The UAE’s Ministry of Climate Change and Environment has partnered with the UAE-based Industrial Innovation Group (IIG) and Venom Foundation to establish a national carbon credits system using blockchain. This agreement, aligned with the UAE’s stricter emission reduction goals and climate neutrality target, focuses on transparently managing carbon credits via blockchain, particularly in the gas sector. The partnership aims to enhance sustainability and biodiversity, with the potential to boost the UAE’s carbon market. The move aligns with a growing trend in the region, emphasizing green economy and emissions reduction initiatives.
- UAE Ministry of Climate Change signs pact to develop national system for carbon credits