DMCC inks three sustainability agreements

CARBON MARKETS-

KSA’s budget carrier flynas has partnered with PIF-backed Voluntary Carbon Market Company (VCM) to collaborate on carbon offsetting and environmental conservation, it said in a post on X. Under the partnership, flynas will have access to the carbon credit trading platform, scheduled to launch in November 2024, and it will launch a voluntary carbon offset program that will see participation from the airline’s passengers, Waleed Ahmed, director of Corporate Communications at flynas, was quoted as saying by Economy Middle East.

DESALINATION-

Energy Recovery nabs UAE contracts: US-based Energy Recovery secured USD 12 mn worth of contracts to provide its PX Pressure Exchanger energy recovery devices for three seawater reverse osmosis (SWRO) desalination projects in the UAE, according to a statement. The projects will total almost 1 mn cubic meters per day with delivery of the devices set for the end of the year. The projects include a floating desalination plant in the Arabian Gulf.

What are the benefits of PX use? Energy Recovery’s PX technology boasts a 60% reduction in energy consumption in SWRO desalination plants and has the “lowest lifecycle costs” compared to the other recovery technologies on the market. The company said its devices could save the UAE up to 416 GWh of energy per year and mitigate 201k tons of emissions.

SUSTAINABILITY-

DMCC signs several sustainability services agreements with: The Dubai Multi Commodities Centre (DMCC) has signed agreements to bolster the services of its new Sustainability Hub with S&P Global Market Intelligence, S&P Global Sustainable1, and sustainability platforms Earthly and Climate Essentials, press release (pdf).

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What we know: The agreements will enable DMCC Sustainability Hub’s 25k members to access enhanced sustainability data and resources, including the S&P Global Corporate Sustainability Assessment tool which helps companies incorporate sustainable solutions into their operations and standardize progress reports. Meanwhile, Climate Essentials and Earthly will respectively provide members with carbon footprint calculation tools and “tailored carbon management strategies,” and “verified carbon offset” resources.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• CAFU to offer portable EV charging options: UAE’s vehicle energy delivery and service platform CAFU will offer a new EV charging solution in 2025. The service will include a “premium on-demand” EV charging solution and a mobile “pop-up self-service” trailer-based option, with both options being fast charging and compatible with any EV model. (Statement)