Cairo 22nd May 2024:
Chapter Zero Egypt hosted Dr. Ahmed Rushdy, Sustainability Advisor to the Chairman of the Financial Regulatory Authority (FRA) who presented “Carbon Credits & Voluntary Carbon Markets,” in a comprehensive presentation encompassing the FRA efforts in this domain.
Rushdy’s expertise provided attendees with a deeper understanding of the mechanisms and benefits of voluntary carbon markets in a seminar held in Elsewedy Electric premises in May 2024.
The seminar brought together industry leaders, stakeholders, and sustainability enthusiasts to delve into the intricacies and impact of voluntary carbon markets. Rushdy expertly covered efforts by the FRA to address this new market and highlighted significant initiatives and regulatory measures undertaken by the Authority to support and regulate carbon markets. He identified key players and the processes involved in voluntary carbon markets (VCM’s), emphasizing their roles and contributions by defining the VCM and explaining the credits mechanism and how these can contribute to offsetting emissions.
The session also explored how Carbon markets function and their global impact along with their significance in combating climate change along with offering insights into the trading dynamics of carbon credits, the values, volumes and trading prices of VC Credits with an analysis of current market statistics. The presentation included key scientific data and the impact of global climate shifts, emphasizing the urgency of addressing climate priorities, such as greenhouse gas emissions and their implications on policy and business while highlighting the need for robust mitigation strategies. The Paris Agreement targets and their significance were shared, stressing the importance of global cooperation and understanding worldwide trends and data.
Chapter Zero Egypt is the first in Africa & the Middle East and the 27th of the Climate Governance Initiative’s global network to promote the adoption of the Principles for Effective Climate Governance published by the WEF in 2019. Its launch was supported by the EBRD to equip Board members with skills and knowledge to make addressing climate change a boardroom priority and provides a platform for dialogue, knowledge-sharing, and collaboration among business leaders to drive sustainable growth in the face of evolving environmental challenges.
Seminars and webinars held by Chapter Zero Egypt are posted on the website and more information on upcoming events and membership application, can be found by visiting http://chapterzeroegypt.org/
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