Daltex Becomes 1st Egyptian Firm to Trade Carbon Credits
Daltex purchased 1,500 Verra carbon credits from the Punjab Agroforestry Project in India.
Daltex, a major agribusiness and potato exporter in Egypt, becomes the first private Egyptian company to trade international carbon credits through the country’s new voluntary carbon market.[1]
This market, the first in Africa, was launched and regulated by the Financial Regulatory Authority (FRA) and the Egyptian Exchange (EGX).[2]
Read More: CBE Nods for Egypt's First Digital Bank
Daltex purchased 1,500 Verra carbon credits from the Punjab Agroforestry Project in India, valued at over EGP 1.3 million (27,000). The project spans over 500,000 hectares and focuses on improving small farmers' incomes through carbon revenue.
The Punjab Agroforestry Project, run by VNV Advisory, is key to Daltex’s sustainability efforts by diversifying farming practices and enhancing carbon sequestration in India.