Climate Change Strategy 2050, as well as recommendations from international organizations such as the World Bank and OECD.  Al-Mashat emphasized that the establishment of this market is the result of collaboration between all relevant parties, including development partners.  She highlighted the role of the Development Policy Financing Program, implemented with the World Bank, in supporting the launch through structural reforms and technical assistance. Al-Mashat noted that the new carbon market will bolster Egypt’s regional leadership in the green economy, as it provides…

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