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Dominica unites with UAE-based company for sustainable climate solutions

01:05 PM | 1 Dec, 2023
Dominica unites with UAE-based company for sustainable climate solutions

DUBAI — Dominica and a UAE-based have officially signed a Memorandum of Understanding (MOU)  to cooperate on carbon trading aligning with Paris Agreement Article 6 objectives, focusing on climate change initiatives for carbon mitigation and removal across diverse sectors.
 
The MoU signing marks a substantial stride in cultivating collaborative efforts to achieve climate targets, enabling increased ambition in mitigation actions while championing sustainable development and environmental integrity.
 
The signing ceremony took place in Dubai this week, featuring the presence of Roosevelt Skerrit, the Prime Minister of the Commonwealth of Dominica, and Sheikh Ahmed Dalmouk Al Maktoum, Chairman of Blue Carbon.
 
Article 6 of the Paris Agreement details the mechanisms for worldwide cooperation, involving the identification and assessment of prospects to generate tradable mitigation outcomes (MOs) known as International Transfer Mitigation Outcomes (ITMOs).

The agreement also paves the way for initiating bilateral negotiations on binding agreements, establishing the framework for the authorization of ITMOs and their transfers based on the provisions of Article 6.2 and preapproved methodologies of 6.4 of the Paris Agreement.
 
Moreover, the strategic alliance between the Commonwealth Government of Dominica and Blue Carbon carries special importance considering the distinctive challenges encountered by small island nations, like Dominica, amidst the impacts of climate change.
 
Small islands, like Dominica, face outsized impacts from rising sea levels and extreme weather. The MoU initiatives not only contribute to global climate goals but are vital for fostering adaptation and resilience in Dominica.
 
By prioritizing sustainable development and comprehensive climate initiatives, the collaboration aims to mitigate the catastrophic consequences of climate change, ensuring a more secure and resilient future for the people of Dominica. 
 
This added dimension reinforces the commitment of both parties to address the specific needs of vulnerable nations and build a foundation for sustainable development that withstands the challenges posed by a changing climate.
 
Recognising the strategic importance of their cooperation, Blue Carbon and the Government of Dominica are poised to merge their expertise and resources. Their goal is to formulate shared strategies that advance sustainable development, generate financial returns, create jobs, and facilitate carbon credit transfers.
 
Blue Carbon is a leading in the space of environmental asset creation and nature-based solutions, specializing in the development of projects for carbon credit origination focusing on bilateral agreements and compliance markets.
 
At the core of the Caribbean, Dominica is committed to championing sustainability and environmental integrity. Working to enhance climate resilience, the nation is addressing vulnerabilities for a resilient future.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 27 Feb 2024

Pakistani currency remains largely stable against US dollar in the open market on February 27, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.4 for buying and 282.3 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 351.5 for buying, and 355 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 76.7.

Today’s currency exchange rates in Pakistan - 27 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.4 282.3
Euro EUR 303 306
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 181 183
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207 209
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.56 40.96
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36
 
26.66
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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