In more detail
All governmental authorities, the public sector, the private sector and project developers shall be required to notify the Financial Regulatory Authority (FRA) and the Ministry of Environment of all projects for which CERs shall be issued. Moreover, entities for which CERs are issued shall be required to disclose any events or changes having an impact on approvals issued from the competent authorities throughout the term of the issuance.
A committee, "The CERs Supervisory and Monitoring Committee" shall be established by the FRA board of directors in coordination with the Ministry of Environment involving representatives from the relevant authorities to set the rules for the issuance and trading of CERs, as well as supervising and monitoring the same. EGX shall also issue the CERs trading rules which shall only apply after their ratification by the FRA. FRA shall hold a registry of the projects for which CERs are issued and shall inform the Ministry of Environment of such projects on a monthly basis.
Stay tuned for more updates on any upcoming developments on the topic.
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