What does Blue Carbon do?
At Blue Carbon, we work on creating and maximizing country environmental assets and developing nature-based solution projects for carbon credit origination.
Our process acknowledges the credibility of Article 6 Mitigation Outcomes (MOs), as high-integrity high value carbon credits, as per the mechanism provided under the Paris Agreement. We work closely with governments and relevant stakeholders to support the blueprints for the involvement of the private sector in the operationalization of Article 6.
We accelerate the global transition to a de-carbonised economy using bilateral agreements to help governments and our clients design and implement carbon abatement strategies in compliance with the Paris Agreement, leveraging the ambition of the UAE and its founders.
What are Blue Carbon’s projects?
Blue Carbon has signed MOU’s for ITMO-driven project development in several countries including Liberia, Zimbabwe, Tanzania, Zambia, PNG, Union of Comoros, St.Lucia, Bahamas, Commonwealth of Dominica and others. These MoUs primarily outline the collaboration with countries to explore, assess, and conduct due diligence for identifying and narrowing down the potential in the partnerships.
Blue Carbon has signed a large-scale agreement with Zimbabwe to pioneer land-based carbon mitigation projects that are in compliance with Article 6 of the Paris agreement for a proposed project area of up to 7.5 million hectares. The project is currently under development.
Where is Blue Carbon based?
Blue Carbon was born out of the entrepreneurial spirit of Dubai and the UAE in general. We are a fully owned a subsidiary of Global Carbon Investments and ultimately owned by Sheikh Ahmed Dalmook Al Maktoum, a senior member of the Dubai Ruling family. Based in the UAE, we are proud to be part of a nation that champions innovation, sustainability, and visionary leadership.
Why an Article 6 Paris Agreement ITMO driven approach?
Blue Carbon’s initiative is driven by an Article 6 compliant approach.
The Article 6 mechanism of the Paris Agreement fosters a collaborative approach, allowing for higher ambition in mitigation actions while promoting sustainable development and environmental integrity. Article 6 outlines the process and mechanisms for this international cooperation, including the development and registration of Mitigation Outcomes (MOs) transactable as International Transfer Mitigation Outcomes (ITMOs) or for Other Intended Mitigation Purposes (OIMPs).
As per Article 6 of the Paris Agreement, our projects operate in direct collaboration with governments, whereby all decisions regarding project implementation and the resulting benefits are made in conjunction with government.
The stringency of the integrity, transparency and compliance requirements of Article 6 ensures that our projects uphold high standards of integrity and transparency – guaranteeing greater impact and value.
What is Blue Carbon’s project development process?
As an initial step, all our projects undergo thorough due diligence. All identified project areas are subject to pass qualifications based on specified criteria, including, but not limited to a rigorous evaluation of additionality, leakage and permanence. Our project development process, whereby activities and methodologies are identified, results from a thorough multistep process of prefeasibility, feasibility, community consultations, free prior informed consents (FPICs), etc.
Community consultations and engagement, as well as FPIC processes, are key components within Blue Carbon’s project development strategy to be carried out in a manner that supports the economic and social viability of communities within the project area and aim to uplift living standards.
What methodologies will Blue Carbon use?
In the process of project design and development, we are committed to selecting the programs and methodologies that align with the unique context of each country and uphold the highest international standards for Article 6 operationalization. As Article 6 gains clarity, the approved methodologies will continue to guide our process. We remain fluid and attuned to this ever-evolving landscape.
Who are Blue Carbon’s target buyers?
We expect a diverse target customer and buyer base, which can include countries aiming to fulfil their National Determined Contributions (NDC) targets and other entities within the hard-to-abate industries in the net-zero compliance market.
As the implementation book of Article 6 is being drawn, we facilitate the in-principal agreements from host countries to buyer countries under the framework of Art. 6, thereby supporting countries in maximizing their asset value.
How will Blue Carbon’s projects benefit local communities and host countries?
Blue Carbon is committed to environmental conservation and restoration, integrating community members in project implementation, elevating livelihoods, and advancing sustainable development goals. These fundamental objectives form the bedrock of our projects, guaranteeing benefits for the local community and the environment.
Our endeavours are expected to yield several advantages all possible through the reinvestment of revenues generated by the project, such as improved crop yields through agriculture programmes, implementation of renewable energy projects that provide access to electricity, diversified income sources, employment prospects, bolstered community climate resilience, and capacity-building activities, including training opportunities.
Does Blue Carbon acquire lands as part of carbon project development?
We do not claim ownership over the land; our rights are limited to only access and project implementation in accordance with the local laws and as are typical in high integrity carbon project development, respecting and upholding the legal rights of the local communities.