RIYADH: Expressing her optimism about the prospects of voluntary carbon credits, the CEO of Regional Voluntary Carbon Market Co. expects a positive response from the Middle East and North Africa region, with the market set to reach 100-150 million tons by 2030. Other companies that participated in the auction included Golf Saudi, Saudi telecom giant stc, Saudi Electricity Co., and the Saudi National Bank. The company, which allows carbon emitters to offset their emissions by purchasing carbon credits, seeks to be a global leader in the carbon market. “Not only serving the Saudi market or even the MENA region, we want to be a global market and we can do that,” she noted. “What we provide is very different than a typical carbon market because we look at it holistically from an ecosystem perspective,” ElGizy said.

Source: The North Africa Journal October 11, 2023 20:37 UTC