Core Value

Integrity is at our core

Our carbon credits meet the highest international standards, ensuring they represent real, measurable reductions in carbon emissions.

Integrity is at our core

Market Focus

Led from the Global South

Communities in the Global South are on the frontline of climate change, which is why we are committed to investing in projects in the Middle East, Africa, and beyond, contributing to UN Sustainable Development Goals.

Led from the Global South

Unified Approach

Everyone must play their part

Just as nations have set ambitious climate targets, so must every business. In particular for hard-to-abate industries, the voluntary carbon market is a powerful tool for decarbonization.

Everyone must play their part

Board of Directors

Rania Nashar

Rania Nashar

Chairperson

Omar Al-Madhi

Omar Al-Madhi

Vice Chairman

Fahad AlSaif

Fahad AlSaif

Board Member

Sarah Al-Suhaimi

Sarah Al-Suhaimi

Board Member

Ibrahim Al-Buainain

Ibrahim Al-Buainain

Board Member

Doris Honold

Doris Honold

Board Member

Sultan Abdulmalik Al-Sheikh

Sultan Abdulmalik Al-Sheikh

Board Member

Rania Nashar

Chairperson

Ms. Rania Nashar joined the Public Investment Fund (PIF) as a Senior Advisor to the Governor in February 2021, where she advises His Excellency Yasir Al-Rumayyan, Governor of PIF, in areas of Business and Governance, drawing on more than 20 years of professional experience in the banking industry. In addition, she is the Head of Compliance & Governance at the Public Investment Fund.

Prior to joining PIF, Ms. Nashar served as the CEO of Samba Financial Group (SFG), making her the first Saudi woman to lead a major banking group in the Kingdom of Saudi Arabia. She first joined SFG in 1997 at the start of her banking career, where she served in various positions across different divisions of the Group and played a pivotal role in bringing vital changes and developments to SFG’s business sectors.

Ms. Nashar also holds various other leadership and advisory positions. During her time at SFG, she served as Vice Chair of the SambaCapital Board and as a Board member of Samba Bank Limited in Pakistan, and Samba Global Markets Limited. She also served as a board member at Institute of International Finance “IIF” in USA and the Saudi Space Commission.

In March 2019, the Board of the Capital Market Authority of Saudi Arabia (CMA) appointed Ms. Nashar as Vice Chair of the CMA Advisory Committee. Ms. Nashar also serves as Board member of STC, the Saudi Tadawul Group, the SME Bank, the National Center for Performance Measurement, Almabani General Contractors, Saudi Water Solutions Company, Muwakaba Investments Company, and Saudi Polo Federation. Also, she chairs the Audit Committee at FII and the Chairperson of The Regional Voluntary Carbon Market Company.

Some of Ms. Nashar’s other major achievements throughout her career include becoming the first Saudi women to lead the audit and risk review functions for all business and operations areas at SFG, including investment business, corporate and individual banking, and risk management. She is also the first woman in the GCC financial sector to lead a compliance group and first Saudi woman to be named a certified anti-money laundering specialist by the Association of Certified Anti-Money Laundering Specialists (ACAMS) in the USA. During KSA G20 Presidency Rania chaired the B20 Women in Business Action Council and G20 EMPOWER Alliance. Also, she served as a Co-Chair in Action Council for B20 Women in Business afterwards.

Ms. Nashar holds a Bachelor’s degree with Honours in computer science and technology from Kind Saud University. She has been recognized by Forbes on multiple occasions for her professional achievements, being named among the Top 100 Powerful Women in the World in 2018, 2019 and 2020.

Rania Nashar

Omar Al-Madhi

Vice Chairman

Mr. Al-Madhi is the Co-head of Direct Investments within the MENA Investments Division at the Public Investment Fund (PIF), where he is responsible for overseeing investments in key strategic sectors in Saudi Arabia. Recognized as a leading corporate executive, he has over two decades of experience driving strategic growth within businesses in the Kingdom.

