The Financial Regulatory Authority (FRA) has received two requests to establish investment funds in agriculture with a value of EGP 2bn, and the other in climate change response, the first of its kind in the Egyptian market, according to FRA Chairperson Mohamed Omran.
During a press conference to announce the capital market strategy for the next four years, Omran said that the authority submitted a request to the prime minister to amend the regulation of financial instruments related to sustainability, including sustainability, gender equality, and green bonds, as well as carbon credit.
Omran expects the amendment to be issued and that these new instruments would be made available next week.
He added that the authority continues to encourage companies to issue green bonds, and study the possibility of developing new financial instruments aimed at urging companies to reduce harmful carbon emissions. This would be made possible by adopting advanced technology to reduce carbon emissions that lead to global warming, and these certificates are known as carbon emissions certificates.