In a revolutionary move, the UAE's innovative agricultural initiative, David & Goliath farms, has successfully sold carbon credits amounting to €5 million (approximately $5.53 million). This milestone underscores the nation's commitment to a sustainable future, showcased through cutting-edge vertical farms.
Close up of young seedlings in a vertical farm. AI generated picture.
These state-of-the-art farms incorporate advanced technology, including tech-forward greenhouses and automated irrigation systems, with a primary focus on cultivating exotic fruits. Notably, the project not only functions as a thriving farm but also generates substantial revenue, with carbon credits contributing significantly.
Read more: Carbon farming: How is it good for the environment, farmers, and biodiversity?
Carbon credits, making up around €750,000 (about $833,430) in annual revenue, result from the farm's commendable reduction in CO2 emissions. This substantial figure corresponds to an impressive annual carbon credit capacity of 15,000 metric tonnes, each traded at €50 ($55.56).
Read more: Saudi Arabia's green pledge: a $92 billion investment for Riyadh
David & Goliath farms have already secured future sales of carbon credit futures, emphasising their forward-thinking approach to sustainability. Investor Dr Lal Bhatia highlights the essential role of a supportive environment in achieving breakthroughs in both agriculture and sustainability.
In the pursuit of achieving net-zero emissions, the indispensable role of carbon offsetting cannot be emphasised enough. Its positive impact on the environment, economy, and society paves the way for the preservation of nature and a flourishing planet. DGB Group's global initiatives, involving the planting of over 31.2 million trees, restoring 250,000 hectares of land, and a commitment to capturing more than 60 million tonnes of CO₂, actively contribute to shaping a sustainable future. Through these forward-looking endeavours, organisations have the opportunity to mitigate their environmental footprint, actively participating in the restoration and conservation of our planet through the utilisation of DGB's verified carbon credits.
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