Dubai Carbon has jointly announced with the Dubai Supreme Council of Energy (DSCE) that it has reached a major milestone to incentivise retrofit markets in the entire UAE. The UN backed Programme of Activities (PoA) framework, launched during WETEX 2016, will enable ESCO type and efficient lighting projects to earn carbon credits once included as Component Project Activities (CPAs) within the framework.
The PoAs will be managed by Etihad ESCO, the Dubai Government owned SuperESCO vehicle, with consultancy support from Dubai Carbon, which will also act as the coordinator between UNFCCC, Etihad ESCO, DSCE and CPAs. The PoA, ‘Fostering an ESCO Industry in the UAE’ once registered will become an umbrella programme for small-scale ESCO type projects, that from a financial point of view otherwise may not be suitable to apply for Clean Development Mechanism (CDM) Project Activities.
Meanwhile, the ‘Lighting Efficiency PoA in the UAE’ will support energy-efficient lighting retrofit projects that cut energy demand and associated emissions.
HE Ahmed Buti Al Muhairbi, Secretary General, Dubai Supreme Council of Energy, commented: “It is an exciting time for the UAE as we will set new benchmarks for public-private partnerships in the energy efficiency sector. This will open new opportunities for private companies to contribute towards realising the UAE’s aim to become one of the most sustainable countries in the world. The PoAs will further support the vision of our leaders to make Dubai a leading example of energy efficiency and hub for green economy investment, for the region, and globally.”
Waleed Salman, Chairman, Dubai Carbon, said: “We are thoroughly convinced that the private sector can bring highly effective solutions to consumers, and be a strategic partner for the public sector in achieving the UAE’s sustainability goals. Both PoAs signed by us, will not only contribute in achieving UAE’s sustainability goals, but also to meet the carbon reduction target of 16% by 2021.”
Ivano Iannelli, CEO, Dubai Carbon, said, “Dubai government is providing project owners, both big and small, with an opportunity to improve the project economics and achieve UN backed Certified Emission Reductions (CERs) earned under these PoAs. The CERs are certificates designed by the UN to reward investors in energy efficiency projects, and allow investors in emission reduction projects to earn carbon credits that governments and companies can use to offset emissions. The PoAs will allow the inclusion of an unlimited number of projects over a 28-year lifespan.”