Voluntary Carbon Credit Market
Tap into the voluntary carbon market to support climate change and help the UAE achieve its Net Zero neutrality by 2050.
| Name | Symbol | Currency | Vintage | Trades Volume | Trades Value | Trades | Retired Credits | Last Updated |
|---|---|---|---|---|---|---|---|---|
| 10MW Photovoltaic Plant in Dubai | CDMDEWA6964 | USD | 2014 | 1,102 | 5,262.42 | 7 | 1,097 | Dec 20, 2023 |
| ARR PARAGUAY ARMILLER | VCSARR2498 | USD | 2018 | 229 | 2,977.00 | 2 | -- | Dec 11, 2023 |
| DEWA Chiller Station L | CDMDEWA7260 | USD | 2014 | 5,491 | 19,218.50 | 16 | 5,491 | Dec 20, 2023 |
| GHANI Solar Renewable Power GreenkoGroup | VCSRENE1792 | USD | 2020 | 2,987 | 4,120.10 | 2 | 2,987 | Jan 10, 2024 |
| REDD BRAZIL AGROCORTEX | VCSREDD1686 | USD | 2019 | 91 | 500.50 | 1 | -- | Dec 11, 2023 |
| REDD BRAZIL EVERGREEN | VCSREDD2539 | USD | 2021 | 300 | 3,000.00 | 2 | 250 | Jan 10, 2024 |
| REDD BRAZIL UNITOR | VCSREDD2508 | USD | 2020 | 456 | 3,000.00 | 2 | 384 | Dec 20, 2023 |
DFM's pilot plays a vital role in creating awareness of climate change and gives the opportunity for entities that are new to the carbon market an easier route to participate, paving the way for any future compliance markets to be better embraced.
Background to pilot
Dubai Financial Market (DFM) has organized a pilot program for trading carbon credits, during the first half of COP28. This move positions the financial market at the forefront of climate action as a regulated platform where project capital raising, carbon credit trading and safekeeping are explored in support of the UAE Government’s net zero by 2050 goal.
The pilot is an integrated platform to explore trading and use of carbon credits, providing a mechanism to help companies manage unavoidable and residual carbon emissions while pursuing direct decarbonization strategies. Each carbon credit symbolizes a tangible reduction in carbon emissions, with one credit offsetting one ton of CO2 equivalent emissions.
Goal of the pilot
Benefits of Carbon Credits
Offset your emissions
Corporate participants may compensate their emissions by funding carbon reduction or removal projects through purchasing and retiring credits.
Access verified credits
Trade credits issued to carbon offsetting or removal projects that reduce or remove greenhouse gas (GHG) emissions, and are certified by leading verification bodies.
Support sustainable development
Corporate participants may channel funds to conservation and sustainable development while reducing climate emissions.
Access wide range of projects
Seek credits suitable to your offsetting needs from projects in renewables, nature-based solutions, energy efficiency and others.
Price transparency
Market participants can view real-time bid-ask quotes which can help determine supply and demand.
Secure trading platform
Corporate participants may execute trading electronically through a secure platform hosted by a regulated exchange.
The pilot
DFM commmenced the pilot program for institutional investors who can buy and sell verified carbon credits (rights) between 5 December to 11 December 2023 with the offsetting period ending on 10th January 2024.
Pilot TermsDFM's pilot project is a collaborative effort with key local and international partners, including carbon credit verification bodies and project coordinators and developers. This cooperation enhances trust, reliability, and the potential for global impact.
Partner
Pilot Approval
Verification Partner
Carbon Credit Suppliers
Brokers
Corporate Participants
Discover the listed credits
Only verified credits will be admitted, and this includes quality local and international credits. The pilot aims to enable corporate businesses located in Dubai to both supply and procure credits.
- 10 MW Mohammed bin Rashid Al Maktoum Solar ParkLocation: Dubai Trading Symbol: CDMDEWA6964The objective of the project is to reduce greenhouse gas (GHG) emissions by displacing fossil fuel-based electricity from the grid through electricity generation from solar radiation. The project will contribute to annual GHG emissions reductions estimated at 12,765 tonnes of CO2.
- DEWA Chiller Station LLocation: Dubai Trading Symbol: CDMDEWA7260The objective of the project is to improve the efficiency of the three gas turbines (GTs) installed at Station L Phase 1 of DEWA by implementing an inlet air chilling system called Thermal Energy Storage and Turbine Inlet Air Cooling (TESTIAC). The project activity reduces greenhouse gas emissions as less fossil fuel input is required to generate the same output of electricity during operation of the TESTIAC system. The expected emission reductions will be approximately 26,800 tonnes of CO2 per year.
- AgrocortexLocation: Brazil Trading Symbol: VCSREDD1686The primary objective of the Agrocortex REDD Project is to avoid the unplanned deforestation (AUD) of the 186,369.66 ha project area, consisting of 100% Amazon rainforest. Over the next 30 years, this project will help reduce over 14 million tonnes of CO2 from entering the atmosphere.
- EvergreenLocation: Amazonas Trading Symbol: VCSREDD2539The EVERGREEN REDD+ PROJECT is located in Apuí Municipality, Amazonas, currently the municipality with the 10th highest deforestation rate in Brazil making it a priority area for forest conservation worldwide. The present project continues to build on the success of the Fortaleza Ituxi REDD+ Project and the Unitor REDD+ Project, which have the same project developer and owner, and have provided an important proof of concept for the region.
- UnitorLocation: Brazil Trading Symbol: VCSREDD2508The objective of the Unitor REDD+ Project is the estimated net GHG emission reductions of over 16 million tonnes of CO2 over a 30-year period. The UNITOR REDD+ PROJECT is located in Lábrea, Amazonas State, Brazil, which is the municipality with the fourth highest aggregate deforestation rate in Brazil between 2008-2020. Municipal deforestation rates have risen year on year, from 3.8% in 2017 to 5.3% in 2020, making it a priority area for forest conservation worldwide.
- MillerLocation: Paraguay Trading Symbol: VCSREDD2498The objective of the Miller project is the production of solid wood, charcoal and wood chips, in order to satisfy the country’s forest demand and reduce the pressure on natural forests. The project is expected to capture 27 million tonnes of CO2 during the crediting period (2016-2045) as a result of growth of forest biomass.
- GHANI Solar Renewable Power GreenkoGroupLocation: India Trading Symbol: VCSRENE1792The objective of this project is to generate a clean form of electricity through renewable solar energy sources. The project activity involves installation of a 500 MW solar power project in Andhra Pradesh state of India. The project will replace anthropogenic emissions of greenhouse gases (GHG’s) estimated to be approximately 887,800 tCO2e per year.
