It wants to create the credits from its own emissions-reduction projects, and those of other industries in the UAE. Read more at straitstimes.com.
ABU DHABI – The largest oil producer in the United Arab Emirates is setting up a desk to trade carbon credits as it prepares for a world in which companies are held to account for the pollution they produce.
The credits would then be available to offset potential carbon taxes levied on exported products that contribute to emissions, according to the people who asked not to be identified discussing operational matters. The new carbon desk is part of Adnoc Trading, established in 2020 as a wholly owned subsidiary of the government oil firm, and deals in crude and liquefied natural gas. Mr Aleksi Parkkila joined Adnoc Trading from Trafigura Group in January to head its Carbon Business Origination team, according to his LinkedIn profile.
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