Dubai pursues UN Emissions Credits

10/06/2011 - Dubai Investment News Posted by Bob Brunskill
Dubai pursues UN Emissions Credits

In a bid to increase its energy efficiency levels, Dubai has confirmed that it is seeking emission credits and intends to rely more heavily on solar power to meet its future energy demands.Waleed Salman, chairman of the government-sponsored Dubai Centre for Carbon Excellence, revealed that Dubai Electricity & Water Authority, the government-run utility, is one of a number of firms planning to amass credits worth as much as 144 million euros ($211 million) over the next ten years.In an interview, Mr Salman explained that revenue generated from selling United Nations-overseen credits would help off-set some of the cost of upgrading power plants and replacing water pumps.Salman, who is also vice-president for business development at Dubai Electricity & Water, added: "The main objective is not profit only. It's to adopt carbon reduction in an economical way." Abu Dhabi, Dubai's larger neighbor and capital of the UAE, has already won credits under the UN's Clean Development Mechanism.