He formerly held the position of Senior Managing Director & Member of the Board at Abdul Latif Jameel Investments, Chief Executive Officer of Volkswagen Group Saudi Arabia, a member of SAGIA's executive team. He held a multitude of positions within Saudi Aramco including participating in developing the company’s long-term strategy in the technology area. He was also an Associate at McKinsey & Company. He obtained his Bachelor of Science degree in chemical engineering from the University of Pennsylvania in 2002. He received an MBA degree from the MIT Sloan School of Management in 2007. 

Mr. Al-Madhi was named a Young Global Leader by the World Economic Forum, joining the class of 2017. He was appointed by Royal Decree to the Board of the Saudi Job Creation & Employment Commission and was later selected as a member of the Board’s Executive Committee. He is an Eisenhower Fellow having been selected as the Fellow from Saudi Arabia for Eisenhower Fellowships’ 2011 Multi Nation Program. 

Mr. Al-Madhi is a Board and Committee member of several publicly listed and privately held organizations:

- Chairman of the Board of Directors & Chairman of the NRC, Jada Fund of Funds

- Chairman of the Board of Directors, Tasaru Mobility Investments Company

- Chairman of the Board of Directors, Saudi Iron and Steel Company (HADEED)

- Chairman of the Board of Directors, Alsalam Aerospace Industries Company.

- Vice Chairman & Chairman of the Executive Committee, Saudi Arabian Military Industries Company (SAMI)

- Board of Directors, Executive Committee & NRC Member, ElSeif Engineering Contracting Company

- Board of Directors, Executive Committee & NRC Member, ACWA Power

- Board of Directors and Investment Committee Member, NEOM Investment Fund

- Board of Directors, Strategic Planning Group & NRC Member, Riyad Bank

- Board of Directors Member, 1957 Ventures

- Chairman of the Investment Committee, Industrial Company for Electronics (ALAT)

- Chairman of the Technical Investment Committee, CEER motors

- Chairman of the Board, Iliad Partners

- Chairman of the Board, Awad Capital

Omar Al-Madhi

Fahad AlSaif

Board Member

Mr. AlSaif is a Senior Managing Director, Head of Investment Strategy and Economic Insights Division, Head of Global Capital Finance Division at PIF. 

Mr. AlSaif worked on developing PIF’s green financing framework and obtaining an investment grade inaugural credit rating by international rating agencies, and subsequently launching PIF's debut international bond program; issuing the first green bond with a 100-year tranche, the first bond of its kind globally by a Sovereign Wealth Fund, simultaneously. Among other efforts that support PIF and its portfolio companies, Mr. AlSaif worked on diversifying the sources of capital to fund transformational projects across different sectors.

Mr. AlSaif holds more than 26 years of experience in leading diverse functions including treasury, investment, debt capital management, and corporate finance. He started his career in the private sector and served in senior positions in both Saudi British Bank (SABB) and HSBC Saudi Arabia for over a decade. Following his private-sector stint, he then took on a public-sector role within Saudi Arabia’s Ministry of Finance, where he served as a senior advisor to the Minister, His Excellency Minister of Finance, and established and headed the ministry’s debt management function, later renamed as National Debt Management Centre (NDMC), where he served as the Chief Executive Officer and Board member.

Mr. AlSaif is an Information Systems graduate from King Fahad University of Petroleum and Minerals.

 

Fahad AlSaif

Sarah Al-Suhaimi

Board Member

    

Sarah AlSuhaimi is the Chairperson of the Saudi Tadawul Holding Group Board of Directors, considered to be the largest exchange in the Middle East. In her capacity, she spearheads Tadawul’s efforts to integrate the Saudi capital market globally.

She is also the Chairperson of Lazard Ltd. in Saudi Arabia, the Middle East and North Africa, and a Board Member of the General Authority of Statistics, Saudi Telecom Company, Saudi Airlines, and the Cultural Development Fund, Child Care Association. AlSuhaimi is also a trustee of the International Financial Reporting Standards Foundation and a Wi-Fi Leadership Champion. 

AlSuhaimi served as the CEO of SNB Capital from 2014 to 2021 and was a member of their Board of Directors. During her tenure, AUMs grew by over four times, NCBC's brokerage market share increased by more than 10%, and the bank executed multiple large investment banking mandates earning league table status in DCM and M&A. Mrs. AlSuhaimi served a two-year term as Vice-Chairperson of the Advisory Committee of the Capital Market Authority (CMA) Board of Directors from 2013 to 2015. Prior to that, AlSuhaimi led the asset and wealth management division at Jadwa Investment Company as the Chief Investment Officer from 2007 to 2014. She was also a member of the firm’s Management Committee.

