Mubadala acquires stake in Abu Dhabi-based AirCarbon Exchange

Mubadala acquires stake in Abu Dhabi-based AirCarbon Exchange

Mubadala Investment Company (Mubadala) and Hub71-based AirCarbon Exchange (ACX) have successfully completed a transaction under which Mubadala has acquired a strategic stake in ACX, supporting ACX’s establishment of the first fully regulated carbon trading exchange and carbon clearing house in Abu Dhabi. ACX is a global environmental commodities exchange that leverages blockchain architecture to create securitised carbon credits. This framework allows corporates to trade and finance carbon credits like conventional financial assets, increasing participation and investment in global programmes for carbon emission reduction and offset. The announcement was made during the first edition of Abu Dhabi Finance Week (ADFW) hosted by ADGM between November 14-18 2022. Ahmed Jasim Al Zaabi, chairman of Abu Dhabi Global Market (ADGM), said: “The UAE continues to be a leader in leveraging the path to a lower carbon economy to safeguard the environment, drive down emissions and create lasting economic opportunities. The investment by Mubadala in ACX is a great testament to the commitment towards climate action, which will enable investors and businesses to voluntarily purchase verified emissions reductions in the form of carbon credits within the progressive ecosystem of ADGM.” Badr Al Olama, ED of UAE Clusters at Mubadala Investment Company, said: “The UAE