Blue Carbon LLC forest carbon deals (UAE, Africa)
- The record does not name which of my species, waters, soils or forests were harmed.
A Dubai company founded in 2022 signed memoranda in 2023 covering about 24.5 million hectares of forest in Africa and elsewhere. By late 2025 the Liberian deal was reported halted and no credits had been issued.
Non-binding memoranda signed in 2023; no credits issued.
Status As of March 2026: Liberia deal reported halted, Zambia ended without any transaction, Zimbabwe at registration-application stage; no credits issued.
- Blue Carbon LLC and its founder — Optional exclusive rights to forest carbon; according to critics, a green profile ahead of COP28.
- Forest communities in the named areas — Community land rights put at risk, per the AP report. AP (via WSLS)
What happened
Blue Carbon LLC was founded in Dubai in October 2022 by Sheikh Ahmed Dalmook Al Maktoum, a member of Dubai's ruling family. In 2023, ahead of the COP28 climate summit hosted by the UAE, it signed memoranda with Liberia, Zimbabwe, Zambia, Tanzania and Kenya, and with Papua New Guinea and three Caribbean countries, covering about 24.5 million hectares in total.
The Liberian memorandum covered about 1 million hectares for 30 years; the sources describe this as about 10% of the country or about 15% of its forests. The Zimbabwean memorandum covered 7.5 million hectares, about 20% of the country. One source gives Zambia as 8 million hectares. Daily Maverick reported the deals on 28 November 2023 and the AP reported on the risks to indigenous livelihoods in April 2024.
A draft Liberian contract, as reported, gave the company sole decision over the sale and price of carbon credits.
By November 2025, in a joint AFP and Code for Africa investigation, a Liberian official described the deal as 'halted', and the Zambian agreement had ended without any transaction. The company's website had closed, it was not found in any carbon registry, and it did not respond. As of March 2026, per the sources reviewed, the Zimbabwean deal had reached only a registration application.
- 2022October: Blue Carbon LLC founded in Dubai
- 2023Memoranda signed with African, Caribbean and Pacific countries ahead of COP28; 28 November: Daily Maverick reports the deals
- 2024April: AP reports concerns about risks to indigenous livelihoods
- 2025November: AFP and Code for Africa report the deals stalled; Liberia 'halted', Zambia ended without any transaction
What was said
Where accounts differ
Each party's account, side by side, with its source. The record does not settle these points; it shows them.
The deals stalled by 2025; no credits issued; company not found in carbon registries.
Al-MonitorThe oil-producing COP28 host acquired green credentials before the summit.
How it looked
Shown
Recorded
- Non-binding memoranda covering about 24.5 million ha, 30-year terms.
- No credits issued; no registration in any carbon registry found.
- Liberian deal reported halted; Zambian agreement ended without any transaction.
Who gained
Reached nature or the ground
Gained elsewhere
Responses on record
- Blue Carbon LLC (November 2025): No response; reported as silent, with its website closed. · Al-Monitor
- Liberian official (November 2025): Described the deal as 'halted'. · Al-Monitor
In court and with insurers
Lawsuits and rulings
Insurers
What nature saw
Nature's report opens this page. Below: further outcomes measured on the ground.
What we don't know
Nature
- Not measured Harm to nature: No independent ecological evaluation is on record.
Court
- None on record No court case on record.
Accounts
- Disputed Whether the deals were a genuine climate venture
- None on record Blue Carbon LLC: No public response found; company reported silent.
Record
- None on record Liberian area is described variously as about 10% of the country and about 15% of its forests.
- Not disclosed The company did not respond; no public statement from it was found in the sources reviewed.
- Insufficient Reported but not independently verified: that the Liberian draft gave the company 70% of credit revenue.
Did the harm stop?
The sources reviewed describe the Liberian deal as halted and the Zambian agreement as ended by 2025; no credits were issued.
Who paid?
No payment is on record in the sources reviewed.
Sources
Press and investigations
- Dubai carbon trader buys up African forestsDaily Maverick · 2023-11-28
- A Dubai company's staggering land deals in Africa raise fears about risks to indigenous livelihoodsAP (via WSLS) · 2024-04-07
Communities and civil society
- Blue Carbon LLC signed carbon deals (relying on AFP and Code for Africa)REDD-Monitor · 2025