February 22, 2024

Börse Express – Mumtalakat launches carbon offset platform “Safa”

Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, today announced the launch of a voluntary carbon offset platform. Safaa To help businesses and individuals better understand and manage their carbon footprint by contributing to best-in-class climate initiatives. This comes in conjunction with the Kingdom of Bahrain’s participation in the United Nations Climate Change Conference (COP28), currently being held in the United Arab Emirates.

Speaking on this occasion, His Excellency Sheikh Abdullah bin Khalifa Al Khalifa, Managing Director of Mumtalakat, said: “We affirm our commitment to sustainability in various fields and firmly believe that real change happens when we all come together to make a collective impact. With Safa, individuals and companies have the opportunity to reduce their carbon footprint and actively participate in shaping a greener future, supporting the Kingdom of Bahrain’s goal of achieving net zero emissions by 2060.

Safa’s offset service is not a substitute for decarbonization efforts; Instead, by raising awareness, educating the population and stimulating action among individuals and companies, Safa aims to complement key decarbonisation initiatives by providing an easy-to-use offset feature for hard-to-offset emissions from initiatives such as travel, accommodation and logistics. Moreover, the goal is to make this service available to users by integrating it directly into their favorite daily applications.

The newly launched easy-to-use platform is evidence that the Kingdom is leveraging technology and innovation as a key element for a faster, more effective and affordable transition to a zero-emission household by 2060. All individuals and businesses can access the platform to facilitate the handling of high-quality, globally certified carbon credits, Allowing them to calculate and offset their carbon emissions. These credits are awarded to international environmental projects that aim to reduce or eliminate greenhouse gas emissions, with the aim of including local and regional projects as well in the near future.

To make climate action easier for everyone, Safa has partnered with CHOOOSE™️, a climate technology company that provides a leading Software-as-a-Service (SaaS) platform that enables its partners to share information on carbon emissions and provides seamless access to trusted information. Climate solutions.

Information about properties: Mumtalakat is the sovereign wealth fund of the Kingdom of Bahrain. With a mandate to promote growth and prosperity in Bahrain through long-term investments based on sound financial, strategic and governance principles, Mumtalakat owns shares in more than 50 trading companies with a portfolio covering various sectors including industrial manufacturing, financial services, telecommunications and real estate. Real estate, logistics, consumer goods, healthcare and education.

More details about the property are available at www.mumtalakat.bh To exist

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