In late September, Zimbabwe’s environment minister granted control of nearly 20% of the country’s land to Blue Carbon, a young company led by an Emirati royal, Sheikh Ahmed Dalmook Al Maktoum.
Blue Carbon, based in Dubai, aims to conserve forests across five African nations, including Zimbabwe, Zambia, Kenya, Liberia, and Tanzania, to prevent CO2 emissions from logging activities. This conservation allows the company to create carbon credits, which can be sold to offset emissions from fossil fuel consumption.
Ahead of the United Nations’ COP28 climate summit in December, hosted by the United Arab Emirates (UAE), these deals are viewed by some analysts and climate advocates as a cover for the UAE’s continued fossil fuel exploitation. Despite plans to extract oil until its reserves dry up in 50 years, the UAE’s involvement in forest conservation is seen as an attempt to offset its carbon footprint. However, details about Blue Carbon’s projects, including the size and the number of credits they aim to generate, remain undisclosed.
At COP28, Blue Carbon plans to present its projects as a model for carbon trading. The summit is a crucial platform for global leaders to discuss fossil fuel reduction. However, the UAE, heavily reliant on oil and gas for its economy, may use the summit to promote carbon removal as a key climate solution, including from oil and gas, which continues to be a contentious topic among climate advocates.
The UAE faces criticism for appointing Sultan Al Jaber, head of the Abu Dhabi National Oil Company (ADNOC) and the nation’s climate envoy, as the COP28 president. Critics argue this represents a conflict of interest, given his ties to the fossil fuel industry. ADNOC, while participating in COP28, plans to increase oil and gas production significantly by 2030, contrasting with other oil majors who are reducing production.
Carbon credits, especially those linked to forest conservation, are under scrutiny for their effectiveness in addressing climate change. Critics argue that they allow continued fossil fuel production and emissions. In Africa, such deals raise concerns about land rights, with instances of indigenous and customary landowners being displaced.
As COP28 approaches, the UAE and entities like Blue Carbon and ADNOC are at the center of a complex debate on the role of fossil fuels, carbon credits, and climate solutions. The outcomes of the summit could significantly impact ADNOC’s future expansion and the broader approach to tackling climate change globally.
https://edition.cnn.com/2023/11/22/climate/uae-cop28-adnoc-fossil-fuels-expansion-climate-intl