UAE to tap Zambia forestry for carbon credits
Two governments sign MoU allowing UAE to develop forestry-based projects in the African country
The UAE has signed a memorandum of understanding with Zambia to develop forestry-based carbon removal projects in the African country to generate carbon credits. The agreement falls under Article 6 of the Paris Agreement, which allows international trade in carbon credits used to meet countries’ targets set out in their Nationally Determined Contributions. The UAE has signed the agreement via Blue Carbon, a state-owned company set up to drive forward international carbon removal projects. Zambia is a unique treasure trove of natural resources, rich with vast forests that act as natural carbon sinks Blue Carbon will identify and implement strategies for Zambia's forest landscapes to g
Also in this section
28 March 2024
US company aims to accelerate deployment of new technologies offered by Norwegian pureplay CCS firm
26 March 2024
Country has Europe’s largest CO₂ storage potential but regulatory and policy issues must be resolved to enable growth, says Offshore Energies UK
26 March 2024
Largest investment to date will support emission reduction projects across multiple sectors including refining, steel and cement
19 March 2024
Commodity trading companies are set for a key role in shaping green supply chains and providing carbon market liquidity