RIYADH: Saudi Arabia has emerged as an influential player in carbon markets through its Regional Voluntary Carbon Market Co., the Saudi Press Agency reported on Tuesday.
The company runs a regulated marketplace in which public and private entities can buy and sell certified carbon credits.
Such carbon credits represent verified reductions or removals of greenhouse gas emissions that companies can buy to help offset their environmental impact.
Fadi Saadeh, the CEO of the RVCMC, said the company was created to turn climate action into a sustainable economic and investment opportunity by building a regional carbon market with strong governance and transparency.
It aligns with the Saudi Green Initiative and the Middle East Green Initiative, and supports the Kingdom’s net-zero 2060 goal under the circular carbon economy approach.
