HomeCarbon CreditsAbu Dhabi Becomes First Carbon Neutral International Financial Center

Abu Dhabi Becomes First Carbon Neutral International Financial Center

The Abu Dhabi Global Market (ADGM) is the first international financial center in the world to be carbon neutral. They achieved this goal through the use of carbon credits.

What are carbon credits? How did carbon credits help ADGM become carbon neutral?

If you are not sure what carbon credits are, they are pretty simple to understand.

One carbon credit equals one metric ton of carbon. So, for every carbon credit purchased on a carbon exchange, one metric ton of carbon is offset through an environmental project.

This is how ADGM achieved carbon neutrality. They bought and sold all of their 2021 carbon credits for a highly-rated global project.

The project was based in Indonesia.

ADGM used AirCarbon Exchange for this transaction. They are located in ADGM Square.

Where does the UAE stand on climate change? Have they made any commitments?

According to His Highness Sheikh Mohammed bin Rashid Al Maktoum, VP, PM, and Ruler of Dubai, the UAE is committed to fighting climate change.

In 2021, the UAE announced its Net Zero 2050 Strategic Initiative. The goal is to “drive development, growth and new jobs [as we] pivot our economy and nation to net zero.”

To help achieve this goal, the UAE has invested over AED600 billion in renewable energy.

ADGM wants to help the UAE meet its Net Zero 2050 Strategic Initiative. Here’s what else ADGM is doing.

Now in its fourth year, ADGM transformed the Abdo Dhabi Film Festival (ADFF) into a carbon-neutral platform and event.

Per ADGM, “This year’s #ADFF leads by example as a “carbon neutral” event and as part of its commitment towards the UAE’s carbon neutral “Net-Zero initiative.”

ADGM chairman Al Zaabi said that ADGM will keep fostering meaningful relationships with local and global businesses to play its “part in supporting the UAE’s Net-Zero by 2050 Strategic Initiative.”

With ADGM at the helm, fifty-nine members are currently a part of Abu Dhabi Sustainability Week. Eighteen new members have joined this year.

Most Popular
LATEST CARBON NEWS

Amazon’s $1 Billion Move Towards Net Zero: Logistics Electrification Across Europe

Amazon is making waves in its journey toward sustainability with a groundbreaking $1 billion investment to electrify its European transportation network. This initiative is...

Top 5 Lithium Producers Powering the Battery Market in 2025

In this era of sustainability, the battery metals market plays a key role in the energy transition. Lithium, nickel, and cobalt drive demand for...

DOE’s $100M Carbon Capture and $32M Grid Edge Investment Boosts U.S. Energy Transition

On February 15, the U.S. Department of Energy (DOE) announced investing in two separate initiatives to advance clean energy and grid resilience in the...

Top 4 Carbon Projects in 2025: The Game-Changers in Climate Action You Need to Know

In the fight against climate change, companies big and small face mounting pressure to take responsibility for their carbon footprint. Despite rigorous efforts to...
CARBON INVESTOR EDUCATION

Top 5 Carbon ETFs for Sustainable Investing in 2025

Like stocks, investors can buy and sell Exchange-Traded Funds (ETFs) whenever the market is open. Often investing in carbon credits through ETFs offers a...

Green AI Explained: Fueling Innovation with a Smaller Carbon Footprint

As artificial intelligence (AI) continues to transform industries and unlock new opportunities, its environmental impact is also a matter of concern. While AI holds...

What’s Shaping North America’s Natural Gas in 2024? Insights from Wood Mackenzie

The natural gas market has immensely benefitted this year from robust storage levels and stabilized prices after the sharp spikes of 2022. However, challenges...

EU’s Green Bonds to Slash 55 MTS of CO₂ Annually. Can it Hit Europe’s 2050 Net Zero Target?

The European Commission released its NextGenerationEU (NGEU) Green Bonds Allocation and Impact Report 2024 explaining how proceeds from green bonds are being used to...