Hilshaw Group appointed to develop smart green cities across CIS states

Dubai - The Smart City network will be developed across Grodno in Belarus, Bishkek in Kyrgyzstan, Tbilisi in Georgia, Almaty & Nur Sultan in Kazakhstan with the addition of Tirana in Albania, and Podgorica in Montenegro

Dubai-based Hilshaw Group has been appointed by St. Petersburg-based Investment Group, Selleh, to design, plan and develop a network of smart green cities to mitigate the effects of climate change and curb the region's carbon footprint.

The smart city network planned for Belarus, Kyrgyzstan, Georgia, Kazakhstan, Albania, and Montenegro will integrate with the formation of 'The Pan European Green Bank.' The bank will function as a funding resource for smart green projects globally through the trading of carbon credits.

Carbon credits are a concept of any tradable certificate that gives the bearer the right to emit one ton of carbon dioxide or equivalent greenhouse gas. Carbon credits and carbon markets are a part of national and international attempts to mitigate the growth in concentrations of greenhouse gases. One carbon credit is generally equal to one ton of carbon dioxide.

Carbon trading is a process of emissions trading with the goal is to encourage low emissions or less carbon-intensive approaches than those used when there is no cost to emitting carbon dioxide. The sales of these carbon credits to commercial entities willing to lower their carbon footprint will be used to fund and develop the projects further and introduce more such projects globally by the formed 'The Pan European Green Bank.'

business@khaleejtimes.com