DFM to launch pilot for carbon credits trading at COP28

Thursday, 23 November 2023 13:32

By ARN News Staff

Dubai Financial Market (DFM) will conduct a pilot programme for trading carbon credits, scheduled to debut at COP28.

This move positions the financial market at the forefront of climate action as a regulated platform where project capital raising, carbon credit trading and safekeeping are explored in support of the UAE Government’s net zero by 2050 goal.

The pilot will be an integrated platform to explore the trading and use of carbon credits, providing a mechanism to help companies manage unavoidable and residual carbon emissions while pursuing direct decarbonization strategies.

Each carbon credit symbolizes a tangible reduction in carbon emissions, with one credit offsetting one ton of CO2 equivalent emissions.

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