The voluntary carbon market saudi arabia story is closely tied to a single builder: the Regional Voluntary Carbon Market Company (RVCMC). RVCMC was established by the Public Investment Fund (PIF) and Saudi Tadawul Group (STG) in October 2022. PIF holds an 80% stake and Tadawul Group holds a 20% stake. The company says it is aiming to create a credible voluntary carbon market “at speed and at scale,” prioritizing high-quality carbon credits and positive climate action.
Saudi Arabia’s wider direction matters here. In 2021, the government announced a national net-zero greenhouse gas target for 2060 and adopted the Circular Carbon Economy (CCE) concept as a framework for climate mitigation. Ecoryx links the Kingdom’s carbon market push to Vision 2030 objectives and climate commitments. It also notes that Saudi Arabia and the UAE are spearheading carbon market development in a MENA ecosystem that is “emerging but rapidly growing.”
RVCMC’s early proof point has been auctions. One report says RVCMC oversaw the sale of more than 2.2 million carbon offsets in what it described as the largest auction of voluntary carbon credits yet. Another report says RVCMC sold 2.2 million metric tons of carbon credits at its second auction in Kenya. At COP29, an opening auction on the exchange platform featured 22 companies from Saudi Arabia and other countries participating.
The goal is not only to run auctions. RVCMC says it is creating an ecosystem that includes an investment fund for climate mitigation projects, an exchange for the trading of voluntary carbon credits, and advisory services that help organizations understand how to decarbonize. Arab News adds that RVCMC’s trading platform is designed to provide “institutional infrastructure” for both sellers and buyers, with more speed and security for transactions.
How RVCMC Is Trying to Turn Local Momentum Into a Global Marketplace
RVCMC is also using partnerships to widen participation. In December 2025, VCM announced a Memorandum of Understanding with Marubeni Corporation, described as the first Japanese company to collaborate with the exchange. VCM also signed a partnership with Climate Bridge International from Singapore as an advisory partner. VCM said the work with Climate Bridge International will jointly accelerate the development of carbon project development in Saudi Arabia and the global south.
Saudi Arabia is also placing carbon markets in bigger investment conversations. In October 2025, the FII Institute announced a strategic partnership with VCM to advance high-integrity climate finance. The statement says the collaboration will accelerate the growth of high-integrity carbon credit markets by connecting global buyers and suppliers and mobilizing investment in projects that reduce, remove, and offset emissions. It also frames carbon markets as tools for net zero while supporting green economic diversification in line with Saudi Vision 2030.
What is the voluntary carbon market saudi arabia platform called?
Who owns RVCMC?
What has RVCMC achieved so far through auctions?
What happened at COP29 for Saudi Arabia’s carbon credit exchange platform?
Which international partners did VCM/RVCMC announce in Asia?
