Offset8 Capital secures ADGM’s In-Principle Approval and partners with FundRock (ME) LTD to sponsor the first carbon credit fund in the Middle East.

Offset8 Capital Limited ("Offset8"), a proprietary asset management firm specializing in the global verified carbon credits (“VCC”) market, is pleased to announce the grant of an In-Principle Approval (“IPA”) by the Financial Services Regulatory Authority (“FSRA”) of the Abu Dhabi Global Market (ADGM) to conduct the Regulated Activities of Arranging Deals in Investments and Advising on Investments or Credit.

The IPA is an important milestone in Offset8’s journey to becoming the first ADGM established, headquartered, and regulated advisory business providing a comprehensive suite of VCC-related advisory services. While The IPA does not constitute the issuance of a Financial Services Permission to carry on Regulated Activities in or from the ADGM (“FSP”), Offset8 is working diligently to fulfil all the IPA conditions and to meet FSRA's stringent requirements to receive the FSP.

In a related development, FundRock Investment Management Service (ME) Ltd (“FundRock”), a fund management company licensed by the FSRA, has lodged a notification with the FSRA to manage a carbon credit fund sponsored by Offset8. Subject to receipt of the FSP, Offset8 will act as an advisor to FundRock in relation to the fund.

The fund is to become the Middle East’s first regulated investment fund focused on VCC-related investments. The fund intends to finance climate change mitigation and adaptation projects, with focus on nature-based solutions (mangrove restoration, reforestation and biochar). Of particular relevance will be projects that aim to support local communities in Africa and Southeast Asia and to contribute to both environmental conservation and sustainable economic development.

Offset8 wishes to extend its sincere appreciation to FSRA for its instrumental role in this significant undertaking.

The Co-Founders and Directors of Offset8, Jules Maitrepierre and Ivan Mozharov, remain committed to their vision and objectives as they navigate the journey ahead, stating “ADGM has become the first major international financial centre to adopt a comprehensive VCC regulatory framework, that, among other things, treats VCCs as Environmental Instruments. Such initiative, coupled with the recent laws and regulations governing Green and Transition Economy investment funds, has cemented ADGM’s role as a leader in the rapidly evolving global green finance industry. Receiving the FSP from the FSRA will empower Offset8 to participate in the further development of ADGM as the Global Green Finance hub.”

Arvind Ramamurthy, Chief of Market Development at ADGM said: “We are delighted to welcome Offset8 to ADGM. We are confident that ADGM’s dynamic ecosystem and progressive regulations will enable Offset8's vision, supporting them in driving innovation across climate change financing, further reaffirming ADGM’s position as the sustainable finance hub for the region and contributing to the continuous development of Abu Dhabi's vibrant financial landscape and its strategic value to global finance and the energy transition. We look forward to witnessing the positive impact of Offset8's expertise in contributing to the growth and development of the financial ecosystem in Abu Dhabi and beyond”.


This press release is for general informational purposes only and should not be relied upon for any other purpose. Notwithstanding anything contained in this press release, this press release does not constitute, and no reader of this press release may treat the same as, an offer to sell, a solicitation or invitation for the sale and purchase of any securities, instruments or any other properties and the information contained in this press release shall not form the basis of any offer or contract. Under no circumstances is the press release to be construed as an offering of any interest in any jurisdiction. No action has been taken to permit an offering of interests in the fund in any jurisdiction where action for that purpose would be required.

None of Offset8, its affiliates and their respective partners, members, employees, officers, directors, agents, advisers and representatives (collectively, the “Offset8 Group”) have any liability for, and neither assumes nor accepts responsibility in relation to, the use of or reliance on this press release by any other person. The Offset8 Group makes no representation or warranty as to the truth, accuracy or completeness of the information in this press release (including statements of opinion or expectation) nor shall have any liability (whether arising from negligence or otherwise) for any representations (express or implied) contained in, or for any omissions from, this press release or for any written or oral communications transmitted to the recipient (or its advisors or representatives).