Prime Minister, Dr. Mustafa Madbouli, today, participated in the session on the launch of the Voluntary Platform for Carbon Certificates Trading, during the third day of events of the COP27 Climate Summit, in the presence of Dr. Hala Al-Saeed, Minister of Planning and Economic Development, and Dr. Yasmin Fouad Minister of the Environment, Dr. Mohamed Farid Saleh, Chairman of the General Authority for Financial Control, and Mr. Rami Al-Dakani, President of the Egyptian Stock Exchange, and Mr. Ayman Suleiman, Executive Director of the Sovereign Fund of Egypt, along with a number of investors and representatives of international entities and institutions.
The Prime Minister opened the session expressing his happiness to attend this important session to launch the first voluntary carbon certificate trading platform, hinting that this mechanism will be an innovative tool through which funding can be made available to the private sector as well as the government to finance and implement related projects I’m on climate change.
He added: I would like to hear from you today on how to accelerate this mechanism. I know that there are already success stories in this framework, and that the private sector, will be the biggest beneficiary of this platform.
Continued: We are keen during the coming period that whenever we have the opportunity, we will work on empowering the private sector more during the next phase, so that it will be the main outlet for all kinds of sustainability projects.
On her part, the Planning Minister said that the voluntary platform for carbon certificates trading could be considered an additional option that contributes to gathering more resources, adding that now available offer of carbon certificates mostly comes from the private sector, and in Egypt there are many private sector companies that Made steps in this frame.
During the session, the Minister of the Environment confirmed that the voluntary carbon market is part of Egypt’s Paris Agreement commitments, outlining the role that the Ministry of Environment plays in this area by providing support and monitoring the operations done to ensure transparency and credibility, and working on the availability of information At and data that enables you to determine investment opportunities The promise.
The Ministry of Environment is working hard to minimize all difficulties facing the climate work environment in Egypt, under the slogan “Together to Implement” and within the framework of both the National Climate Change Strategy, the nationally specified Contribution Plan and the Cat Climate Investment Plan, the Minister added. Private message and offer investment projects and open a voluntary market for exchange Carbon certificates, in order to combat climate change and improve citizen’s lives, confirm that this indicates Egypt’s interest in all topics and cooperation with everyone in order to achieve a joint principle of implementation, which we hope to reach at the conclusion of this conference.
The carbon certificate trading market is one of unconventional innovative financing mechanisms such as grants, loans and private sector investments, which opens up African countries where carbon certificate trading processes contribute to obtain extermination material Projects to address the adverse effects of climate change.