Sarah holds a Bachelor’s degree in Accounting with Honors from King Saud University and has completed the General Management program in Harvard Business School.

Sarah Al-Suhaimi

Ibrahim Al-Buainain

Board Member

Ibrahim Al-Buainain is Saudi Aramco’s Executive Vice President of Global Manufacturing.

He was the Senior Vice President of Sales, Trading & Supply Planning, overseeing the Company’s global trading and sales of crude oil and LPG, its hydrocarbon supply planning network which includes the company’s domestic sales of refined products and feedstock. 
 
Mr. Al Buainain joined Saudi Aramco in 1989 at Ras Tanura Refinery and in 1995, he was appointed as lead project engineer for the Shaybah program. From 1998, he worked with the Aramco joint venture company S-Oil in South Korea as its General Manager for Supply and Trading.
 
In 2004, he became a portfolio manager of all Aramco International JVs, and in 2007, he was named director of the Asia JV Department. In 2009, he was assigned as a director for the Rabigh Phase-II development project.
 
In 2011, he was appointed as director of Structuring and Venturing and in parallel to this, he was appointed as CEO of Saudi Aramco Energy Ventures Company (SAEV).
 
In 2014, he became President & CEO of Aramco Asia, working to support the Company’s strategic objectives in the Asia region.  In 2015, he was appointed as Global Head of Transactional Development in New Business Development.
 
In 2016, he was appointed as the President and CEO of Aramco Trading, the integrated global trading arm of Saudi Aramco.
 
Mr. Al-Buainain serves as Chairman of the Board of PetroRabigh, Luberef, Aramco Services Company & Aramco Overseas Company. He also serves as a board member in several of Saudi Aramco’s subsidiaries and JVs. Mr. Al-Buainain holds a bachelor’s degree in mechanical engineering, an MBA in global management, and a master’s degree in Innovation and Global Leadership from Massachusetts Institute of Technology (MIT).            

Ibrahim Al-Buainain

Doris Honold

Board Member

Doris Honold is an accomplished strategic leader with a distinguished career over three decades in finance, risk, and change management. She has held senior executive positions with global banks, such as Chief Risk Officer Market Risk and Group Chief Operating Officer (COO) at major institutions like Standard Chartered Bank and has now dedicated herself to work with organisations that mobilize financial resources to combat climate change.

Doris serves as the Chair of the Climate Bonds Initiative and a Board Member of The Integrity Council for the Voluntary Carbon Market. She is passionate about climate change, energy transition and sustainable development. She is well-respected in her field and her extensive experience and expertise make her a key player in advancing climate finance initiatives globally.

Doris is a Senior Fellow of Harvard Universities Advanced Leadership Program.

Doris Honold

Sultan Abdulmalik Al-Sheikh

Board Member

Mr. Sultan Abdulmalek Al-Sheikh is a Senior Director - Head of Financial Institutions Sector at the MENA Investments Division at the Public Investment Fund of Saudi Arabia (PIF). Mr. Al-Sheikh joined PIF in 2015, and was part of the founding team who worked on developing PIF new mandate and strategy.

Currently, he is the Chairman of the board for Tawrid Company for Financing Solutions (Tawrid), and board member of Gulf International Bank B.S.C - Bahrain, Gulf International Bank - Saudi Arabia, Tahakom Investment Company, Regional Voluntary Carbon Market Company (RVCMC). He also served previously as a board member at The Helicopter Company (ended Jan. 2021), Saudi Fisheries Company (ended Oct 2020) and AlMarai Company (ended Aug 2022), In addition to Chairman of the board of Tabadul Company ( ended Jan. 2024) & member of the ExCom of STC ( ended April 2021) 

Prior to joining PIF, Mr. Al-Sheikh held key positions in reputable financial institutions. He served as an Associate and Vice President of Investment Banking at Saudi Fransi Capital. Mr. Al-Sheikh also worked as an Officer in the Securities Listing Department at the Saudi Capital Market Authority (CMA) and as a Relationship Manager at the National Commercial Bank (NCB) of Saudi Arabia. Mr. Al-Sheikh has extensive experience in finance, with a focus on advising a range of different ECM transactions including IPOs, rights issues and M&A. 

