The UAE has heightened its commitment to cut carbon emissions by 40% by 2030 and achieve carbon neutrality by 2050, as confirmed by the Ministry of Climate Change and Environment (MCCE).

As part of its strategy, the UAE has partnered with the Industrial Innovation Group and Venom Foundation to develop a blockchain-based carbon credit system.

This on-chain system will facilitate secure and transparent trading of carbon credits, enabling the government to sell credits to corporations and interested parties. These credits can be used for emissions offsetting or traded among entities.

According to 2020 data, the UAE ranks 33rd globally in total emissions and sixth per capita.