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وكالة الأنباء القطرية
Saudi platform advances carbon market
The Kingdom of Saudi Arabia launched the Regional Voluntary Carbon Market company to enhance efforts toward transitioning to a low-carbon economy, in line with Vision 2030 and the goal of achieving net-zero emissions by 2060. The platform allows government and private sector entities to buy and trade certified carbon credits to support emission reduction projects such as waste management, reforestation, and renewable energy. Since its establishment in October 2022, the market has sold over 6.2 million tons of carbon credits, valued at more than 350 million riyals, and has hosted the three largest international auctions. This reflects the rapid growth and strong confidence in the market’s role as a driver of sustainability and the green economy in the region. The Kingdom aims to expand the market and connect it with global markets to reinforce its position as a leading international hub for high-integrity carbon markets, while also boosting investments in emission reduction projects and developing national capabilities.
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