Oracle Power signs MoU with Blue Carbon

Based in Dubai, UAE, Blue Carbon, a company set up and owned by His Highness Shaikh Ahmed Dalmook Al Maktoum, was formed to create environmental assets, nature-based solutions and support carbon removal projects worldwide. Blue Carbon was formed against the backdrop of growing international efforts to fight climate change and will work to advance and integrate nature-based solutions into climate change mitigation initiatives to help countries fulfil their net zero emission commitment by 2050 in compliance with Article 6 of the Paris Agreement.

As part of the collaboration, Blue Carbon will develop a decarbonisation roadmap to complement Oracle Energy’s energy transition strategy. It will focus on a monitoring, reporting and verification framework to calculate and benchmark carbon emission data, suggest suitable methodologies for registration, and identify opportunities in the space of carbon capture and utilisation. Moreover, Oracle Energy and Blue Carbon will identify suitable opportunities in low-carbon environmental assets related to hydrogen. Blue Carbon will also advise Oracle Energy on the aggregation of data related to Carbon Emission Reporting. Blue Carbon will be conducting workshops to share knowledge, relevance and compliance and consolidate a high-level sustainability vision for future implementation.

CEO of Oracle, Naheed Memon, commented: “This MoU further builds on our developments in the hydrogen industry and further complements our JV partnership supported by His Highness Shaikh Ahmed Dalmook Al Maktoum. With its expertise in climate change economics, Blue Carbon aims to be at the forefront of sustainable climate change investment, and I look forward to collaborating with Blue Carbon on a decarbonisation roadmap to complement Oracle Energy’s green hydrogen project in Pakistan.”

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/26102022/oracle-power-signs-mou-with-blue-carbon/