In addition to possessing 20 years of professional experience in financial institutions, Mr. Al-Sheikh holds a Master of Science in Finance from The George Washington University, USA and a Bachelor of Science in Finance from King Fahad University of Petroleum & Minerals, Saudi Arabia. 

Sultan Abdulmalik Al-Sheikh

Leadership

“We can potentially offset 100-200 million tonnes of CO2 each year in the MENA region by 2030 – the equivalent of reforesting an area the size of Germany.”

Riham ElGizy,
Michael Blackwell
Abdulrahman AlFayyadh
Julie Brown
Fadi Saadeh
Anas AlGhannam
Areej AlMeshari

Riham ElGizy,

Chief Executive Officer, VCM

Ms. Riham ElGizy is the CEO of VCM. In her role at the helm of the VCM, she launched the first voluntary carbon market in the MENA region and led the single largest voluntary carbon market auction to ever take place. VCM then beat its own record, at a second auction in Nairobi, Kenya, in June 2023, to set a new benchmark. 

Ms. ElGizy leads efforts to convene people and organizations from all sides of the voluntary carbon market value chain, to ensure that as this market matures it continues to play a credible and high-integrity role in tackling climate change. In doing so, she has spoken at multiple COPs, shared perspectives at the inaugural Africa Climate Summit, and hosted the first-ever Global South Carbon Markets Conference, on the sidelines of the 7th edition of the Future Investment Initiative.

Ms. ElGizy strongly believes in the power of a united voice from the Global South on the development of voluntary carbon markets. Through her leadership of VCM, she is showing how the Middle East and Africa can work together to drive innovative climate action in emerging economies. This is all part of VCM's aim to be one of the largest voluntary carbon markets in the world by 2030 – one that facilitates the offset of hundreds of tonnes of carbon per year and contributes to global net zero ambitions, while channelling significant funding to projects that drive climate action and improve livelihoods across the Global South. 

Ms. ElGizy brings a wealth of expertise to her current role, with over 20 years of international experience dedicated to impact related-investments through her extensive work as a leader in mergers and acquisitions, as well as strategy and business development experience. She was formerly head of Saudi Aramco’s investment valuations and structuring, the function responsible for advising and formulating investment decisions for corporate and executive management and government institutions. Prior to joining Saudi Aramco, she spent 16 years with BP in North America and North Africa. 

Ms. ElGizy has a track record in originating and executing energy, clean technology, and renewable energy transactions across the globe. She has advised strategy and investment boards and led negotiations with governments and privately held institutions. 

Ms. ElGizy is a Sloan fellow MBA (MIT Sloan School of Management) and during her time at MIT, she worked on projects promoting sustainable economic growth in emerging markets, through the deployment of innovative technology solutions and climate change simulations. 

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Michael Blackwell

Chief Operating Officer, VCM

Michael Blackwell serves as the Chief Operating Officer at VCM, where he is responsible for overseeing day-to-day operations and leading the company’s efforts to scale sustainable solutions in the voluntary carbon market. In his role, Michael ensures operational efficiency and provides financial oversight to maintain the company’s fiscal health, all while aligning with long-term growth strategies. He also plays a critical role in corporate governance, ensuring compliance and adherence to best practices.

With over two decades of experience in risk management, policy, and strategy, Michael has held key leadership roles across Asia, Europe, and global markets. Before joining VCM, he was the Chief Operating Officer and Head of Credit for Asia and Europe at ED&F MAN Capital Markets , where he managed operations and risk for over a decade. Prior to that, he led credit risk management for MF Global in both APAC and Europe, further strengthening his expertise in global financial markets. 

Michael is passionate about climate action and sustainability. His leadership and commitment to reducing global carbon footprints are integral to advancing VCM’s mission and supporting climate finance initiatives worldwide.

