ACX, Blue Carbon forge MOU to foster Carbon Market Development in Dubai

12:02 PM | 13 Jul, 2023
ACX, Blue Carbon forge MOU to foster Carbon Market Development in Dubai

DUBAI - ACX, formerly known as AirCarbon Exchange, has signed a Memorandum of Understanding (MoU) with Blue Carbon, a project developer based in Dubai, to collaborate on the development of carbon markets in the Middle East and North Africa (MENA) region.

ACX's regulated platform for trading environmental assets seeks to drive substantial transformations in the environmental markets. Through the partnership with Blue Carbon, this initiative will enhance the progress of carbon market initiatives in the MENA region.

Blue Carbon chooses ACX as preferred platform for carbon credit sales and transactions, including hosting auctions before COP28.

Both companies will collaborate to build appropriate market infrastructure, facilitating the implementation of Article 6.2 transactions under the United Nations' Paris Agreement in the UAE and partner countries.

William Pazos, Co-CEO and Co-Founder of ACX, expressed enthusiasm about the partnership with Blue Carbon, stating, "We are pleased to collaborate as their preferred platform for carbon credit sales and smooth transactions. This agreement demonstrates how companies can combine their strengths to generate opportunities and meaningful outcomes while combating climate change."

This Memorandum of Understanding (MOU) marks a significant milestone in ACX's quest to become the foremost global carbon exchange. By successfully launching the world's inaugural regulated carbon exchange in Abu Dhabi, ACX is making remarkable progress in establishing itself as a prominent participant in the carbon trading arena, both regionally in MENA and on a global level.

Josiane Sadaka, CEO of Blue Carbon, emphasized the importance of ITMOs (Internationally Transferred Mitigation Outcomes) in tackling climate change. She stated that ITMOs serve as a powerful tool for global cooperation and address the pressing need for collective action towards a sustainable and resilient future. By adopting a collaborative approach, we can pave the way for a low-carbon future that benefits both humanity and the environment. ACX's efforts closely align with the UN's Article 6 framework, enabling voluntary and compliance carbon sectors to converge in the near future.

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on October 4, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on October 4, 2023 (Wednesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 283.5 286.45
Euro EUR 302 305
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 78.7 79.5
Saudi Riyal SAR 75.45 76.2
Australian Dollar AUD 180.2 182
Bahrain Dinar BHD 766 774
Canadian Dollar CAD 210 212
China Yuan CNY 39.62 40.02
Danish Krone DKK 40.55 40.95
Hong Kong Dollar HKD 36.74 37.09
Indian Rupee INR 3.46 3.57
Japanese Yen JPY 1.63 1.71
Kuwaiti Dinar KWD 931.36 940.36
Malaysian Ringgit MYR 61.27 61.87
New Zealand Dollar NZD 171.55 173.55
Norwegians Krone NOK 26.92 27.22
Omani Riyal OMR 748.35 756.35
Qatari Riyal ‎QAR 79.03 79.73
Singapore Dollar SGD 206 208
Swedish Korona SEK 26.34 26.64
Swiss Franc CHF 313.85 316.35
Thai Bhat THB 7.79 7.94

Gold Rate in Pakistan Today – October 4, 2023

Today Gold Rate in Pakistan

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 201,100 on Wednesday.

The price of 10 grams of 24k gold was recorded at Rs 172,410.

Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

Today Gold Price in Pakistan - 4 October 2023

City Gold Silver
Lahore PKR 201,100 PKR 2,300
Karachi PKR 201,100 PKR 2,300
Islamabad PKR 201,100 PKR 2,300
Peshawar PKR 201,100 PKR 2,300
Quetta PKR 201,100 PKR 2,300
Sialkot PKR 201,100 PKR 2,300
Attock PKR 201,100 PKR 2,300
Gujranwala PKR 201,100 PKR 2,300
Jehlum PKR 201,100 PKR 2,300
Multan PKR 201,100 PKR 2,300
Bahawalpur PKR 201,100 PKR 2,300
Gujrat PKR 201,100 PKR 2,300
Nawabshah PKR 201,100 PKR 2,300
Chakwal PKR 201,100 PKR 2,300
Hyderabad PKR 201,100 PKR 2,300
Nowshehra PKR 201,100 PKR 2,300
Sargodha PKR 201,100 PKR 2,300
Faisalabad PKR 201,100 PKR 2,300
Mirpur PKR 201,100 PKR 2,300


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