Gulf News

Abu Dhabi state fund Mubadala acquires stake in Singapore’s AirCarbon

- (Reuters)

ABU DHABI. Mubadala Investment Company confirmed yesterday that it has acquired a strategic stake in Singapore-based AirCarbon Exchange (ACX).

AirCarbon in February this year partnered with Abu Dhabi’s financial freezone, Abu Dhabi Global Market (ADGM), to establish the first regulated carbon trading exchange and clearing house in the capital.

Abu Dhabi state fund Mubadala’s acquisitio­n supports the plan by the emirate to establish the exchange that will allow companies to trade and finance carbon credits, said the sources.

Emissions trading schemes, or carbon markets, are market-based tools meant to limit greenhouse gas emissions. They put a cap on the amount countries or companies can emit, and if they exceed those limits, they can buy permits from others.

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