Egypt’s Minister of Planning and Economic Development, Rania Al-Mashat, has revealed that carbon credit trading could potentially reduce the global cost of implementing Nationally Determined Contributions (NDCs) by more than half, leading to savings of up to $250 billion by 2030.
A natural landscape of Wadi el Gemal National Park in Egypt. AI generated picture.
This announcement was made during the Financial Regulatory Authority’s (FRA) conference, which celebrated the launch of Egypt’s first regulated carbon market. Al-Mashat highlighted the market's significant role in boosting the green economy’s share of the national GDP and attracting more green investments.
She acknowledged the World Bank’s crucial technical support in establishing this voluntary carbon market in Egypt, underscoring it as a collaborative effort that positions the country as a regional leader in the green economy.
Read more: Qantas, Rio Tinto, and BHP back $165m nature-based carbon fund
In addition, the ministry is collaborating with the European Union through the Technical Assistance and Information Exchange Instrument (TAIEX) to support the Carbon Border Adjustment Mechanism (CBAM), which will benefit key national entities.
Al-Mashat also emphasised the importance of energy projects under the Nexus of Water, Food, and Energy (NWFE) programme, which is essential to Egypt’s environmental strategy and aims to cut carbon dioxide emissions by 17 million tonnes annually.
Read more: Reforestation and afforestation projects around the world: success stories and lessons learned
The minister’s comments reflect a broader commitment to sustainable growth and the green transition, while also opening doors for enhanced South-South cooperation with African nations.
DGB Group's carbon projects are dedicated to preserving nature and fostering biodiversity through nature-based solutions. Our efforts enable businesses and individuals to address their carbon footprints while contributing positively to the environment. At DGB, carbon compensation goes beyond mere offsetting; our premium projects enrich biodiversity, restore ecosystems, and uplift local communities. Our high-quality carbon units are verified by leading agencies, ensuring their quality and long-term impact.
Join DGB in the quest for a greener future
