The Regional Voluntary Carbon Market Company (VCM), established by the Public Investment Fund (PIF) and Saudi Tadawul Group, has entered into strategic partnerships with North American carbon market firms, positioning Saudi Arabia as a regional and global hub for voluntary carbon trading.
The announcement, made at CMF Select in New York, revealed new collaborations with US-based SINAI Technologies, Sequest, and Canadian carbon credit trader McGill St Laurent Climate Solutions. Each company will work exclusively with VCM in Saudi Arabia, expanding access to high-quality carbon credits aligned with recognized voluntary market standards.
Carbon accounting and decarbonization firm SINAI will provide its platform exclusively in Saudi Arabia through VCM. The solution enables organizations to measure emissions accurately and plan greenhouse gas (GHG) reductions, with all data hosted locally.
US-based carbon removal company Sequest will deploy durable and scalable carbon removal projects in Saudi Arabia, offering the resulting credits exclusively through VCM’s platform. McGill St Laurent Climate Solutions will similarly sell its nature-based carbon credits exclusively in Saudi Arabia through VCM, enhancing access to internationally recognized environmental solutions for regional buyers.
VCM’s partnerships aim to create a transparent, high-integrity exchange that links global supply with regional demand. The collaborations also facilitate the deployment of verified climate solutions at scale in Saudi Arabia.
Fadi Saadeh Acting CEO-VCM
“These partnerships reflect growing international confidence in Saudi Arabia’s approach to building a high-integrity voluntary carbon market. By welcoming leading North American firms, we are expanding access to credible climate solutions for the region.”
Jess Waldeck, CEO of SINAI, added that, “This partnership allows companies in Saudi Arabia to make informed, data-driven climate decisions while advancing sustainability goals across the Middle East.”
Gary Ganz, CEO of Sequest, said that, “We are excited to support VCM in establishing Saudi Arabia as a leading hub for voluntary carbon markets and to deliver industrial-scale, durable carbon removals.”
First voluntary carbon exchange
VCM launched Saudi Arabia’s first voluntary carbon credit exchange in November 2024. The platform provides institutional-grade infrastructure, multiple trading mechanisms including auctions and request-for-quote functionality, and connectivity with global registries, supporting a transparent and scalable carbon market.
The voluntary carbon market is projected to grow from roughly $2 billion in 2020 to an estimated $250 billion by 2050.
