Dr. Mohamed Farid:
- We will ensure fairness in sustainability disclosure requirements between listed and non-listed companies
- Addressing regulatory gaps in sustainability reporting will be carried out through coordination and consultation
- CIB’s recognition reflects the strength of the regulatory and institutional framework of Egypt’s financial sector
- Egypt is evolving into a regional hub for sustainable finance, with the adoption of ISSB standards as a priority
- The stock exchange has been a pillar of the national economy for over 140 years, and the carbon market represents a historic step
- Mandating international sustainability standards enhances the attraction of global investment funds
- Egypt’s new carbon market is an innovative financial instrument supporting the green economy
Dr. Mohamed Farid, Minister of Investment and Foreign Trade, participated in the ringing-the-bell ceremony at the Egyptian Exchange today (Tuesday), marking the Commercial International Bank (CIB)’s receipt of the award for “Best Bank for Sustainable Finance in Africa 2025” from the African Securities Exchanges Association (ASEA).
The high-level ceremony was attended, alongside the Minister of Investment, by Dr. Hussein Issa, Deputy Prime Minister for Economic Affairs; Mr. Hassan Abdalla, Governor of the Central Bank of Egypt; and Dr. Ahmed Rostom, Minister of Planning and Economic Development, in addition to senior leaders from the financial and banking sectors.
Dr. Mohamed Farid affirmed that the Ministry is working to ensure fairness in sustainability disclosure requirements between listed and non-listed companies, in a manner that promotes a level playing field and enhances market competitiveness.
He added that identifying and addressing any regulatory gaps between disclosure requirements and sustainability-related reporting will be conducted within a framework of coordination and consultation among relevant authorities, to ensure alignment with international best practices.
The Minister noted that CIB’s recognition reflects the strength of Egypt’s regulatory and institutional financial framework and underscores the country’s growing position as a regional hub for sustainable finance.
He described the stock market as the “artery of development,” commending its historic role over more than 140 years in supporting major economic entities and enhancing companies’ capacity for growth and expansion.
Dr. Farid also revealed the state’s direction toward further activating a regulated voluntary carbon market for trading carbon emission reduction certificates, as innovative financial instruments that support companies’ compliance with environmental standards and advance the transition toward a green economy.
In this context, he pointed out that the Financial Regulatory Authority is in the process of implementing international sustainability standards issued by the International Sustainability Standards Board (ISSB), specifically S1 and S2. This will contribute to attracting foreign investments and meeting the requirements of global investment funds that consider sustainability reporting a key condition for capital allocation. It will also enable institutions to more accurately assess environmental and operational risks and encourage companies to rationalize energy and water consumption as part of their competitive identity.
The Minister further affirmed that the government is currently working in coordination with various ministries and relevant entities to strengthen the carbon market and promote investment in this vital area, ensuring inclusive and resilient economic growth in the face of regional and global challenges.
Dr. Farid concluded by emphasizing the importance of continued coordination between the government, capital markets, and the banking sector to support sustainable and inclusive economic growth and enhance the Egyptian economy’s ability to keep pace with global developments.
