ABU DHABI (ALETIHAD)
The Supreme Council for Financial and Economic Affairs (SCFEA), the authority responsible for setting the public policies and approving the governing strategies of the financial, investment, economic, petroleum, and natural resources affairs in Abu Dhabi, has launched a new Carbon Capture Policy. This policy is designed to establish a comprehensive framework for regulating Carbon Capture, Utilisation, and Storage (CCUS) activities across the emirate, thereby contributing to environmental sustainability and significant reductions in carbon emissions.
The policy aims to solidify Abu Dhabi's standing as a pioneering hub for initiatives that curb carbon emissions and safeguard the environment across diverse sectors. It also seeks to cultivate a sustainable economy, fostering new job creation and bolstering the global competitiveness of local industries.
This comprehensive Carbon Capture Policy further aims to establish a robust legislative and regulatory framework for CCUS activities, thereby enhancing environmental sustainability and reducing emissions across various sectors. It also seeks to stimulate partnerships and collaborative efforts among diverse stakeholders to develop and implement effective carbon emission reduction technologies.
The policy is built upon several core pillars, including optimising the use of locally available resources for carbon dioxide (CO2) storage, and enhancing economic diversification and investment efficiency through the creation of shared carbon capture facilities. Furthermore, it emphasises strengthening both domestic and international collaboration in this critical area.
This policy's introduction underscores the UAE's commitment to international efforts for natural resource conservation. It achieves this by stimulating strategic investments and regulating activities that are vital for protecting ecosystems and ensuring the long-term sustainability of resources for future generations.