The Maldives has done a lot to try to protect itself from the catastrophic effects it is expecting as a result of climate change, including holding underwater government meetings, buying a new island, and building massive wind farms. Adding one more achievement to its record, it is now home to the first “carbon neutral” stock exchange in the world.
The Maldives Stock Exchange (MSE) teamed up with CarbonNeutral Company, a UK-based company, to measure and offset its carbon emissions.
“The company said that it had measured greenhouse gas emissions associated with the MSE’s energy consumption, waste disposal, company controlled vehicles, business travel and staff commuting and purchased carbon credits to offset the emissions,” BusinessGreen reports.
11 tons of carbon emissions associated with the MSE have now been offset by a wind farm in India.
The MSE plans to continue finding ways to cut its own emissions directly as well.
Ibrahim Nasir, chief executive at the MSE, hopes that due to its new carbon neutral status, companies listed on the stock exchange will also look into and implement carbon emissions reduction programs.
Additionally, he says, “Organisations that implement comprehensive carbon reduction programmes can enhance their corporate reputation by showing customers, staff and prospects that they are taking direct action against climate change.”
With Maldives president Mohamed Nasheed’s commitment to making all of Maldives carbon neutral by 2020, it is hoped and expected that many other Maldives companies and institutions will be cutting and offsetting their carbon emissions soon.
Image Credit: bobsuperfoto via flickr/CC license