Since the landmark Climate Change Conference (COP 27) in Sharm El-Sheikh, Egypt has been on a mission to revolutionize its carbon trading market. This journey began with Prime Ministerial Decree No. 4664 of 2022, which set the stage for a voluntary carbon market platform within the Egyptian Stock Exchange. Recently, the Egyptian Financial Regulatory Authority introduced a series of groundbreaking regulations to create a robust framework for the accreditation, issuance, listing, delisting, and trading of carbon emissions reduction certificates.

Recently, the Egyptian Financial Regulatory Authority has introduced a series of groundbreaking regulations to create a robust framework for the accreditation, issuance, listing, delisting, and trading of carbon emissions reduction certificates. On 13 August 2024, the FRA officially launched the first regulated voluntary carbon market. These steps underscore Egypt’s dedication to sustainable development and its ambition to lead the carbon trading market in the Middle East and Africa.

On 27 January 2024, Law No. 2 of 2024 was issued (“Law”), providing green hydrogen and derivatives projects with certain incentives. These incentives are extended not only to green hydrogen and derivatives projects (such as green ammonia and green methanol), but also to the upstream and midstream facilities, of which 95% of the output is to service green hydrogen and derivatives projects and projects exclusively carrying out transportation, storage and distribution of green hydrogen and its derivatives in Egypt. The incentives also extend to projects that directly and exclusively manufacture production input and supplies for the midstream and downstream facilities for which a cabinet decree has been issued. The Law also applies to future expansions of the aforementioned projects.

On 27 January 2024, Law No. 2 of 2024 was issued (“Law”), providing green hydrogen and derivatives projects with certain incentives. These incentives are extended not only to green hydrogen and derivatives projects (such as green ammonia and green methanol), but also to the upstream and midstream facilities, of which 95% of the output is to service green hydrogen and derivatives projects and projects exclusively carrying out transportation, storage and distribution of green hydrogen and its derivatives in Egypt. The incentives also extend to projects that directly and exclusively manufacture production input and supplies for the midstream and downstream facilities for which a cabinet decree has been issued. The Law also applies to future expansions of suchprojects.