Carbon Capital Markets - offset provider to CNBC Arabiya in the Middle East

CNBC Arabiya CEO, Steven Hall, said, "In purchasing carbon offsets from Carbon Capital Markets, we are reinforcing CNBC Arabiya's Corporate Social Responsibility commitment to society as a whole and to our viewers in particular.

Moreover, we are aligning our vision with that of the vision of the United Arab Emirates' leadership in pledging to contribute to international efforts aimed at combating environmental challenges, especially during this era of rapid economic growth of businesses and markets in the Middle East."

Hall is determined that CNBC Arabiya reflects the key issues affecting its audience, saying, "Today, that means responding to the potential threat of climate change."

Offsetting plays a vital role in helping to raise awareness of this problem. It also enables companies to place a tangible economic value on their emissions, internalising the environmental impact.

The direct and indirect emissions generated by CNBC Arabiya's operation, based in Dubai, will be calculated using the UK government-funded Carbon Trust's carbon calculator and the figure is expected to be in the region of 180 tonnes of CO2e per year.

Carbon Capital Markets CEO, Lionel Fretz, said, "The United Arab Emirates is the world's second highest producer per capita of carbon emissions. We are delighted to be carbon offset provider for CNBC Arabiya and that they are taking the lead on this green initiative. Our objective is to ensure that we open doors to other UAE businesses who can participate in similar ventures and become more carbon efficient in their actions to tackle climate change".

Carbon Capital Markets will retire Kyoto compliant carbon credits known as Certified Emission Reductions (CERs) to offset CNBC Arabiya's carbon emissions. CERs are quality offsets which meet stringent criteria, and can be sold in the compliance and voluntary offsetting markets.

The CERs used in the agreement will be sourced from a United Nations approved CDM renewable energy and forest preservation project in Amazonas, Brazil.

Carbon Capital Markets is headquartered in London and has a core competency in the management of the entire carbon credit cycle under the Kyoto Protocol, from identifying and managing CDM projects through to trading and efficiently monetising carbon credits on the international markets.

Carbon Capital Markets intends that this collaboration will help facilitate future procurement goals in the United Arab Emirates as well as strengthen Carbon Capital Markets' presence in the Middle