Global Carbon Council and the Regional Voluntary Carbon Market Company (VCM), backed by the Public Investment Fund and Saudi Tadawul Group, partnered to scale voluntary carbon markets through trusted standards and institutional-grade exchange infrastructure.
Under the agreement, carbon credits certified by the Global Carbon Council are now tradable on Saudi Arabia’s VCM exchange platform. The integration has already gained strong traction, with more than 600,000 tonnes of GCC-certified carbon credits traded within the first month.
The early trading activity reflects rising regional demand for high-integrity, independently verified carbon credits and highlights VCM’s role in supporting price discovery, liquidity and transparent market access.
The Global Carbon Council issues tradable carbon credits to registered projects based on verified, results-based greenhouse gas emission reductions and removals. In the Global South, its programme is the first international greenhouse gas and sustainable development framework fully accredited by the International Civil Aviation Organization under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), as well as by the International Carbon Reduction and Offset Alliance, positioning it as a key conduit for channeling climate finance into emerging markets.
Credits certified under the GCC programme can be used by governments and companies to support climate ambitions, including Nationally Determined Contributions and the trade of Internationally Transferred Mitigation Outcomes. Their availability on VCM’s platform expands access to globally recognised credits for buyers in Saudi Arabia and the wider region.
Yousef Alhorr, Founding Chairman of the Global Carbon Council, said the partnership provides GCC-certified projects with access to a transparent, institutional marketplace and new sources of demand, adding that the early trading volumes demonstrate how exchange-based platforms can accelerate climate finance and support national climate objectives.
Fadi Saadeh, Acting Chief Executive Officer and Head of Technology at VCM, said the strong initial trading volumes signal growing confidence in the Saudi carbon market and underscore the exchange’s role in connecting high-quality supply with regional and global demand.
VCM launched Saudi Arabia’s first voluntary carbon credit exchange in November 2024. The platform is designed to support a transparent and scalable market through institutional-grade infrastructure, price and data discovery, connectivity with global registries and multiple trading mechanisms, including auctions and request-for-quote functionality.
The voluntary carbon market is expected to expand significantly in the coming decades, and VCM said it will continue to attract international partners and build trusted infrastructure to support market growth in Saudi Arabia and across the region.
