UAE to set up carbon registry to gauge companies’ emission cuts

Published Thu, Nov 16, 2023 · 10:27 PM

The United Arab Emirates is developing a carbon registry that will measure companies’ progress in reducing emissions, and help set up a carbon credits trading programme in the future.

The Middle East oil producer is working on the national registry that will involve various industries as the country targets net-zero emissions by 2050, Minister of Climate Change & Environment Mariam Almheiri said on Thursday (Nov 16). The plan may be formally announced during the COP28 gathering that starts later this month in Dubai, she said.

The UAE was the first Middle Eastern oil producer to declare a net-zero target. The country’s role as host of the world’s most important annual climate conference has been criticised by environmentalists because oil remains central to the economy. It is also putting in large investments to boost output capacity further.

Almheiri said earlier this year that the UAE will focus on bolstering global efforts to mitigate carbon emissions and make funds available to finance green projects.

The climate ministry has been consulting with businesses and residents to develop workable green programmes. The carbon registry is also likely to be a first step to developing a nationwide trading programme for carbon credits, Almheiri said.

The UAE will soon begin implementing initial laws and regulations to work toward net-zero across industries like energy, transportation, construction and agriculture, she said. BLOOMBERG