{"id":82717,"date":"2024-02-29T00:00:00","date_gmt":"2024-02-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/02\/29\/uaes-offset8-completes-first-transaction-for-biochar-carbon-credit-project-in-indonesia\/"},"modified":"2024-02-29T00:00:00","modified_gmt":"2024-02-29T00:00:00","slug":"uaes-offset8-completes-first-transaction-for-biochar-carbon-credit-project-in-indonesia","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/02\/29\/uaes-offset8-completes-first-transaction-for-biochar-carbon-credit-project-in-indonesia\/","title":{"rendered":"UAE\u2019s Offset8 completes first transaction for biochar carbon credit project in Indonesia"},"content":{"rendered":"

UAE\u2019s<\/strong>Offset8 completes first Indonesian transaction: <\/strong>Offset8<\/a>Capital<\/a> \u2014 which specializes in nature-based carbon removal projects \u2014 has signed its first agreement to finance Singapore-based SawaEcoSolutions<\/a> \u2019 biochar carbon credit generation project in Indonesia, according to a statement<\/a>. The biochar project is expected to generate about USD 50 mn in carbon credits over its 10-year lifecycle.<\/p>\n

REFRESHER- What is Biochar? <\/strong>Biochar \u2014 charcoal produced<\/a> from burning agri and forestry waste \u2014 can improve soil health, while storing carbon<\/a> and pushing down carbon emissions, rendering it viable for carbon offset sales. Biochar can ensure permanent carbon sequestration for more than 100 years, the statement notes.<\/p>\n

The details: <\/strong>Offset8 has already facilitated an early stage investment in the project and will also act as a financial advisor on the transaction, the statement notes. The firm will collaborate on knowledge transfer with Sawa to realize the decarbonization target of the project, which will be developed across Indonesia's Java and Sumatra islands. The Indonesia Carbon Exchange\u2019s recent debut on the Indonesia Stock Exchange, along with the country\u2019s national carbon pricing rates are what attracted the UAE company to the market, the company notes.<\/p>\n

Indonesia has a lot of agri waste to spare for biochar production:<\/strong> The country produces about 45 mn tons of agriculture crop residues per annum, which are usually burned and release some 2 mn tonnes of carbon equivalent into the atmosphere a year. <\/p>\n

REMEMBER- Offset8 wants to launch its own <\/strong>carbon investment fund<\/strong>: <\/strong>The company plans to raise USD 250 mn<\/a> in a bid to establish a \u201cfirst of its kind\u201d carbon investment fund with targeted investments across some 29 markets. The fund will target climate mitigation and adaptation projects with a focus on mangrove restoration and reforestation. Offset8 is particularly eying Africa and Southeast Asia\u2019s CO2 offsets markets as it looks to generate high-quality carbon credits in line with the Core Carbon Principles set by the ICVCM.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Indonesia-based biochar project is estimated to generate approximately USD 50 mn worth of carbon credits over the next decade<\/p>\n","protected":false},"author":1,"featured_media":82718,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[342],"tags":[98,11,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-carbon-markets","tag-carbon-markets","tag-enterpriseclimate","tag-uae","wpautop","entry"],"acf":{"mongo_id":"4d60ec4f-ec48-40eb-8a48-6ad7a62aad88","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2870.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Offset8 completes first transaction for biochar carbon credit project in Indonesia","related_issue":[82703],"teaser":"The Indonesia-based biochar project is estimated to generate approximately USD 50 mn worth of carbon credits over the next decade","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.cf74fa02-dc4b-4f73-937f-f4575de5c3e1.mp3"},"yoast_head":"\nUAE\u2019s Offset8 completes first transaction for biochar carbon credit project in Indonesia - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/29\/uaes-offset8-completes-first-transaction-for-biochar-carbon-credit-project-in-indonesia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE\u2019s Offset8 completes first transaction for biochar 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