Daltex, Egypt’s leading agribusiness player and the largest potato exporter globally, proudly announces its pioneering initiative as the first Egyptian private sector company to purchase international carbon credits through Egypt’s voluntary carbon market, the 1st of its kind in Africa.
Launched and regulated by the Financial Regulatory Authority (FRA) and the Egyptian Exchange (EGX), this groundbreaking voluntary carbon market marks a significant step towards a robust carbon credit economy in line with Egypt’s Green Initiative and Vision 2030.
In this milestone deal, Daltex has acquired 1,500 international Verra carbon credits from VNV Advisory, valued at over EGP 1.3 million (USD 27,000), from the Punjab Agroforestry Project in India.
This project, spanning over 500,000 hectares, is dedicated to enhancing small-holder farmers’ incomes through carbon revenue and uplifting their livelihoods.
This strategic move is set to strengthen Daltex’s position in the global market by enhancing the sustainability of its operations, thereby increasing the export potential of its agricultural products. Additionally, it supports Egypt’s leadership in developing a local carbon market, ensuring that the benefits of carbon trading directly contribute to the national economy.
The Punjab Agroforestry Project, led by VNV Advisory, is instrumental in Daltex’s sustainability journey.
The project aims to diversify traditional farming practices, primarily the rice-wheat rotation, by introducing a mix of native and non-native tree species for plantation. This approach enhances carbon sequestration, supporting the long-term sustainability of agricultural practices in the region.
