Saudi Press

Saudi Arabia and the world
Friday, Sep 19, 2025

PIF announces establishment of Regional Voluntary Carbon Market Company

PIF announces establishment of Regional Voluntary Carbon Market Company

Saudi Arabia’s Public Investment Fund (PIF) announced on Monday the establishment of the Regional Voluntary Carbon Market Company.
PIF, one of the largest and most impactful sovereign wealth funds in the world, holds an 80 percent stake while Saudi Tadawul Group Holding Company holds the remaining 20 percent stake in the company.

The company will offer guidance and resourcing to support businesses and industries in the region as they play their part in the global transition to net zero, ensuring that carbon credit purchases go above and beyond meaningful emission reductions in value chains.

It is noteworthy that PIF and Saudi Tadawul Group announced the Voluntary Carbon Market (VCM) Initiative in September 2021. Crown Prince and Prime Minister Mohammed bin Salman, who is also chairman of PIF, highlighted at that time Saudi Arabia’s leading role in contributing to the reduction of the impact of climate change and encouraging institutions to reduce their carbon emissions as part of several initiatives that were launched in this regard.

Headquartered in Riyadh, the new company’s announcement will help facilitate the efforts of the world’s largest-ever carbon credit auction on Tuesday at the 6th edition of the Future Investment Initiative (FII) in Riyadh. The auction will involve a total of one million tons of carbon credits and will offer high-quality credits including CORSIA-compliant, Verra-registered certificates.

Yazeed Al-Humied, deputy governor and head of MENA Investments at PIF, said: “We are delighted to announce the establishment of the Regional Voluntary Carbon Market Company, as a major milestone for the Middle East and North Africa (MENA) region. We are passionate about the potential for voluntary carbon markets to deliver additional carbon reduction benefits throughout the region, thereby ensuring that the MENA region is at the forefront of climate action and that Saudi Arabia is a leading force in solving the climate challenge.

The company will play an important role in PIF’s wider efforts to drive the investment and innovation required to address the impact of climate change and support Saudi Arabia’s efforts to achieve net zero by 2060.

On his part, Eng. Khalid Al-Hussan, CEO of Saudi Tadawul Group, said that the Saudi Tadawul Group has an important role to play in championing Saudi Arabia’s efforts towards a sustainable future. “We continuously work towards encouraging the adoption of ESG disclosures in the Saudi capital market, to advocate for a better, more transparent future, and we are delighted to be an integral part, strategically and operationally, of the new company. We believe it will be instrumental in supporting Vision 2030 and in further realizing the Group’s vision of being a gateway to the MENA region for global investors.”

Riham ElGizy, director of VCM Initiative, said that the inaugural auction represents the first step towards becoming a leading presence in the global voluntary carbon market ecosystem. “With an expected one million tons of carbon credits available to trade, we predict that our auction will be the largest carbon credit auction to date,” he added.

The company’s establishment is a continuation of PIF initiatives to support Saudi Arabia’s green agenda and follows previous announcements by PIF, including the completion of its $3 billion inaugural green bond, and the various renewable projects PIF is spearheading as part of its commitment to developing 70 percent of Saudi Arabia’s renewable energy capacity, in line with Saudi Vision 2030.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
×