RVCMC Selects Xpansiv For Credit Exchange In Saudi Arabia

RVCMC Selects Xpansiv For Credit Exchange In Saudi Arabia - Carbon Herald

The Regional Voluntary Carbon Market Company (RVCMC) announced its selection of Xpansiv for the launch of its very own carbon credit exchange in Saudi Arabia. 

Xpansiv is among the leading market infrastructure providers for the global energy transition, and it will lend its expertise to build the tech infrastructure for the new carbon credit exchange. 

The move will be a part of RVCMC’s larger endeavor to rapidly grow the global supply and demand of carbon credits and thus channel funds towards carbon projects in the Global South. 

Relevant: The Johannesburg Stock Exchange And Xpansiv Launch Voluntary Carbon Market In South Africa

Xpansiv’s robust infrastructure will provide both buyers and sellers with high-speed and secure transactions. 

The new exchange will also benefit from the company’s open-access market infrastructure, including a fully automated, same-day settlement platform and a portfolio management system.

Furthermore, both the settlement platform and portfolio management system will be integrated with the world’s top registries.

Rigorous standards to ensure transparency & the highest quality

RVCMC will establish strict criteria for the exchange. This will guarantee that only top-quality carbon offset projects, verified by independent standardization bodies, are listed. 

This, in turn, will promote the world’s move towards cleaner energy sources. The exchange will utilize contracts that reflect the best practices currently used in the market, with an eventual focus on projects that remove carbon dioxide from the atmosphere.

Riham ElGizy, the CEO of RVCMC, stated: “The world needs to use every tool at its disposal to tackle the devastating impacts climate change is already having. As our previous two auctions demonstrated, there is growing demand from leading businesses in Saudi Arabia to play their part.” 

Relevant: Xpansiv Started Consultation On Instruments Aligned With ICVCM Core Carbon Principles

“Developing a carbon credit trading exchange is the next step in RVCMC’s mission to become one of the largest voluntary carbon markets in the world by 2030. Our work with Xpansiv will help us build the infrastructure the market needs for a thriving, transparent and increasingly liquid market, one that can maximize the role of carbon offsets in tackling climate change across the Global South,” ElGizy said.

Xpansiv CEO John Melby expressed his delight on behalf of the company to be working with RVCMC.

“We look forward to supporting the company’s mission to develop a marketplace that will channel carbon finance at scale, which is essential to realizing the global energy transition at an accelerated pace,” Melby said.

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