‎“Tadawul”: Our stake in Regional Voluntary Carbon Market ‎Company is 20%‎

The Saudi Tadawul Holding Group announced its participation with the Public Investment Fund in establishing the Regional Voluntary Carbon Market Company, which aims to support companies and sectors in the region to enable them to reach zero neutrality, in addition to ensuring the purchase of carbon credits to reduce carbon emissions in value chains.

The establishment of the Regional Voluntary Carbon Market Company, with a capital of 500 million riyals, will be 80% owned by the Fund and 20% by the Group, and its headquarters will be in Riyadh.

The announcement of the Regional Voluntary Carbon Market Company will contribute to the efforts to organize the largest auction of its kind globally for the trading of carbon credit today, October 25, 2022 AD, during the Sixth Edition of the Future Investment Initiative Conference in the capital, Riyadh. The auction is expected to witness the trading of one million tons of carbon credit, and the presentation of high-quality carbon credit certificates, in line with the standards of “CORSIA” registered in the “VERA” program.

It is expected that the group’s share in the company’s contribution will have a positive impact on the financial results of the group, after the start of its commercial operation.

It should be noted that the Public Investment Fund is a related party as it is the largest shareholder in the Saudi Tadawul Group Holding Company, which owns 70% of the group’s shares.