As defined by the Taskforce on Scaling Voluntary Markets, project types can broadly be grouped into:
- avoidance / reduction projects (e.g., renewable energy, improved waste disposal such as methane capture) and
- removal/sequestration projects (e.g., reforestation, technology-driven carbon capture and storage)
All projects need to meet a minimum criteria:
GHG reductions are additional if they would not have occurred in the absence of a market for offset credits.
Evidence the emission reductions have been achieved using quantification methodology
Assurance by an accredited third party verifier
Issuance, tracking, and retirement on a third-party public registry
Additional offset purchasers criteria may include:
Co-Benefits: Environmental or social benefits which impact/improve certain SDGs through the purchase We aim to link our projects to the 17 SDGs set forth by the United Nations, that co-benefit communities in the region.
NETZERO focuses on supporting the Middle East’s decarbonization efforts
Project types can be broadly grouped into avoidance / reduction projects (e.g. renewable energy, improved waste disposal such as methane capture) and removal/sequestration projects (e.g. reforestation, technology-driven carbon capture and storage) – Taskforce On Scaling Voluntary Carbon Markets
Middle East Projects*
Bold steps are being taken to introduce clean energy across the Middle East despite the fact that wealth and socio-economic development of the region remains closely tied to it’s substantial oil and gas reserves. As rising populations and economic diversification lead to greater energy demand, the region is being forced to diversify its energy mix, meaning a growth in renewable energy, waste-to-energy (WtE) and energy efficiency projects. Just some of these projects that currently exist or are under development in the region are listed below.
- UAE: Noor Energy and Mohammed Bin Rashid Al Maktoum Solar Park
- Egypt: Benban and Kom Ombo
- KSA: Sakaka plus others projects under tender
- Oman: Miraah thermal as well as Amin and Ibri
- UAE: solar-driven hydrogen electrolysis facility – Mohammed bin Rashid Al Maktoum Solar Park. Expo 2020 Dubai (October 2021) to showcase hydrogen mobility in FCEVs
- KSA: Air Products & Chemicals and ACWA Power to build green hydrogen plant powered by wind and solar. Neom mega-city to produce 650 tons of green hydrogen daily
- UAE: Al-Reyadah facility – first commercial-scale CCUS facility in the Middle East. In 2020 ADNOC and Eni signed a strategic framework agreement for CCUS programs
- KSA: Hawiyah Gas Plant (Uthmaniyah Oil Field EOR). Mobile Carbon Capture (MCC) technology for cars and trucks
- UAE: Abu Dhabi – Taqa Global, EWEC and Tadweer – agreements to develop 2 of the world’s largest WTE plants. Sharjah WTE Facility, Bee’ah-Masdar joint project. Dubai’s Al Warsan WTE Project
- KSA: Saudi Investment Recycling Company (SIRC) 3GW WTE facilities by 2030
- Kuwait: Kuwait Authority for Partnership Projects – Kabd – CNIM WTE plant
*NB these are GHG reduction, renewable energy and energy efficiency projects that currently exist or under development/planning in the Region. They are not listed under our Carbon Offset Platform for the purchase of Voluntary Emission Reductions.