UAE signs deal to develop carbon credit system on Venom Foundation blockchain

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UAE signs deal to develop carbon credit system on Venom Foundation blockchain
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The UAE intends to be carbon neutral by 2050, including a reduction of emissions by 40% before 2030.

changes to the country’s agenda concerning climate change and carbon offsetting. Ultimately, the goal is to achieve carbon neutrality by 2050.

According to a local news report, UAE Minister of Climate Change and Environment Mariam Al Mheiri says this has“The UAE believes in its ability to make a difference in this field and has pledged, through the third update of its second Nationally Determined Contributions, to reduce its emissions by 40 per cent compared to a business-as-usual scenario, an increase of 9 per cent over its previous pledge.

While the UAE ranks 33rd globally for total emissions, analysis from the same report shows that it ranks sixth globally per capita according to data from 2020.ourworldindata.org In addition to the renewed push to reduce carbon emissions at the national level, each of the UAE’s seven emirates have unveiled local programs to keep in line with the “net zero by 2050” pledge, including a comprehensive program in Abu Dhabi recently

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