Riyadh, Saudi Arabia: Saudi Tadawul Group (STG) and the Regional Voluntary Carbon Market Company (VCM) announced CMF Select Red Sea 2026, the first sustainability-focused edition of the Capital Markets Forum (CMF) Select. The announcement was made during a special ‘Ring the Bell’ ceremony in Riyadh, bringing together senior leaders from across the capital markets, sustainability and corporate sectors.

CMF Select Red Sea 2026, Powered by STG and Co-organized with VCM, will bring together investors, corporates, policymakers, market participants and sustainability leaders to explore the growing intersection of capital markets, climate finance and carbon markets.

As part of CMF Select Red Sea, VCM, will host the inaugural Saudi Carbon Credits Launch on its platform later this year. The launch will mark a major milestone in the development of the Kingdom’s voluntary carbon market by bringing Saudi-originated carbon credits to the market, generated from projects within the Kingdom.

This progress reflects VCM’s role in building market infrastructure and enabling corporate participation. Saudi market is seeing significant progress being made to develop a strong pipeline of on-the-ground carbon projects, with more than 30 projects being advanced across the Kingdom to deliver Saudi-originated carbon credits in the coming years. This reflects on the growing involvement from global project developers and local entities delivering carbon credits across nature-based solutions, industrial decarbonization and many other innovative carbon removal technologies.

The ceremony also saw more than 30 companies sign Memorandums of Understanding (MoU) with VCM, expressing their intention to participate in the inaugural Saudi Carbon Credits Launch.

The companies included: PIF, Saudi Tadawul Group (STG), Red Sea Global, Ministry of Economy & Planning (MEP), Maaden, Al Qaryan Group, Saudi Top Plastic Factory (STP), Al Kifah Holding Company, Bank Albilad, Gulf International Bank (GIB), Fakeeh Care, BYD Al-Futtaim, Abdul Latif Jameel Motors,  Saudi German Health, Saudi Water Partnership Company (SHARAKAT), SAWACO Water Group, Al Kathiri Holding, Abdullah AlOthaim Investment Company, Almarai Company, Alpha Star, Halliburton, ADES Holding, ArcelorMittal, Nesma & Partners, Saudia Group, Riyadh Cement, Yamama Cement, Yanbu Cement, Saudi Agricultural and Livestock Company (SALIC) and Saudi Aramco Base Oil Company (Luberef).

Eng. Khalid Al Hussan, Chief Executive Officer of Saudi Tadawul Group and Board Member at VCM, said: “CMF was established to convene the institutions and leaders shaping the future of capital markets. As sustainability becomes increasingly relevant to investors, businesses and economies around the world, expanding the CMF Select into this space is a natural evolution of the platform. Through CMF Select Red Sea 2026, we are creating a forum for the conversations, partnerships and opportunities that will shape the future of sustainable finance, while reinforcing Saudi Arabia’s position as a growing hub for investment and market development.”

Fadi Saadeh, Chief Executive Officer of VCM, said:
“We are proud to partner with Saudi Tadawul Group (STG), to launch CMF Select Red Sea 2026 as the first sustainability-focused edition of the CMF Select, bringing climate finance and carbon markets more firmly into the Kingdom’s capital markets dialogue.

The inaugural Saudi Carbon Credits launch on VCM’s platform will be a landmark moment for the Saudi market, reflecting the progress made in developing Saudi-originated carbon credits and building a credible carbon market ecosystem. We are grateful to all the companies signing MoUs for their participation in this important national milestone.”

About Saudi Tadawul Group

Founded in 2021 and headquartered in Riyadh, Saudi Tadawul Group is a holding company with a portfolio of four integrated subsidiaries: the Saudi Exchange Company (Saudi Exchange), one of the largest 10 stock exchanges in the world by market capitalization, the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa), and Tadawul Advanced Solutions Company (WAMID), an innovative applied technology services business. Saudi Tadawul Group was established as part of a continuous development program focused on enhancing the capital market and its infrastructure, attracting foreign investments, and diversifying the Saudi economy. The Group reinforces Saudi Arabia’s position as an attractive global investment destination and the gateway to the MENA region.

Saudi Tadawul Group supports the development of an advanced capital market in Saudi Arabia; one of the pillars of the Financial Sector Development Program (FSDP), Saudi Vision 2030 realization program.

About VCM

VCM was established by the Public Investment Fund (PIF) and Saudi Tadawul Group Holding Company (Saudi Tadawul Group) in October 2022. PIF holds an 80% stake and Saudi Tadawul Group holds a 20% stake in the company. VCM aims to create a credible voluntary carbon market at speed and at scale with global impact. The market prioritizes high-quality carbon credits and positive climate action. The company is creating an ecosystem that includes an exchange for the trading of voluntary carbon credits and advisory services that support organizations in their decarbonization efforts. 

In October 2022, VCM hosted its first auction at the sixth Future Investment Initiative (FII) in Riyadh. In June 2023, VCM successfully auctioned 2.2 million tons of voluntary carbon credits in the largest-ever carbon credit sale in Nairobi, Kenya. In October 2023, VCM and PIF hosted the world’s first Global South Carbon Market Conference at the seventh FII edition in Riyadh. In November 2024, VCM launched the region’s largest carbon credits exchange on the side lines of COP29, while auctioning over 2.5 million tons of voluntary carbon credits in its third auction.

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Media Contacts
Saudi Tadawul Group:
Arwa Aldraiweesh

Fawaz Alfaris
cmf.media@tadawul.com.sa

VCM:
Rohan Bin Shams
media@vcm.sa