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EGX, other stock exchanges discuss launching a carbon platform The meetings discussed mechanisms of cooperation between stock exchanges to build a more effective investment environment
The president of the Egyptian Exchange (EGX) discussed with the heads of the South African, Korean, and Malaysian stock exchanges the launch of a voluntary platform for trading carbon documents and the mechanisms of cooperation with those stock exchanges to study the launch of an index to measure companies' rates of reducing carbon emissions. This came on the side-lines of Chairperson of the EGX Rami El-Dokany's participation in the Week of Global Stock Exchange meetings, where El-Dokany met with the head of the indicators unit in Bloomberg International. The meeting discussed the mechanisms of launching an indicator to measure the extent of the voluntary commitment of companies to reduce carbon emissions. Furthermore, El-Dokani discussed with the President of the Tunis and Casablanca Stock Exchanges mechanisms of cooperation, ways to improve liquidity levels in Arab markets, and efforts to increase offerings by working to increase investment awareness, which in turn affects the improvement and increase of the base of companies whose securities are restricted. It also raises awareness levels and spreads financial culture in order to increase the number of investors along with creating and improving the environment for doing business in the capital market industry by developing financial mechanisms and products that help stock exchanges to enhance levels of liquidity and trading. The meetings also witnessed a meeting with representatives of the American NASDAQ Stock Exchange group, during which they discussed the possibility of cooperating on the derivatives exchange and working to organise and hold meetings between the two sides in this regard. Additionally, Al-Dokany said that the meetings of the technical committees discussed the current challenges facing capital markets in general and emerging ones in particular, such as liquidity, as well as efforts to spread awareness and financial culture and mechanisms of cooperation between the financial markets to build a more effective business environment in light of the current challenges.
