Blue Carbon is an Emirati company that was launched in October 2022. The company seeks to conserve forests that might otherwise be logged, thus preventing carbon dioxide from entering the atmosphere in order to earn carbon credits to sell to companies and governments who would want to release carbon dioxide. It is assumed that the much of the credits would be sold to the oil producing United Arab Emirates. Sheikh Ahmed Dalmook Al Maktoum is the chairman of Blue Carbon. In September 2023, Zimbabwe signed control over almost 20% of the country's land to Blue Carbon. Blue Carbon's parent company agreed to transfer $1.5 billion to Zimbabwe, which is more than the country spends on education and childcare. Additionally, Blue Carbon has done deals with Zambia, Kenya, Liberia and Tanzania. In total, Blue Carbon has secured forested area equivalent to the land area of the entire United Kingdom.[1]
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edit- ^ Angela Dewan (23 November 2023). "A UAE company has secured African land the size of the UK for controversial carbon offset projects". CNN. Retrieved 12 July 2024.