Meeting these targets reinforces the importance of carbon markets in the Middle East and beyond. Intervening positivelyThe Middle East is poised to pose and address some of the challenging inquiries related to carbon markets. The array of options includes Emissions Trading Schemes (ETS), carbon taxes, carbon fees, voluntary carbon markets (VCM), various forms of internal carbon pricing (ICP), and more. Some stakeholders still adapt to how carbon markets differ from more established markets within this expansive landscape. Unlike the visual representation of a barrel of oil in the oil market, carbon markets lack a tangible, universally understood counterpart.

Source: The North Africa Journal August 25, 2023 10:06 UTC