October 21, 2007 (Dubai Multi Commodities Centre) – Dubai Multi Commodities Centre and EcoSecurities announced today that they have signed a Memorandum of Understanding (MOU) with Zero Waste Technology to jointly develop municipal waste treatment centers using anaerobic digestion projects under the Kyoto Protocol’s Clean Development Mechanism (CDM).EcoSecurities is one of the world’s leading companies in the business of sourcing, developing and trading carbon credits from greenhouse gas emission reduction projects. Zero Waste Technology is a leading regional player involved in mechanical recycling, and biological treatment of public waste.
Anaerobic digestion projects at municipal waste sites reduce emissions by preventing methane from being released in the atmosphere. Instead, the methane is captured and converted into energy. These projects also lead to a reduction in the use of fossil fuel-based energy from the local grid.
As part of this agreement, Zero Waste Technology will provide the technology required to capture and treat waste to produce biogas, which can be converted into heat and electricity. EcoSecurities and DMCC will assist in the development of the CDM component of the project, and purchase the Certified Emission Reductions (CERs) thus generated. DMCC will also support the implementation of this type of anaerobic digestion technology throughout the region and encourage similar projects throughout the United Arab Emirates.
Dr. Tilak K. Doshi, Executive Director for Energy at DMCC, said:
“DMCC is working towards making Dubai a leading centre for the origination, development and trading of carbon emissions credits, through developing projects that are compliant with the Kyoto Protocol’s CDM. These CDM-compliant anaerobic digestion projects for municipal waste sites will contribute significantly towards reducing the UAE’s carbon footprint.”
According to Souheil Abboud, Middle East Regional Director of EcoSecurities, ‘We are excited to work with Zero Waste Technology and DMCC to exploit the large emission reduction opportunities within the region’s municipal waste facilities. We view the affiliation with Zero Waste as a way of building on our partnership with DMCC, by developing CDM business models and projects that could be replicated regionally.’
Dr. Omar Al-Halabi, Vice President Engineering and Technology at Zero Waste, said ‘Concern about our environment led by DMCC and EcoSecurities will help us realize our shared vision of a greener region. Zero Waste is currently in the process of finalizing the details of setting up waste treatment projects using the natural process of anaerobic digestion in the Kingdoms of Jordan and Saudi Arabia. This is in addition to the current project in the Kingdom of Bahrain, which once completed will be the largest of such facilities regionally.’
DMCC and EcoSecurities signed an MOU in June 2007 to promote CDM projects, and generate emission reduction credits within the UAE, while building the profile of Dubai as a regional centre for carbon emission reductions and trading.