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Carbon Forward Middle East 2025: Key Insights from GCC

On January 16, 2025, the Carbon Forward Middle East 2025 event took place in Abu Dhabi, aligning with Abu Dhabi Sustainability Week. The event featured thought-provoking discussions on the latest developments in compliance carbon markets in the region.

One of the highlight sessions, “Middle East Compliance Carbon Market Developments,” brought together leading industry experts to explore the progress in carbon pricing, opportunities in carbon trading, and key considerations for businesses navigating compliance markets.

Carbon Forward Middle East 2025: Key Insights from GCC
Carbon Forward Middle East 2025: Key Insights from GCC
  • Moderator: Zoe Knight, Managing Director, Global Research, HSBC
Panelists:
  • 🎙️ Akin Adamson, Director, Middle East, Ricardo
  • 🎙️ Allister Furey, CEO & Co-founder, Sylvera
  • 🎙️ Anna Nerush, Partner, Clyde & Co LLP
  • 🎙️ Kishor Rajhansa, COO, Global Carbon Council

Key Discussion Points:

  • Regional Progress: Updates on the region’s journey towards implementing carbon pricing mechanisms.
  • Carbon Pricing Dynamics: Understanding price trends and the implications for businesses.
  • Market Opportunities: The potential for carbon trading in the Middle East.
  • Voluntary Carbon Credit Trading: Key considerations for businesses engaging in voluntary carbon markets.

Insights from Kishor Rajhansa, COO, GCC

During the panel, Kishor Rajhansa highlighted several pivotal aspects of the evolving carbon market landscape:

Baku Climate Conference Developments: The recent decisions at Baku provided much-needed clarity on registries and unilateral transactions under Article 6.2 of the Paris Agreement.

GCC’s CORSIA Approval: The GCC’s recognition under CORSIA Phase 1 was a significant step forward, influencing carbon price movements and positioning GCC as a key player in market development.

Supporting Article 6.2 Implementation: GCC is working closely with countries to operationalize Article 6.2 carbon markets, offering carbon market infrastructure and registry solutions to facilitate seamless transactions.

Balancing Article 6.2 and 6.4: GCC continues to evaluate developments in Article 6.4 methodologies and their implications for project evaluations and credit issuance.

MENA Region’s Carbon Market Potential: The MENA region is not only a hub for high-quality carbon projects but also home to corporations committed to net-zero targets, driving demand for high-integrity carbon credits.

Bridging Buyers & Sellers: GCC is exploring initiatives to connect carbon credit buyers and sellers, including the development of a carbon financing facility to enhance market liquidity and accessibility.

In responding to one of the questions, Kishor clarified that there is a blurred line between compliance and voluntary markets which is determined by the host country letter of authorization. He expressed the opinion that compliance markets will bring much needed stability and will reduce the perception of reputational risk among the buyers.

Looking Ahead

The discussions at Carbon Forward Middle East 2025 reinforced the critical role of compliance markets in shaping the future of carbon pricing and trading in the region. With increasing corporate and NDC commitments to net-zero goals, GCC remains committed to fostering a robust and transparent carbon market ecosystem.

Stay tuned for more updates as we continue to advance carbon market solutions in the Middle East and beyond!