Seagrass Limited, a climate action company focussed on scaling climate impact, has launched in the UAE on Thursday.

The wholly-owned subsidiary of E.ON, one of Europe’s largest operators of energy networks and energy infrastructure, said it will be based in the Abu Dhabi Global Market (ADGM) the financial centre located the UAE capital.

It holds a license to arrange trades in environmental instruments from ADGM’s Financial Services Regulatory Authority, Seagrass said in statement on Thursday.

Seagrass will connect major buyers of credits from a range of sectors – including energy, industrials, transportation and financial services – with credits from certified projects.

(Writing by Brinda Darasha; editing by Seban Scaria)