UAE Business: Mubadala acquires strategic stake in AirCarbon Exchange – Gulf Digital News

UAE Business: Mubadala acquires strategic stake in AirCarbon Exchange – Gulf Digital News

Mubadala said it has reached an agreement with AirCarbon Exchange, the global exchange revolutionising the voluntary carbon market based in Abu Dhabi’s global tech ecosystem Hub71, to acquire a strategic stake in the Exchange, thus 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 uses distributed ledger technology. leveraging blockchain architecture to create securitized carbon credits.

This framework allows corporates to trade and finance carbon credits like conventional financial assets, increasing participation and investment in global programs for carbon emission reduction and offset.

As part of its responsible investing and economic diversification mandate, Mubadala said it was investing in commercially attractive solutions to the world’s most significant challenges and also purposefully deploying capital in high growth sectors that drive substantial change.

The announcement was made during the first edition of Abu Dhabi Finance Week (ADFW) in the UAE capital which concludes tomorrow (November 18), in partnership with key economic drivers of the Abu Dhabi economy and a group of global and regional financial institutions.

The week-long event serves as a platform for in-depth conversations around the Mena region’s thriving financial sector, industry trends, developments and innovation involving financial