New york: The Regional Voluntary Carbon Market Company (VCM), established by the Public Investment Fund (PIF) and Saudi Tadawul Group, today announced a series of new strategic partnerships with leading North American carbon market entities at CMF Select in New York. These collaborations aim to strengthen the platform's global reach and expand access to carbon credit supply aligned with recognized voluntary market standards.
According to Saudi Press Agency, the newly announced partners include US-based SINAI Technologies Inc., Sequest, as well as Canadian carbon credit trader McGill St Laurent Climate Solutions. All three entities will collaborate with VCM through exclusive arrangements in Saudi Arabia, reinforcing Saudi Arabia's position as an emerging global hub for voluntary carbon markets.
As part of the collaboration, SINAI, a world-leading carbon accounting and decarbonization planning platform, will be exclusively delivered by VCM in Saudi Arabia. This collaboration will provide organizations with advanced emissions measurement and transition planning capabilities to achieve greenhouse gas (GHG) reduction targets, with all data hosted inside Saudi Arabia.
VCM will also partner with Sequest, a US-based carbon removal company deploying an approach focused on producing durable and scalable carbon removals. Sequest's projects will be deployed in Saudi Arabia, with carbon credits sold in Saudi Arabia offered exclusively through VCM's exchange.
Canadian trader McGill St Laurent Climate Solutions, which focuses on high-quality nature-based carbon solutions, will exclusively sell its carbon credits in Saudi Arabia through VCM. This will expand access to internationally recognized nature-based credits for regional buyers.
The release highlighted that the new partnerships further strengthen VCM's role as a transparent, high-integrity, institutional-grade exchange connecting global supply with regional demand. This will enable international climate solutions to be deployed and scaled through Saudi Arabia.
Acting CEO and Head of Technology of VCM Fadi Saadeh stated: "These partnerships reflect growing international confidence in Saudi Arabia's approach to building a high-integrity voluntary carbon market."
Corporate executives highlighted the crucial role of partnerships in driving global growth, stimulating investments, and increasing demand. They expressed their commitment to collaborating with the VCM to support the continued growth of the Saudi market. Additionally, they aim to deliver industrial-scale decarbonization solutions that provide long-term impact within the Kingdom.