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UAE Carbon Alliance

The UAE Carbon Alliance is a coalition of businesses dedicated to the advancement of a carbon market ecosystem in the UAE.

Carbon markets are trading systems for greenhouse gas emissions. Carbon markets offer a solution for companies’ decarbonisation and net-zero transition efforts while promoting investment towards carbon offset projects.

For more information, please contact carbonalliance@uicca.ae

Work Streams

Raising Awareness
Raising Awareness

Build knowledge and awareness across industry sectors about the role high-integrity carbon markets play in limiting global warming to 1.5°C in the UAE and the broader region and how they contribute to the UAE Net Zero 2050 Strategy.

Aggregating demand
Aggregating demand

Engage in broad company outreach in different waves to the largest corporates, largest emitters, and companies with climate targets in the UAE and potentially GCC.

The Carbon Alliance aims to establish standards for carbon financing, improve awareness of carbon markets, and drive more investment in decarbonisation efforts.

In addition to UICCA, founding members include ACX, First Abu Dhabi Bank, Mubadala Investment Company, Abu Dhabi National Energy Company (TAQA), and Abu Dhabi Future Energy Company (Masdar).

Additional members include three major financial institutions: ADCB, Standard Chartered, and Emirates NBD.

The UAE Carbon Alliance Focus Areas

The UAE Carbon Alliance promotes the development of a leading carbon market and climate technology ecosystem in the UAE in alignment with the UAE Net Zero 2050 Strategy and the Paris Agreement. The Alliance will engage in an extensive education and awareness-raising campaign and complement this with a carbon credit demand aggregation facilitator.

Education

Build knowledge and awareness across sectors about the role high-integrity carbon markets play in limiting global warming to 1.5°C in the UAE.

Demand Aggregation

Aggregate demand through comprehensive book-building in the UAE and potentially broader region, ensuring compliance with highest demand integrity standards (e.g., “abatement hierarchy”, IC-VCM, SBTI. VCMI).

Policy Advocacy​

Advocate for the implementation of a vibrant carbon market in the UAE by creating incentives for companies to trade carbon credits.

highlights

The UAE Carbon Alliance includes major financial institutions and energy companies in the region.

5

Founding members across sectors

55

participating members and growing

highlights

Key
Achievements

The UAE Carbon Alliance was established in June 2023

A coalition of stakeholders committed to enabling high integrity carbon markets in the UAE and globally through awareness raising, demand aggregation, and sourcing supply of high integrity carbon

Establishment of the UAE Carbon Alliance

Organised a Policy Hack on the UAE Carbon Pricing

Co-organised a carbon market readiness workshop on Article 6 with UNFCCC

Organised a virtual event on transition credits for coal power plant retirement

  • Expanded membership base to more than 50 members 
  • Showcased projects by UAE Carbon Alliance members at COP28

Co-hosted the Carbon Dioxide Removal Breakthrough event organised by the Bridge Institute

Developed a policy brief on UAE Carbon Pricing

Co-hosted CBAM Policy Hack in partnership with the UAE Ministry of Economy with the support of the British Embassy in the UAE

June 2023
September
October
November
December
February 2024
March
September