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In an interview with ZAWYA, Jan Haizmann, CEO of ZETA (Zero Emissions Traders Alliance), highlighted the potential of regional carbon markets to advance the GCC’s sustainable fuel goals. He emphasized the need for a unified approach akin to Europe’s Emissions Trading System (ETS) to effectively reduce emissions and support green fuel projects.
Haizmann pointed out that the lack of regional and national carbon markets could hinder the GCC’s ambitions to lead in sustainable fuels like green hydrogen and ammonia. ZETA aims to create a GCC-based clean energy market that mirrors the European ETS, addressing the current fragmented efforts in the region.
He noted that a regional GCC-ETS could significantly enhance impact compared to isolated national initiatives. By setting common standards and facilitating transparent market practices, ZETA aims to drive effective carbon pricing and risk management and also plans to foster collaboration, develop standard contracts, and create pricing benchmarks for sustainable commodities.
Haizmann stressed that GCC countries should not only focus on exports but also develop regional markets to maximize their sustainable production potential. ZETA’s efforts, including collaboration with stakeholders and development of certification and pricing benchmarks, are expected to play a crucial role in the GCC's transition to a low-carbon economy.
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