SAUDI ARABIA: Bank Albilad is among more than 30 entities that have signed MoUs with the Regional Voluntary Carbon Market Company (VCM) expressing their intention to participate in the inaugural Saudi carbon credits launch, to be hosted on VCM's platform later in 2026. The launch will bring Saudi-originated carbon credits to market, generated from projects within the Kingdom, with more than 30 projects currently being advanced across nature-based solutions, industrial decarbonization and carbon removal technologies. Other signatories include the Public Investment Fund, Red Sea Global, Maaden, Almarai and Saudi Aramco Base Oil Company, among others. VCM was established by the Public Investment Fund and Saudi Tadawul Group in October 2022 to develop a credible voluntary carbon market at scale.
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