DUBAI, UAE
\nThe First Abu Dhabi Bank (FAB) has entered into partnership with Blue Carbon, an environmental asset developer active in Africa and Asia, for climate action, green investments.
\nThe fund allocated for this purpose is around US$ 75 billion.
\nIn this regard, both the Blue Carbon and FAB have signed a Memorandum of Understanding (MOU) to advance carbon reduction initiatives and promote sustainable development.
\nFAB, the UAE\u2019s largest bank and a leader in green finance, has set an ambitious goal of dedicating $75 billion to sustainable finance initiatives by 2030, with $14.2 billion already allocated to environmentally and socially responsible solutions.
\nThe momentous MOU was officially signed during a ceremony in Abu Dhabi, with Blue Carbon Chairman Sheikh Ahmed Dalmook Al Maktoum and Sameh Al Qubaisi, Group Head of Global Markets at FAB, as signatories. The event was graced by the presence of Abdullah bin Touq Al Marri, Minister of Economy, along with several other representatives from FAB and Blue Carbon.
\nAmid the global fight against climate change, as underscored by the recent Africa Climate Summit, climate finance is playing a pivotal role. The collaboration between Blue Carbon and FAB is poised to accelerate climate progress and direct vital green investment toward essential mitigation projects.
\nThe collaboration between Blue Carbon and the prominent sustainable finance institution, FAB is poised to expedite climate advancements and direct essential green investment capital toward necessary mitigation projects.
\nSheikh Ahmed Dalmook Al Maktoum, Chairman of Blue Carbon, noted, \u201cWe see immense potential in the collaboration between Blue Carbon and FAB to elevate climate finance to new heights. By aligning our efforts with the sustainability ambitions of both FAB and the UAE, we are charting a course toward fulfilling the crucial objectives of the Paris Agreement and creating lasting positive impacts.\u201d
\nThis collaboration will also streamline carbon offset transactions between Blue Carbon and FAB, aligning with FAB\u2019s overarching sustainability goals, the climate mitigation agenda of COP28, and the UAE\u2019s ambitious NetZero2050 vision.
\nBlue Carbon collaborates with countries to enable investments in projects generating internationally transferable carbon reductions.
\nThese projects involve entities committed to Net Zero goals and align with the Paris Agreement. Blue Carbon offers expertise in developing and facilitating carbon projects, including ITMOs, collaborating with both the public and private sectors to support their Net Zero objectives under Article 6 of the Paris Agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"
DUBAI, UAE The First Abu Dhabi Bank (FAB) has entered into partnership with Blue Carbon, an environmental asset developer active in Africa and Asia, for climate action, green investments. The fund allocated for this purpose is around US$ 75 billion. In this regard, both the Blue Carbon and FAB have signed a Memorandum of Understanding […]<\/p>\n","protected":false},"author":2,"featured_media":357436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-357424","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n