Sharjah Signs Carbon Management Agreement With myclimate

Switzerland-based non-profit foundation, myclimate, has partnered with the UAE Business Council for Sustainable Development (UAE BCSD) to raise awareness of national issues of sustainability and drive green initiatives within the local private sector, regarding the Carbon Footprint.

Myclimate, which is represented in the UAE by Dubai-based sustainability expert Farnek Avireal, was formed in 2002 as a joint project between students and professors in Zürich, Switzerland, becoming a leading global provider of voluntary and compliance carbon offsetting solutions, using offset payments to develop and support carbon offset projects around the world

myclimate aims to introduce measures to offset carbon emissions, with the UAE BCSD through a series of seminars and exhibitions in the UAE among its first approaches in this regard. These events themselves will be carbon neutral.

The first of these seminars will be the LEED workshop program 2011-2012 initiated by the UAE BCSD, which consists of four workshops running from July 2011 to April 2012 at the Sharjah Chamber of Commerce & Industry, Sharjah, UAE.

Highlighting the ideal fit with the UAE and Gulf region in general, a key emphasis of myclimate is the carbon offsetting solutions via effective carbon offset projects with renewable energy sources and other energy efficiency measures.

“This memorandum of understanding will help achieve both the objectives of myclimate and the UAE BCSD - to build greater awareness of sustainability, especially carbon management and offset programmes, within the UAE.” said Rene Estermann, CEO, myclimate.

In a second step, vertical industries across the UAE will be provided with tailor-made carbon neutral solutions for their various business sectors. For instance, among the first industries to be targeted is the UAE’s burgeoning tourism and hospitality sector, with the myclimate - UAE BCSD partnership providing carbon neutral alternatives to various processes used within hotels. Likewise, printing companies and aviation companies across the UAE will be shown the benefits of carbon neutral alternatives and solutions.

A further feature of the partnership is a competition, with entries requested from projects that reduce or neutralise carbon emissions for various industries. Winning candidates within the competition will also have the potential to put their ideas into practice, under the backing and guidance of UAE BCSD.

“myclimate and UAE BCSD will carry out the initial judging process in determining which projects qualify for The Gold Standard Premium quality carbon credits,” said Van T. Tran, Head of Development , UAE Business Council for Sustainable Development.

The Gold Standard is an independent label that certifies high-quality carbon offset projects and the emission reduction certificates they generate. The sustainability criteria outlined in this standard are the guidelines adopted for all myclimate projects.

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Etisalat signs Strategic Agreement with Sharjah Holding

WAM Dubai, Oct. 10th, 2011 (WAM)-- Etisalat has signed a strategic agreement during the GITEX GULFCOMMS exhibition, with Sharjah Holding.

Sharjah Holding is the community focused real estate developer and strategic partnership between the Government of Sharjah and Majid Al Futtaim Properties.

The agreement was signed by Abdul Aziz Taryam, General Manager, Etisalat (Northern Emirates) and Walid Al Hashimi, CEO, Sharjah Holding.

The agreement states that Etisalat will implement the infrastructure for Sharjah Holding, providing ICT and smart solutions for its future projects according to international best practices and their specific business requirements.

Commenting on this occasion, Abdul Aziz Taryam said: "The UAE has witnessed significant developments in the provision of e-services, and Etisalat's strategy is to provide the latest global technologies in line with the government's vision to consistently enhance these services. We are proud of this partnership which contributes to supporting initiatives which aim to enhance customer service levels and provide them with additional convenience." "We will work closely with Sharjah Holding to conduct a comprehensive study on their current and future business goals and requirements, in order to present suitable solutions. We will also form a joint work team whose core focus will be to implement the items of this agreement and achieve its objectives," Taryam concluded.

Walid Al Hashimi, CEO, Sharjah Holding said: "We are delighted to initiate this strategic partnership with Etisalat and look forward to working closely with them to ensure that our developments have the very best telecommunications infrastructure in place from day one.

We are committed to delivering the very best in community living and services across our mixed use and retail developments in Sharjah - Etisalat's e-services are one of the key amenities expected in any modern community and we are delighted that we will be able to provide them for our customers." WAM/ES/AM

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UAE signs initial Agreement with Kenya to Avoid Double Taxation on income

WAM Abu Dhabi, July 5th, 2011 (WAM) -- In line with its continuous efforts to enhance its financial and economical relations with other countries and to ensure its sustainable growth, the UAE has signed an agreement with the Republic of Kenya to avoid double taxation on income.

Signed by the Ministry of Finance (MoF) on behalf of the UAE, the agreement is expected to further develop financial cooperation between both parties. It also aims at supporting investment opportunities and financial development efforts between the UAE and the Republic of Kenya, in addition to implementing progress goals set by the UAE leadership.

Coinciding with the UAE's efforts to enhance its participation in the global economy, the signed agreement supports leadership efforts in facilitating the free movement of factors of production, increasing available investment opportunities, promoting import and export activities, in addition to developing trade practices and exports.

Commenting on the agreement, Younis Haji Al Khouri, Undersecretary of (MOF), emphasized that the new agreement would shape the legal framework for tax relationships with the Republic of Kenya and would administer financial and economic interactions by Emirati and Kenyan investors in both countries.

"The UAE will be receiving a range of benefits as a result of the signed agreement. Such agreements are important as they allow Emirati investors to obtain tax reductions and exemptions on income and capital in both the public and private sectors. Furthermore, these agreements aim at protecting UAE investments from additional taxation in the future, while also maintaining Emirati investors' rights in withdrawing their investment capital from any of the countries that have entered these agreements," Al Khouri said.

The UAE has signed 57 similar agreements to date in support of its efforts to diversify income through the reduction of transaction tax applied on UAE investments, whilst also enhancing bilateral trade relations, the ability to attract foreign investment, and the free flow of capital.

Moreover, such agreements also aim at promoting the UAE's regional and international economical and financial role, and at avoiding double taxation through the creation of a conducive investment climate in both the public and private sectors. They also support efforts to enhance the air transport industry and increase trade and tourism practices.

WAM/ES/AM

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