Business Standard

Saudi Arabia sets up carbon market firm to support net-zero goal

The Public Investment Fund said it started the Regional Voluntary Carbon Market Co. with Saudi Tadawul Group

Saudi Arabia flag
Premium

Bloomberg
Saudi Arabia’s sovereign wealth fund started a voluntary carbon market firm and plans to auction a million tons of credits, supporting the kingdom’s net zero target.

The Public Investment Fund said it started the Regional Voluntary Carbon Market Co. with Saudi Tadawul Group. The new company aims to help facilitate the auction on Oct. 25, the first day of the three-day Future Investment Initiative in Riyadh, a summit seeking to attract billions of dollars to Saudi Arabia.

“The company will offer guidance and resourcing to support businesses and industry in the region as they play their part in the global transition to

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in