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Dubai / WAM
Dubai Carbon announced its first carbon credit transaction, with the sale of the resulting Certified Emission Reductions, CERs, from Dubai Electricity and Water Authority Chiller Station L Project through adopting the Clean Development Mechanism (CDM) to Farnek Total
Facility Management.
This initial sale paves the way for expansion of the green economy in Dubai, inviting further investment in Clean Development Mechanism (CDM) Projects in the Emirate. This inaugural sale of locally issued CERs contributes to the growth of green projects, and is a breakthrough in Dubai Carbon’s efforts as a green economy enabler.
The sale which depends on locally produced CERs, enhances the development of Green Projects in Dubai, since it is considered as a major achievement in investing in CDM in the Emirate.
The project contributes to the isolation of 1,000 CERs (equal to 1,000 tonnes of CO2) achieving Farnek Total Facility Management’s emission reduction targets, highlighting the organisation’s commitment to social and environmental
projects in Dubai.