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United Arab Emirates 🇦🇪

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UAE signs deal to develop carbon credit system on Venom Foundation blockchain

The UAE recently announced that it intends to reduce carbon emissions by 40% by 2030, a marked increase over its previous pledge.The United Arab Emirates Ministry of Climate Change and Environment (MCCE) is developing a carbon credit system in a preliminary partnership with the Industrial Innovation Group and the Venom Foundation.UAE leaders recently announced changes to the country’s agenda concerning climate change and carbon offsetting. Ultimately, the goal is to achieve carbon neutrality by 2050. According to a local news report, UAE Minister of Climate Change and Environment Mariam Al Mheiri says this has contributed to a positive update to the country’s roadmap for reducing emissions:While the UAE ranks 33rd globally for total emissions, analysis from the same report shows that it ranks sixth globally per capita, according to data from 2020.In addition to the renewed push to reduce carbon emissions at the national level, each of the UAE’s seven emirates has unveiled local programs to keep in line with the “net zero by 2050” pledge, including a comprehensive program in Abu Dhabi recently approved by the Crown Prince Sheikh Khaled bin Mohamed bin Zayed. https://cointelegraph.com/news/uae-signs-deal-develop-carbon-credit-system-venom-foundation-blockchain

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  • Ajema Lydiah

    44 w

    This is commendable

    4
    • Rukia Ahmed Abdi

      44 w

      for the first time am seeing good news from UAE

      1
      • Jengaj John

        44 w

        @rukia_ahmed_abdi Super surprise! these are the steps we all embrace.

        1
      • mercy nduta

        44 w

        Carbon credits can help companies offset their emissions, but can be contentious.

        2
        • Komu Daniel

          44 w

          Good news from UAE

          1
          • Gorffly mokua

            44 w

            This is good news! This should take place as soon as possible!

            2
          • Professor Aniebiet Inyang Ntui

            44 w

            💚

            10
            • Princess

              44 w

              That's impressive! Developing a carbon credit system on the Venom Foundation blockchain shows the UAE's commitment to sustainability and innovation. It's a positive step toward addressing climate change and promoting eco-friendly practices.

              2
              • johnte ndeto

                44 w

                The UAE believes in its ability to make a difference in this field and has pledged, through the third update of its second Nationally Determined Contributions, to reduce its emissions by 40 per cent compared to a business-as-usual scenario, an increase of 9 per cent over its previous pledge.

                11
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