Saudi Arabia’s push to build a regional hub for carbon trading is gaining early traction. The Global Carbon Council (GCC) and the Regional Voluntary Carbon Market Company have signed a strategic partnership allowing GCC-certified carbon credits to trade on Saudi Arabia’s voluntary carbon exchange.
More than 600,000 tons of credits changed hands in the first month after the integration, signaling strong regional demand for independently verified carbon credits.
The agreement links an international crediting program with an exchange backed by the Public Investment Fund, which has an estimated $941 billion under management, and the Saudi Tadawul Group in charge of the country’s stock and securities exchanges.
Together, the organizations aim to scale voluntary carbon markets by pairing recognized standards with institutional-grade trading infrastructure, offering clearer price signals, improved liquidity, and broader market access.
Dr. Yousef Alhorr, the council’s founding chairman, said, “Partnering with VCM enables GCC-certified projects to access a transparent, institutional marketplace and reach new sources of demand. The early trading volumes demonstrate how exchange-based platforms can accelerate climate finance and support national climate objectives.”
The Global Carbon Council issues tradable credits to projects that deliver verified greenhouse gas emission reductions or removals. Its program is accredited by the International Civil Aviation Organization under the CORSIA framework and by the International Carbon Reduction and Offset Alliance, allowing its credits to be used by governments and companies pursuing climate goals.
Fadi Saadeh, acting chief executive and head of technology at VCM, added, “This strategic partnership with the Global Carbon Council reflects our efforts towards scaling voluntary carbon markets through credible standards and real market activity. The strong trading volumes seen in the first month demonstrate growing confidence in the Saudi carbon market and the role played by VCM’s exchange in connecting high-quality supply with regional and global demand.”
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