Saudi Arabia’s PIF and Saudi Tadawul Group plan voluntary exchange platform for carbon credits in MENA region
Published 03 Sep,2021 via Arab News - Economy - RIYADH: Saudi Arabia’s Public Investment Fund in collaboration with the Saudi Tadawul Group has announced plans to establish a Riyadh voluntary exchange platform for carbon offsets and credits within the MENA region as part of efforts to combat climate change.
Under the initiative announced on Friday, the platform will become the primary destination for companies and institutes seeking to reduce their emissions through the trading of verified, approved and high-quality carbon equivalent credits certificates.
The voluntary exchange platform will come as part of extended alignment efforts with regulatory entities, such as the Designated National Authority for Clean Development Mechanism (DNA), along with local and international expertise to identify regulatory and operational methods, business models and governance practices to support the reduction of climate change effects and contribute to Paris Agreement goals.
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