GCC and VCM Form Strategic Partnership to Enhance Saudi Carbon Market
The Global Carbon Council (GCC) and the Regional Voluntary Carbon Market Company (VCM) have established a strategic partnership to enhance Saudi Arabia's voluntary carbon market by trading GCC-certified carbon credits on VCM's platform. Within the first month, over 600,000 tons of credits were traded, reflecting robust regional demand. This collaboration aims to provide access to high-integrity carbon credits, supporting climate goals such as Nationally Determined Contributions (NDCs).
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The Global Carbon Council (GCC) and the Regional Voluntary Carbon Market Company (VCM) have signed a strategic partnership to scale voluntary carbon markets by trading GCC-certified carbon credits on VCM's platform in Saudi Arabia. Within the first month, over 600,000 tons of credits were traded, indicating strong regional demand and market engagement.
This partnership aims to provide governments and companies with access to high-integrity carbon credits to support climate goals, including Nationally Determined Contributions (NDCs). VCM launched Saudi Arabia's first voluntary carbon credit exchange platform in November 2024, offering infrastructure for price discovery and liquidity in the carbon market.
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