Dubai Financial Market Announces Carbon Market Pilot

Written By Ajyal Group Limited

The Dubai Financial Market announced a pilot program for trading carbon credit scheduled to debut at COP28.

The pilot is the fruits of collaboration between various institutional investors, financial brokers and carbon credit suppliers (local, DEWA and international, MyCarbon).

Voluntary carbon markets are set to become a major tool to assist the region in reading their climate target. This is evidenced by the number of exchanges announced in our region over the past months.

  • In September 2022, ADGM became the first jurisdiction to regulate carbon credits as financial instruments.

  • In November 2022, at COP27, Egypt launched the Egyptian VCM exchange and followed it in August 2023 by releasing the operational regulations.

  • In June 2023, Saudi Arabia announced its intention to launch a voluntary carbon credit exchange during the first quarter of 2024.

Ajyal Group Limited
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