Climeworks factory is in ICELAND containers similar to those used in maritime transport are stacked up in pairs, 10 metres (33 feet) high.įans in front of the collector draw in ambient air and release it, largely purified of CO2, through ventilators at the back. The UAE is expected to use its COP28 presidency to push hard to include carbon removal - not just from forests, but also from oil and gas as they burn and then storing it underground - central solution to the climate crisis.Ĭlimeworks factory with it's fans in front of the collector, drawing in ambient air and release it, as largely purified CO2 through ventilators at the back is seen at the Hellisheidi power plant near Reykjavik on October 11, 2021. The annual climate summit is where global leaders and negotiators from nearly 200 countries will convene to decide how and when to ramp down fossil fuel use. ![]() The agreements are in initial stages and not yet finalized.īut the company did tell CNN it would present its deals at the COP28 summit in Dubai as a “blueprint” for carbon trading. ![]() CNN has reached out to the UAE government for comment.īlue Carbon would not confirm to CNN the area size of all its projects, how much money it has provided in financing or how many credits it hopes to generate. They could also be sold to other oil-reliant nations and companies in the Gulf and beyond. ![]() But according to several analysts and climate advocates CNN spoke with for this story, these conservation deals are the latest attempt by the petrostate to use green initiatives as a smokescreen for its plans to continue pumping fossil fuels.Īt the same time, the UAE has said it plans to extract its very last barrel of oil 50 years from now, when its reserves are projected to dry up - decades beyond when scientists say society needs to be done with fossil fuel.Ī post shared by Blue Carbon LLC spokesperson would not confirm to CNN that the company would sell those credits to the UAE, but given Blue Carbon’s chairman, Sheikh Ahmed Dalmook Al Maktoum, is a relative of Dubai’s royal ruler - who also serves as the UAE’s prime minister - the widely held assumption among analysts CNN spoke with is that these credits will be sold to the UAE to offset its enormous carbon footprint. The flurry of forest conservation deals with Zimbabwe, Zambia, Kenya, Liberia and Tanzania were announced in the months ahead of the annual United Nations’ COP28 climate summit, being hosted this year in December by the United Arab Emirates. The Dubai-based Blue Carbon has secured forested land nearly equivalent to the size of the United Kingdom across five African nations to run projects to conserve forests that might otherwise be logged, preventing huge amounts of planet-heating carbon dioxide, or CO2, from entering the atmosphere.īlue Carbon can then use that conservation to create carbon credits to sell to companies and governments to “offset” the climate pollution they generate while they continue to burn planet-warming fossil fuels. Blue Carbon was a small, new outfit, not even a year old, but its chief was no fledgling entrepreneur: he was an Emirati royal whose family had ruled Dubai for 190 years, flush with oil money. In late September, Zimbabwe’s environment minister signed away control over a staggering amount of land - almost 20% of his country - to a little-known foreign company.
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