Egypt Launches Regulated Carbon Market in 2024
Egypt Launches Regulated Carbon Market in 2024
Egypt Launches Regulated Carbon Market in 2024
News summary

Egypt has launched its first regulated voluntary carbon market, following groundbreaking regulations introduced by the Egyptian Financial Regulatory Authority to facilitate the trading of carbon emissions reduction certificates (CERs). This initiative, part of Egypt’s strategy to lead the carbon trading market in the Middle East and Africa, aims to ensure transparency and efficiency in emissions trading. Meanwhile, the Campaign for Better Transport is advocating for a tax on zero-emission vehicles (ZEVs) to offset declining fuel duty revenues, proposing a per-mile charge to maintain road infrastructure funding. The trucking industry faces challenges ahead of new EPA emissions regulations in 2027, with rising equipment costs and the need for compliance with stringent NOx limits. Additionally, the UK government has laid a draft amendment for vehicle emissions trading schemes, set to come into effect in early 2025, indicating ongoing regulatory efforts to address climate change.

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