International Energy Forum chief economist Laila Benali felt that the directions to establish the Riyadh Voluntary Platform for Trade and Exchange of Carbon Insurance and Compensation in the Middle East and North Africa region will have a major impact on the international efforts in carbon offsets indicators.
In an interview with “Al Arabiya”, Benali felt that the platform Saudi Arabia aims, as announced by its organizers, to be the main platform In the region and the primary destination for several companies and sectors aiming to reduce or contribute to carbon emissions through the purchase or sale of high quality, verified and approved carbon equivalent offset credits.
He described this platform as stemming from a preliminary reading of the Kingdom’s contribution to international efforts to reduce emissions and keep pace with various economic developments, supporting these strategic dimensions and keeping up with profound changes, at the “listing level.” of carbon. “
He explained that the general rule behind the concept of tale platform comes from the phrase “reduce what you can or replace what you cannot reduce in harmful emissions “, explaining that the platforms will provide ownership or carbon credit trading through proven reductions from outside the walls of companies that have in program to combat the trade in “Carbon Insurance and Compensation”.
Interestingly, trading in carbon insurance and compensation is an essential part of business and finance in the era of fighting climate change. and these rights are negotiable.
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