Global Carbon Council and CEDARE to catalyze carbon markets and climate action

The Global Carbon Council (GCC) and the Centre for Environment and Development for the Arab Region and Europe (CEDARE) have formalized a strategic collaboration through the signing of a Memorandum of Understanding (MoU), aimed at accelerating collaborative efforts in climate action, carbon market development, sustainability, and knowledge sharing. The MoU was signed by Dr. Yousef Alhorr, Founding Chairman of the Global Carbon Council (GCC), and Dr. Khaled Fahmy, Executive Director of CEDARE and former Minister of Environment, Egypt.

The collaboration is built upon a shared commitment to addressing global climate challenges through regional and international cooperation. Both organizations recognize the critical need for a concerted effort in developing robust carbon markets, promoting comprehensive sustainability and governance, and fostering research and innovation. The MOU between GCC and CEDARE will serve to amplify their collective impact on a regional and international scale by enhancing engagement and collaborating on new networks focused on sustainable finance and climate action.

Speaking on the sidelines of the event, Dr. Yousef Alhorr, Founding Chairman of GCC, said, “The Global Carbon Council was established to bridge climate finance with tangible mitigation efforts, especially in the Global South. Our MOU with CEDARE today is a direct step toward achieving this. CEDARE brings invaluable on-the-ground experience in policy formulation and stakeholder engagement across the diverse sociopolitical and economic landscapes of the Arab and European regions. Combined with GCC’s technical expertise in carbon markets and climate finance, this collaboration will enhance our collective capacity to scale solutions and assist governments and industries in the Arab region and beyond, ensuring carbon markets become a driving force for sustainable economic transformation.

Dr. Khaled Fahmy, Executive Director of CEDARE and former Minister of Environment, stated, “This partnership represents a strategic step towards enhancing the region’s role in global carbon markets and driving climate action efforts through regional and international cooperation.”

The MOU outlines several key areas of cooperation designed to achieve these shared goals. The two entities will work together to support the operationalization and accessibility of carbon markets and other innovative financing tools, aligning with Article 6 of the Paris Agreement. This involves creating mechanisms that enable countries and companies to trade carbon credits effectively, unlocking new sources of funding for climate projects. A parallel effort will be to encourage the integration of sustainability and Environmental, Social, and Governance (ESG) principles into both public policies and corporate practices. This helps to embed environmental responsibility and social equity into the core of economic decision-making. To build the necessary expertise, the agreement includes initiatives targeting capacity building and knowledge exchange. This will be achieved by developing and delivering specialized training courses and technical workshops on crucial topics like carbon market mechanisms, greenhouse gas (GHG) accounting, and project development. The GCC-CEDARE collaboration extends to supporting research and innovation to generate evidence-based research and provide thought leadership that can inform effective policy development. Finally, to amplify the overall impact, there is a concerted effort to enhance regional and international engagement, which includes collaborating to establish or join relevant networks focused on sustainable finance and climate action, thereby extending their influence beyond national borders.

The collaboration between GCC and CEDARE comes at a critical time when countries in the Arab region are stepping up efforts to align national policies with the Paris Agreement and global climate finance flows. By enhancing access to voluntary carbon markets and supporting innovation, GCC and CEDARE will help accelerate climate-positive investments while ensuring that the region plays an increasingly active role in shaping the future of international climate governance.