The Role of Carbon Markets in Transitions
SafeRock CEO Shah Karim attended the conference co-hosted by IEF and KAPSARC entitled “The Role of Carbon Markets in Transitions”, a high-level roundtable discussion on carbon markets and CCE investment in Riyadh, Saudi Arabia on February 20th, 2024.
Joseph McMonigle (Secretary General, IEF) and Fahad Alajlan (President, KAPSARC) gave welcome and opening remarks to the audience.
The roundtable discussion focused on how newly evolving carbon markets and greenhouse gas crediting mechanisms can provide reliable market incentives for scaling investment in CCE technologies, including Carbon Capture Utilization and Storage (CCUS), Bioenergy with CCS (BECCS) and Direct Air Capture and Storage (DACS).
When empowered by carbon markets, these additional solutions can scale CCE technologies in high impact economies and generate better verifiable carbon abatement data to allocate climate and private sector finance faster. This will ensure more equitable, cost-effective, market driven clean technology deployment that bridges global divisions and reduces the costs of transitions.
The conversation addressed the following questions:
- What do COP 28 Global Stocktake and the intergovernmental negotiations mean for net-zero greenhouse gas emission reductions and sustainable development goals?
- Is investment in CCUS, DACS, BECCS on the right trajectory to narrow the carbon abatement gap and bridge growing divisions—What else is needed beyond government support?
- How can carbon markets, both voluntary and regulated, unlock investment and climate finance in CCE technologies to optimize and accelerate transitions?
- What has been achieved in enhancing carbon market transparency—what does the journey towards robust and readily comparable carbon data and accounting methods look like?
Reach out to us to discuss the topics discussed during this conference, and how we can help your company collaborate with business and government entities in Saudi Arabia.