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Uae Holding Company Creates Green Investment Entity | |
| Staff Writer |
Blue Carbon is a new organisation founded by Sheikh Ahmed Dalmook Al Maktoum's private office to promote "nature-based solutions" in climate change mitigation initiatives by channelling capital into mangroves and other coastal ecosystems that are able to store three to five times as much carbon as terrestrial forests.
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Interest among businesses in the ecosystems' environmental potential is “growing” as they work towards complying with the existing regulations, said Blue Carbon.
Sheikh Al Maktoum, chairman of the newly-launched company, said Blue Carbon will enter into bilateral agreements with governments and private entities to boost investments in “green” and “blue” carbon projects.
“The world will require an estimated average of $5 trillion a year until 2050 of climate-related investments to reach net-zero goals,” stated Josiane Sadaka, chief executive of Blue Carbon.
“We at Blue Carbon will further these initiatives using methodologies that can better forecast demands that will emerge as we transition to a decarbonised economy.”
The Private Office has a portfolio of privately held group companies that focus mainly on infrastructure development, energy projects, LNG terminal development, and water desalination.