Saudi Arabia’s sovereign wealth fund started a voluntary carbon market firm and plans to auction a million tons of credits, supporting the kingdom’s net zero…
RIYADH: Saudi Arabia’s Public Investment Fund has announced the launch of the Regional Voluntary Carbon Market Co. in collaboration with Tadawul Group. In a statement issued on Monday, the sovereign wealth fund said it would hold an 80 percent stake in the new entity, with the remaining shares held by the stock exchange operator. Based in Riyadh, VCM will help facilitate a