{"id":19681,"date":"2023-12-28T13:54:31","date_gmt":"2023-12-28T13:54:31","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19681"},"modified":"2023-12-28T13:55:46","modified_gmt":"2023-12-28T13:55:46","slug":"a-farm-in-the-uae-harvests-eur-5-million-in-carbon-credits","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/12\/28\/a-farm-in-the-uae-harvests-eur-5-million-in-carbon-credits\/","title":{"rendered":"A farm in the UAE harvests EUR 5 million in carbon credits"},"content":{"rendered":"\n

A farm in the United Arab Emirates (UAE) has reaped abundantly from carbon credit sales. This has happened just a few weeks after an all-out strive to phase out carbon emissions<\/u><\/a> at the COP28 summit in Dubai.<\/p>\n\n\n\n

The \u201cDavid & Goliath\u201d farm sold \u00a05 million Euro<\/u><\/a>\u00a0(AED 20.413 million) worth of carbon credits on top of agricultural produce sales.<\/p>\n\n\n\n

Carbon credits define permits that a climate-friendly country gives greenhouse producers to emit a certain limit of gas. Most companies receive a limit of 1 ton per credit. If a farm buys many credits but emits only a few, it can sell the surplus to similar-minded farms. <\/p>\n\n\n\n

For \u201cDavid and Goliath\u201d farm, the annual permit of 15,000 tons is enough to generate EUR 750,000 (AED 3.059 million) per year.  <\/p>\n\n\n\n

The carbon credit equivalent to a ton was trading at EUR 50 (AED 203.91) in 2023. For a company that has been farming for 7 years, purchasing at this flat rate has insured earnings. It has also brought environmental benefits via low emissions. <\/p>\n\n\n\n

Vertical Farming <\/strong><\/strong><\/h3>\n\n\n\n

The ability to foster environmental benefits while earning drives the uptake in vertical farming in the UAE.<\/p>\n\n\n\n

According to Dr. Lal Bhatia, an investor with \u201cDavid & Goliath\u201d farm, the project owes to UAE\u2019s conducive policy on sustainability. The policy has seen a rise in urban agriculture, automated irrigated fields and vertical farms.<\/p>\n\n\n\n

Through such projects, the UAE joins the likes of China in embracing vertical farms. This is why it conducts technology research and taps into field exchanges with Israel<\/u><\/a>.  <\/p>\n\n\n\n

The intent of vertical farming differs from one country to the next. While China\u2019s builds multi-storey vertical farms <\/a><\/u>for self-sufficiency, UAE\u2019s vertical farms target carbon reduction and rare indigenous crops.<\/p>\n\n\n\n

For instance, \u201cDavid and Goliath\u201d farm focuses on the production of exotic but rare fruits through sustainable means.<\/p>\n\n\n\n

This commitment cuts across the Arab nation. For one, it was an UAE farming company that suggested trade in carbon<\/a> credits post-COP28 in Mid-December, 2023. Earlier in September, the UAE Carbon Alliance pledged to purchase $450 million <\/a>in carbon credits from Africa by 2030. The promise commits to the COP27 premise of transparent and voluntary carbon deals to battle global warming.<\/p>\n","protected":false},"excerpt":{"rendered":"

A farm in the United Arab Emirates (UAE) has reaped abundantly from carbon credit sales. This has happened just a few weeks after an all-out strive to phase out carbon emissions at the COP28 summit in Dubai. The \u201cDavid & Goliath\u201d farm sold \u00a05 million Euro\u00a0(AED 20.413 million) worth of carbon credits on top of agricultural produce…<\/p>\n","protected":false},"author":3,"featured_media":19550,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nA farm in the UAE harvests EUR 5 million in carbon credits - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2023\/12\/28\/a-farm-in-the-uae-harvests-eur-5-million-in-carbon-credits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A farm in the UAE harvests EUR 5 million in carbon credits - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"A farm in the United Arab Emirates (UAE) has reaped abundantly from carbon credit sales. 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