ZAWYA-PRESSR: Almarai signs MoU with the Regional Voluntary Carbon Market Company to explore participation opportunities
ALMARAI 2280.SA | 0.00 | |
TADAWUL GROUP 1111.SA | 0.00 |
Riyadh, Saudi Arabia – Almarai Company signed a Memorandum of Understanding (MoU) with The Regional Voluntary Carbon Market Company (VCM) during the official announcement of the CMF Select Red Sea 2026 that took place at the inaugural Saudi Carbon Credit launch in Riyadh.
The MoU was signed by Eng. Ahmed Abu Al-Ghaith, Executive Vice President of Quality and Support Services at Almarai Company, and Fadi Saadeh, Chief Executive Officer of the Regional Voluntary Carbon Market Company (VCM). It will allow Almarai Company to explore opportunities for participation in the Kingdom’s emerging voluntary carbon market and the potential to join VCM’s trusted platform for carbon credit trading. The platform facilitates the buying, selling, sourcing, and trading of voluntary carbon credits issued by accredited certification bodies, supporting national efforts in climate finance and emissions reduction.
This collaboration aligns with Saudi Arabia’s Vision 2030 and its net-zero ambitions, positioning Almarai Company among the early participants in the Kingdom’s voluntary carbon market. The move enables the company to explore generating carbon credits linked to its sustainability initiatives.
The Regional Voluntary Carbon Market Company (VCM) is a leading institutional initiative established in 2022, backed by the Public Investment Fund (PIF) and Saudi Tadawul Group. It focuses on building and operating a high-integrity voluntary carbon market for trading carbon credits certified by reputable issuers. The company has successfully conducted multiple previous auctions - exceeding over 15 million tons of carbon credits traded since its inception.
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