Tunis — The Regional Voluntary Carbon Market Company (VCM), a carbon credit company established by PIF and Saudi Tadawul Group, in collaboration with the Arab Federation of Capital Markets (AFCM) is hosting a trader-led demonstration auction during the AFCM Annual Conference in Tunisia, taking place on May 13–14, 2025.
The demonstration will show how an interconnected order-book across local and global participants enhances liquidity, price discovery, and market depth, outcomes that no single exchange or nation can achieve alone.
Representatives from countries including, Kingdom of Saudi Arabia, Singapore, United Arab Emirates (UAE) and Switzerland will participate in the auction demonstration, offering a valuable opportunity for dialogue and action on developing effective frameworks to mobilize capital for climate initiatives.
“This demonstration provides a practical look at how capital markets might engage with carbon trading as part of broader sustainability strategies,” said Rami El-Dokany, Secretary General of the Arab Federation of Capital Markets. “Our work with VCM is rooted in knowledge-sharing and encouraging collaboration that can contribute to achieving long-term climate finance ambitions.”
Riham El Gizy, CEO of VCM, commented: “This demonstration reflects the progress we have made in developing the infrastructure for carbon trading. Our investment in the platform showcased today allows us to create an interconnected order-book mechanism that can support better liquidity and price discovery in the region.
It also allows local exchanges and market participants to use these tools to help channel more capital toward climate goals. We are grateful to AFCM for supporting this collaboration.” Since its inception in 2022, VCM has facilitated the trading of over 7 million carbon credits across multiple auctions held in Riyadh, Nairobi and Baku, including more than 1.5 million credits in 2025 alone. To date, the exchange platform has enabled over 100 million Saudi Riyals in carbon trading value with 30+ market participants on the digital exchange platform, reflecting growing traction and interest from both regional and international stakeholders.
CONTACT DETAILS
For commercial enquiries about participating in VCM’s voluntary carbon markets, please contact: media@vcm.sa For media enquiries about VCM, please contact: media@vcm.sa
ABOUT VCM
VCM was established by Public Investment Fund (PIF) and Saudi Tadawul Group Holding Company (Saudi Tadawul Group) in October 2022. PIF holds an 80% stake and Tadawul Group holds a 20% stake in the company. VCM is aiming 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, an exchange for the trading of voluntary carbon credits and advisory services that help organizations understand how to decarbonize.
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 FII7 in Riyadh. In November 2024, VCM launched the biggest carbon credits exchange in the region on the sidelines of COP29, while auctioning over 2.5 million tons of voluntary carbon credits in its 3rd auction.
– Follow the company on LinkedIn https://www.linkedin.com/company/voluntarycarbonmarket/ – Follow VCM on X: https://twitter.com/vcm_en
– View the website: vcm.sa
ABOUT AFCM
The Arab Federation of Capital Markets (AFCM) is the Arab industry group for 18 exchanges and 7 Clearing houses (CSDs/CCPs), and multiple affiliate members (financial institutions, brokerage firms and local industry associations) from all around the Arab region. The federation is set to promote a harmonized framework and a transparent environment for the Arab capital markets, by exchanging viewpoints and providing opportunities for cooperation among its members, by knowledge transfer through webinars, workshops, conferences, research papers, and through fruitful cooperation with regional and international organisations.
Learn more: https://arab-exchanges.org/
