Last reviewed: November 2026. This brief summarises the sustainability, ESG disclosure and corporate governance landscape in Egypt for boards, sustainability teams and investor-relations professionals. It is an orientation guide, not legal advice.
Rules, thresholds and deadlines change frequently, and several frameworks described here were being revised at the time of writing. Always confirm the current position with the official source (regulator, exchange or ministry) before relying on any requirement.
Overview
Egypt was one of the first markets in the Middle East and Africa to make ESG and climate-related disclosure mandatory for listed companies, and it hosted the UN climate conference COP27 in Sharm El-Sheikh in 2022. Its sustainability framework has two main pillars: disclosure rules set by the Financial Regulatory Authority (FRA) for listed companies and non-bank financial institutions, and binding sustainable finance regulations issued by the Central Bank of Egypt (CBE) for banks.
Egypt's exporters are also exposed to the EU Carbon Border Adjustment Mechanism, notably in fertilisers, iron and steel and aluminium, which makes reliable emissions data a commercial as well as a regulatory need.
Regulators and stock exchange
- Financial Regulatory Authority (FRA) – regulates the capital market and non-bank financial services (insurance, leasing, microfinance, funds and others) and issues listing and disclosure rules.
- Central Bank of Egypt (CBE) – regulates and supervises banks, including their sustainability and sustainable finance obligations.
- The Egyptian Exchange (EGX) – operates the main market and SME market, publishes sustainability guidance for issuers and hosts the S&P/EGX ESG Index.
ESG / sustainability disclosure requirements
In 2021 the FRA issued Decree No. 107 (non-bank financial companies) and Decree No. 108 (companies listed on EGX). In summary:
- Non-bank financial companies with issued capital or net equity of at least EGP 100 million must include ESG disclosures in their annual reporting.
- Listed companies must disclose ESG information, and larger listed companies and non-bank financial companies (issued capital or net equity of at least EGP 500 million) must also report climate-related financial disclosures following the TCFD recommendations.
- The disclosures apply from reporting for financial year 2022 onwards and are included with the annual board report and financial statements.
The FRA publishes assessments of ESG and TCFD disclosures and has stated its intention to move towards the ISSB standards (IFRS S1 and S2). A phased roadmap was under discussion in 2026, so check the FRA website for any new decree before preparing the next reporting cycle. EGX's sustainability guidance for listed companies, first published in 2016, remains a useful practical reference.
Corporate governance code
The Egyptian Code of Corporate Governance (third edition, 2016) was prepared by the Egyptian Institute of Directors and approved by the board of the then Egyptian Financial Supervisory Authority (now the FRA). It covers the general assembly, board structure and independence, committees, internal control, audit, disclosure and stakeholder relations. Binding governance obligations for listed companies sit mainly in the FRA's listing and disclosure rules and in company law; the Code sets the best-practice benchmark. Separate governance requirements apply to banks under CBE rules and to state-owned enterprises.
Climate commitments
- NDC: Egypt updated its NDC in 2022 and again in June 2023. The NDC sets sector-based targets (electricity, transport, oil and gas) rather than an economy-wide target; the 2023 update brought forward the goal of 42% renewable electricity to 2030.
- Net zero: Egypt has not announced a national net-zero target year.
- Strategy: the National Climate Change Strategy 2050, launched in 2022, frames adaptation and mitigation priorities.
Sustainable finance
- Sovereign green bond: in September 2020 Egypt issued a USD 750 million five-year green bond, the first sovereign green bond in the Middle East and North Africa.
- CBE rules: the CBE issued Sustainable Finance Guiding Principles in July 2021, followed by binding regulations announced in November 2022. Banks must have a dedicated sustainability and sustainable finance unit, carry out environmental and social risk assessment for financed projects and submit periodic and annual sustainability reporting to the CBE.
- Taxonomy: in 2026 the CBE formed a working group with ministries and the FRA to prepare a national sustainable finance taxonomy.
Investor relations practice
EGX-listed companies publish material information and periodic results through the exchange's disclosure system, mostly in Arabic with English versions common among larger issuers and those with foreign shareholders. Leading companies hold quarterly earnings calls, maintain bilingual IR websites and publish standalone sustainability reports. Because FRA ESG and TCFD disclosures are now part of the annual reporting package, IR teams increasingly coordinate with finance and sustainability functions on a single data set and on responses to ESG rating agencies and lenders.
What to watch
- An FRA decree or roadmap formally adopting IFRS S1/S2, and any phasing by company size.
- The CBE-led national sustainable finance taxonomy.
- Egypt's next NDC submission and any long-term low-emission strategy.
- EU CBAM exposure for exporters and growing lender demands for emissions data.
Official sources
- Financial Regulatory Authority (FRA)
- FRA – Sustainability disclosures (ESG & TCFD)
- Central Bank of Egypt – Sustainable finance
- Central Bank of Egypt – Principles and regulatory framework
- The Egyptian Exchange – Sustainability guidance
- UNFCCC – NDC registry
Last reviewed: November 2026. Corprise Knowledge Hub briefs are updated periodically; if you notice a change in the rules, check the official source first.
