Mubadala buys stake in carbon exchange

Abu Dhabi sovereign wealth fund Mubadala has acquired a share in AirCarbon Exchange (ACX), the first regulated carbon trading house in Abu Dhabi.

Based in Hub71, ACX also serves as a carbon clearing house as well as an environmental exchange.

It uses distributed ledger technology to generate securitised carbon credits.

According to Mubadala, the investment is in keeping with its strategy of economic diversification and responsible investing.

No financial details of the transaction were disclosed.

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