Venom Foundation Partners With the UAE Government To Launch National Carbon Credit System

August 9, 2023 – Abu Dhabi, United Arab Emirates

Venom Foundation, a leader in blockchain technology adoption in regulated markets, is thrilled to announce the signing of a momentous MoU (Memorandum of Understanding) with the UAE Government to develop and implement the National Carbon Credit System.

This landmark partnership represents a significant step towards leveraging blockchain technology to address environmental challenges and promote sustainability on a national scale.

This revolutionary collaboration underscores the UAE’s unwavering commitment to bolstering transparency, reliability and efficiency in carbon emission management, while using the next-generation blockchain technology of Venom – and in doing so, propelling the nation toward its ambitious climate targets of 40% reduction in carbon emissions by 2030. The Venom blockchain itself is carbon neutral.

The MoU signed between the MCCE (Ministry of Climate Change and Environment), the Industrial Innovation Group and Venom Foundation outlines four strategic objectives – reducing emissions, promoting sustainable agriculture, enhancing environmental health and conserving biodiversity.

As part of this partnership, Venom will be actively participating in realizing a greener future.

Affirming their dedication to sustainable development, Taryam Matar Taryam, CEO of Industrial Innovation Group, said,

“For Industrial Innovation Group, it is a great honor to contribute to the creation of the United Arab Emirates’ first National Carbon Credit Registry System together with Venom.

“Industrial Innovation Group steadfastly adheres to sustainable development goals and endeavors to reduce environmental impact – including through decarbonization, as global climate change is closely linked to the increasing concentration of CO2 in the atmosphere.

“With over 30 years of experience, Industrial Innovation Group has a long history of creating large-scale national registries related to identification processes and excels in developing sustainable pathways for various business sectors, conceptualizing carbon removal initiatives, generating project documentation for different carbon credit registries and effectively managing, monitoring and reporting on carbon utilization projects.”

Peter Knez, chair of the foundation council at Venom Foundation, said,

“We are honored and excited to join hands with the UAE Government to build the National Carbon Credit System. At Venom, we believe…