FRA Resolutions 107 & 108

FRA Resolutions 107 & 108: mandatory tiered esg and tcfd climate disclosure for egyptian exchange-listed companies and non-bank financial institutions.

Jurisdiction
Status
active
Category
First deadline
First disclosures for FY 2022, filed in 2023; annual submissions ongoing
Who must comply
Applies to companies listed on the Egyptian Exchange (EGX) and non-bank financial institutions. Tier 1 entities with issued capital or net equity of at least EGP 100 million must file ESG disclosures; Tier 2 entities with at least EGP 500 million must additionally file TCFD disclosures.
Penalties
Non-compliance can result in administrative monetary fines, trading suspension, business license suspension, public listing of non-compliant entities, and regulatory enforcement orders.

What it is

FRA Resolutions 107 & 108 are Egypt's mandatory ESG and climate disclosure rules issued by the Financial Regulatory Authority (FRA). They require listed companies and non-bank financial institutions to report standardized ESG data, with larger entities also disclosing climate-related information under the TCFD framework. The rules apply on a tiered basis according to a company's issued capital or net equity.

Who must comply

Companies listed on the Egyptian Exchange (EGX) and non-bank financial institutions must comply. Tier 1 entities (issued capital or net equity of at least EGP 100 million) must file ESG disclosures, while Tier 2 entities (at least EGP 500 million) must file both ESG and TCFD disclosures.

What you must disclose

ESG disclosures must cover energy, GHG emissions, water usage, waste, workforce composition, labor practices, governance structure, board oversight, and anti-corruption efforts. Tier 2 entities must additionally disclose TCFD elements: climate governance, strategy with scenario analysis, risk management, Scope 1 and 2 emissions, and transition plans.

Timeline

FRA Resolutions 107 & 108 were introduced on July 15, 2021, and took effect for FY 2022, with first disclosures filed in 2023. Annual submissions are required from FY 2023 onward.

Stay ahead of this regulation.

Book a strategy call. We'll map what this regulation means for your business and the fastest path to compliance.