<div id="readability-page-1" class="page"><div>DOHA, QATAR — The Global Carbon Council (GCC) and the Regional Voluntary Carbon Market Company (VCM), established by the Public Investment Fund (PIF) and Saudi Tadawul Group, announced a strategic partnership with to scale voluntary carbon markets through trusted standards and institutional-grade exchange infrastructure.Under this strategic partnership, carbon credits certified by the Global Carbon Council are now traded on Saudi Arabia’s VCM exchange platform. This strategic partnership has already demonstrated strong market traction, with more than 600,000 tons of GCC-certified carbon credits traded within the first month of the integration on the exchange.The early trading activity highlights growing regional demand for high-integrity, independently verified carbon credits and underscores VCM’s role in enabling price discovery, liquidity, and transparent market access.The Global Carbon Council is an international carbon crediting program that issues tradable credits to registered projects based on verified, results-based greenhouse gas (GHG) emission reductions and removals. In the Global South, GCC’s Program is the first international GHG and sustainable development program fully accredited by the International Civil Aviation Organization’s (ICAO) for Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), as well as International Carbon Reduction and Offset Alliance (ICROA), positioning the GCC Program as a critical gateway for channeling high-integrity climate finance into emerging markets.Credits certified by the GCC Program can be used by governments and companies to meet and enhance climate ambitions, including supporting Nationally Determined Contributions (NDCs) and enabling the trade of Internationally Transferred Mitigation Outcomes (ITMOs). The availability of GCC credits on VCM’s platform expands access to globally recognized credits for buyers in Saudi Arabia and the wider region.Dr. Yousef Alhorr, Founding Chairman of GCC, said:“Partnering with VCM enables GCC-certified projects to access a transparent, institutional marketplace and reach new sources of demand. The early trading volumes not only demonstrate how exchange-based platforms can accelerate climate finance and support national climate objectives but also reflect the strong standing and deep-rooted trust that the Global Carbon Council has developed as a leading global carbon market program.”Fadi Saadeh, Acting Chief Executive Officer and Head of Technology of VCM, said:“This strategic partnership with the Global Carbon Council reflects our efforts towards scaling voluntary carbon markets through credible standards and real market activity. The strong trading volumes seen in the first month since their inclusion demonstrate growing confidence in the Saudi carbon market and the role played by VCM’s exchange in connecting high-quality supply with regional and global demand.”VCM launched Saudi Arabia’s first voluntary carbon credit exchange platform in November 2024. The exchange is designed to support a transparent, scalable and increasingly liquid market by offering institutional-grade infrastructure, price and data discovery, open connectivity with global registries and multiple trading mechanisms including auctions and request-for-quote functionality.The voluntary carbon market is expected to grow from approximately USD 2 billion in 2020 to around USD 250 billion by 20501. VCM continues to expand its marketplace by attracting high-quality international partners and delivering trusted infrastructure to support the growth of voluntary carbon markets in Saudi Arabia and the wider region.[1] https://www.morganstanley.com/ideas/carbon-offset-market-growthAbout Global Carbon Council (GCC): The Global Carbon Council (GCC) is the first international carbon credit and sustainable development program, based in the Global South. It facilitates global stakeholders in implementing climate actions through a voluntary carbon offsetting program.The overall purpose of GCC is to contribute to achieve Paris Agreement objective of limiting global warming to 1.5°C by developing relevant standards and framework for voluntary carbon markets to catalyze, enhance and leverage climate change mitigation finance globally and especially for MENA region. In the Global South, GCC is the only international program fully accredited by ICAO’s CORSIA. GCC is also accredited by ICROA.Follow us on<ul><li>LinkedIn: https://www.linkedin.com/company/globalcarboncouncil/</li><li>X: https://x.com/carboncouncil</li><li>Visit our website: globalcarboncouncil.com</li></ul>About Regional Voluntary Carbon Market Company (VCM):VCM was established by the Public Investment Fund (PIF) and Saudi Tadawul Group Holding Company (Saudi Tadawul Group) in October 2022. PIF holds an 80% stake and Saudi Tadawul Group holds a 20% stake in the company. VCM aims to create a credible voluntary carbon market at speed and at scale with global impact. The market prioritizes high-quality carbon credits and positive climate action. The company is creating an ecosystem that includes an exchange for the trading of voluntary carbon credits and advisory services that support organizations in their decarbonization efforts. In October 2022, VCM hosted its first auction at the sixth Future Investment Initiative (FII) in Riyadh. In June 2023, VCM successfully auctioned 2.2 million tons of voluntary carbon credits in the largest-ever carbon credit sale in Nairobi, Kenya. In October 2023, VCM and PIF hosted the world’s first Global South Carbon Market Conference at the seventh FII edition in Riyadh. In November 2024, VCM launched the region’s largest carbon credits exchange on the side lines of COP29, while auctioning over 2.5 million tons of voluntary carbon credits in its third auction.Follow us on<ul><li>LinkedIn https://www.linkedin.com/company/voluntarycarbonmarket/ </li><li>X: https://twitter.com/vcm_en </li><li>Visit our website: vcm.sa </li></ul>GCC Media Contact:Hussam OthmanyDirector, Marketing &amp; CommunicationsE: h.othmany@gord.qaVCM Media Contact:media@vcm.saSend us your press releases to pressrelease.zawya@lseg.comDisclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. 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The Global Carbon Council (GCC) and the Regional Voluntary Carbon Market Company (VCM) have formed a strategic partnership to enhance voluntary carbon markets. This collaboration allows GCC-certified carbon credits to be traded on VCM's exchange platform in Saudi Arabia, with over 600,000 tons traded in the first month. The partnership aims to provide a transparent marketplace for carbon credits, supporting climate goals and enhancing market access. VCM, established by the Public Investment Fund and Saudi Tadawul Group, seeks to scale voluntary carbon markets and attract international partners.

ZAWYA-PRESSR: GCC and VCM sign a strategic partnership to accelerate regional carbon market growth