EGX signs MoU with GCC to scale up, accelerate regional climate action
The Egyptian Exchange (EGX) signed a Memorandum of Understanding (MoU) with Global Carbon Council (GCC), to promote regional climate actions and strengthen carbon markets regionally and globally.
The MoU was signed by GCC’s Founding Chairman, Yousef Alhorr, and EGX's Executive Chairman, Rami El‐Dokany.
As an outcome of this agreement, GCC‐issued carbon credits (CCs) will be listed on the EGX platform, thus expanding the marketplace's offerings to buyers seeking a diversified portfolio of CCs, the EGX noted in a statement.
It elaborated that the EGX will leverage GCC’s international profile to advance the growth of the carbon market in Africa and subsequently raise awareness among regional stakeholders, including governments, businesses, and investors, about the importance of use of market instruments to catalyze climate actions.