According to the agreement, the voluntary carbon market serves as a platform for companies and individuals to trade carbon credits with the aim of compensating for carbon emissions that are unavoidable. This contributes to improving sustainability and reducing ecological impact. Platforms simplify the process of trading carbon credits between buyers and sellers. Companies that possess carbon credits can sell them to those in need of emissions compensation.
Companies holding carbon credits can sell them to other companies that require emissions compensation. All credits are verified by accredited international agencies to ensure their reliability. These platforms are directed towards channeling financial resources into projects for environmental protection and sustainable development, strengthening trust in trading in this sphere.
Within the framework of regulations for emissions of greenhouse gases, the OAAI has issued a regulation requiring large companies to monitor and report on their emissions. The national registry of carbon credits was created to strengthen trading in this area.
The OAAI is one of the leading countries in the world in carbon capture and storage (CCS) technologies, including a project to capture 800 thousand tons of carbon annually from the Emirates Steel plant. Abu Dhabi Global Market is the first regulator working with carbon credits as financial instruments, increasing transparency in the market.
The country aims to strengthen its regional and global position in the voluntary carbon market, foreseeing investment opportunities within the framework of governmental initiatives to achieve carbon neutrality by 2050. As part of sustainable projects, the Ministry of Climate Change and Environment has developed a national carbon map, including activities such as planting and using seeds to enhance natural carbon sequestration. Global estimates suggest that the carbon credit market could exceed 50 billion dollars at that time.
