March 24, 2025ーOffset8 Capital Co-founders Ivan Mozharov and Jules Maitrepierre recently spoke with The Energy Year about the emerging opportunities in the Middle East’s carbon market and the company’s mission to deliver long-lasting climate impact.
Founded in 2022, Offset8 Capital launched the region’s first carbon credit fund at COP28, supporting nature-based projects such as reforestation and clean cookstove initiatives in Africa and Southeast Asia. The company focuses not only on capturing greenhouse gases but also on ensuring long-term sustainability and tangible benefits for local communities. In Malawi, for example, Offset8 Capital combines afforestation with the distribution of clean cookstoves to tackle both deforestation and energy needs, creating projects designed to generate verified credits over 10–15 years.
Abu Dhabi was chosen as the company’s base because the Abu Dhabi Global Market (ADGM) became the first jurisdiction in the world to classify carbon credits as financial instruments, providing a regulated framework for trading. With the UAE’s strong ties to Africa, Asia, and the Global South, Abu Dhabi serves as an ideal hub for launching international carbon credit projects.
According to the co-founders, industries most interested in carbon credits include aviation, energy, aluminum, steel, and cement—sectors heavily exposed to international climate regulations like CORSIA and the EU’s Carbon Border Adjustment Mechanism (CBAM). Many companies in the UAE are currently in the early stages: conducting trial trades, assessing legal frameworks, and building internal capabilities before entering the market at scale. Offset8 Capital plays a key role in building trust, educating market participants, and guiding them toward recurring procurement strategies.
Looking ahead, the company estimates that 5–10% of the UAE’s emissions could be offset with carbon credits within five years, with global market growth potentially requiring a 25-fold expansion to meet residual emissions even after deep decarbonization. The founders believe that CORSIA, carbon taxes, and tariff mechanisms will be the main drivers of liquidity, attracting massive capital flows and supporting legitimate international credit projects as compliance markets mature.
Offset8 Capital continues to contribute to Middle East carbon market development by bridging the gap between project developers, investors, and policymakers, helping to position the UAE as a key hub for global carbon trading.
Read the full interview here: https://theenergyyear.com/articles/on-the-way-to-active-carbon-markets-in-the-uae/
