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The UAE has entered an initial agreement with blockchain company Venom Foundation and the UAE-based Industrial Innovation Group (IIG) to establish a national carbon credit system using blockchain technology. The partnership aligns with the UAE's ambitious carbon emission reduction goals as blockchain technology ensures secure and transparent carbon credit transactions, allowing the UAE's Ministry of Climate Change and Environment to issue and trade credits with businesses to offset emissions.

UAE to establish blockchain-powered national carbon credit system

The UAE has entered an initial agreement with blockchain company Venom Foundation and the UAE-based Industrial Innovation Group (IIG) to establish a national carbon credit system using blockchain technology. The partnership aligns with the UAE’s ambitious carbon emission reduction goals as blockchain technology ensures secure and transparent carbon credit transactions, allowing the UAE’s Ministry of Climate Change and Environment to issue and trade credits with businesses to offset emissions.

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