Manama, Bahrain (ots/PRNewswire) – Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, today announced the launch of its voluntary carbon offsetting platform Safa to help businesses and individuals better understand and manage their carbon footprint by contributing to best-in-class climate initiatives. This comes at the same time as the Kingdom of Bahrain’s participation in COP28, currently taking place in the United Arab Emirates.
Speaking on the occasion, His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, Managing Director of Mumtalakat, shared: “We underline our commitment to sustainability in various areas and strongly believe that real change happens when we all come together to make a collective impact . With Safa, individuals and companies have the opportunity to reduce their carbon footprint and actively participate in shaping a greener future, supporting the Kingdom of Bahrain’s goal of achieving net-zero emissions by 2060.”
Safa’s offset service is not an alternative to decarbonization efforts; Rather, by raising awareness, educating the population and spurring action among individuals and at the corporate level, Safa aims to complement key decarbonization initiatives by providing a user-friendly offset feature for hard-to-offset emissions from initiatives such as travel, accommodation and logistics. Furthermore, the goal is to make this service available to users by integrating it directly into their favorite everyday apps.
The newly launched user-friendly platform is proof that the Kingdom is leveraging technology and innovation as a key element for a faster, more affordable and effective transition to a net-zero household by 2060. The platform is accessible to all individuals and companies to facilitate the transaction of high-quality and globally certified carbon credits, allowing them to calculate and offset their carbon emissions. These credits are awarded to international environmental projects that aim to reduce or eliminate greenhouse gas emissions, with the aim of also including local and regional projects in the near future.
To make climate action easier for everyone, Safa partnered with CHOOOSE™️, a climate tech company that provides the leading Software-as-a-Service (SaaS) platform that enables its partners to share information on carbon emissions and a Offer seamless access to trusted climate solutions.
Information about Mumtalakat: Mumtalakat is the sovereign wealth fund of the Kingdom of Bahrain. With a mandate to promote the growth of prosperity in Bahrain through long-term investments based on sound financial, strategic and governance principles, Mumtalakat holds shares in over 50 trading companies with a portfolio spanning various sectors including industrial manufacturing, financial services, telecommunications , real estate, logistics, consumer goods, healthcare and education.
More details about Mumtalakat are on www.mumtalakat.bh to find
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Questions & Contact:
Jenan Maskati,
Head – Communications and External Affairs,
Bahrain Mumtalakat Holding Company,
E-Mail: tsatskati@mumtalakat.bh,
Phone: +973 3976 8880