Saudi Tadawul Group and the Regional Voluntary Carbon Market Co. have announced the first sustainability-focused edition of the Capital Markets Forum, titled “Select — Red Sea,” according to the Saudi Press Agency. The announcement was made at a ceremony in Riyadh attended by officials from the capital markets, sustainability, and corporate sectors.
Forum Details and Objectives
The forum, scheduled for November 24, will bring together investors, companies, policymakers, market participants, and sustainability leaders to explore the growing links between capital markets, climate finance, and carbon markets. It aims to provide a platform for dialogue, partnerships, and opportunities in sustainable finance, further strengthening Saudi Arabia’s position as a growing investment and capital markets hub.
First Issuance of Saudi Carbon Credits
As part of the event, the Regional Voluntary Carbon Market Co. will host the first issuance of Saudi carbon credits on its platform later this year, marking a major milestone in the Kingdom’s voluntary carbon market. The credits will be generated from projects within Saudi Arabia, including nature-based solutions, industrial decarbonization, and innovative carbon removal technologies.
Statements from Key Officials
Fadi Saad, chief executive of the Regional Voluntary Carbon Market Co., said the partnership will strengthen the role of climate finance and carbon markets in the Kingdom’s capital markets. He emphasized that the first issuance of Saudi carbon credits on the platform marks a milestone, reflecting progress in developing Saudi-origin carbon credits and building a trusted carbon market ecosystem.
Khalid Al-Hussan, chief executive of Saudi Tadawul Group, said the forum was established to bring together institutions and leaders shaping the future of capital markets as sustainability becomes increasingly important to investors, companies, and economies worldwide.
Pipeline of Carbon Projects
The Kingdom is building a pipeline of carbon projects, with more than 30 initiatives under development that are expected to generate Saudi-origin carbon credits in the coming years. These projects include nature-based solutions, industrial decarbonization, and innovative carbon removal technologies, reflecting growing participation from international developers and local organizations.
Industry Participation
More than 30 companies have signed memoranda of understanding with the Regional Voluntary Carbon Market Co., expressing their intention to participate in the inaugural issuance of Saudi carbon credits. This demonstrates strong industry interest in supporting the Kingdom’s voluntary carbon market and climate finance initiatives.