Abdulrahman AlFayyadh

Chief of Staff, VCM

Abdulrahman AlFayyadh serves as the Chief of Staff at the Voluntary Carbon Market Company (VCM). In his current role, Abdulrahman supports the CEO and executive leadership, driving strategic initiatives and operational execution as VCM works toward advancing climate action and expanding carbon market participation across the Middle East and Africa. His efforts are focused on establishing VCM as a leader in the voluntary carbon market.
 
At PIF, Abdulrahman worked in the Investment and Economic Development Portfolio at PIF PMO, where he was responsible for the establishment of several international and local investment bodies. Abdulrahman played a key role in establishing the Voluntary Carbon Market. As part of this, Abdulrahman supported the execution of the largest voluntary carbon credit auction in the history of the market by sourcing and selling more than 2.2 million tonnes of carbon credits, contributing to addressing the global climate challenge.
 
Before joining VCM, Abdulrahman worked at SABIC where he led several projects. Abdulrahman holds a bachelor’s degree in Mechanical Engineering from King Saud University, along with certifications from several prestigious international institutions

Julie Brown

Advisory Services Director, VCM

Julie Brown serves as the Advisory Services Director at VCM, where she plays a crucial role in guiding and overseeing the advisory consultations available to our partners. Her leadership ensures that each consultation is tailored to meet specific needs, fostering strong relationships and delivering valuable insights to enhance their success. Julie provides broad advisory services, spanning from project development to decarbonization strategies, supporting clients in their journey toward sustainable growth and carbon reduction.

With over ten years of experience in sustainable development and advisory services, Julie has a proven track record of leading large-scale programs that deliver measurable social and environmental impacts. Her background includes extensive work in East Africa and Central America, where she has managed initiatives providing clean energy, safe drinking water, and sustainable resources to underserved populations.

Julie’s dedication to climate action and sustainable growth guides her work, as she continuously seeks innovative solutions to drive community-centered development. Her strategic vision and commitment to environmental equity are integral to VCM’s mission of advancing global carbon reduction efforts.

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Fadi Saadeh

Head of Technology, VCM

Fadi Saadeh is the Head of Technology at VCM, where he leads the development of digital solutions to support the company’s mission in the voluntary carbon market. With over a decade of experience as a software engineer, Fadi has a strong background in building and managing tech initiatives.

Before joining VCM, he led engineering teams at AirCarbon Exchange (ACX) and BitOasis, focusing on product development, technical architecture, and cybersecurity. 

His expertise spans cloud computing, data architecture, and solution design, with a proven track record in startups and established organizations alike. Known for his practical approach to leadership and problem-solving, Fadi drives innovation and supports VCM’s growth through strategic and impactful technology. 

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Anas AlGhannam

Finance and Accounting Director, VCM

​​Anas AlGhannam is a seasoned finance and accounting director with nearly a decade of experience in building financial operations within startup environments. Currently serving as the Finance Director at the Voluntary Carbon Market (VCM), Anas plays a critical role in shaping the financial strategy and supporting sustainable growth within the carbon market industry. His career includes foundational work in two other prominent startups, Daily Food Co. (Maestro Pizza) and the Ministry of National Guard Development Program, where he built finance departments from the ground up and implemented vital processes to drive operational efficiency.

At VCM, Anas combines his expertise in financial analysis, budgeting, and forecasting to support the company’s goals in an evolving market. Previously, as Director of Support Services at the Ministry’s Development Program, he led operational planning and budget optimization efforts, ensuring alignment with strategic objectives. His achievements at Daily Food Co. included converting manual accounting systems to electronic platforms and establishing comprehensive controls that bolstered operational accuracy.

Anas holds a Master’s in Finance from King Saud University and is a Certified Public Accountant (CPA). With additional certifications in leadership and negotiation from institutions like Harvard Business School, Anas’s blend of technical acumen and collaborative leadership makes him an invaluable asset to any organization in a growth phase.

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Areej AlMeshari

Human Resources Director, VCM

Areej AlMeshari is the Human Resources Director at VCM, where she leads strategic HR initiatives that cultivate a high-performance culture aligned with VCM’s mission to advance the voluntary carbon market. Areej oversees talent management, organizational development, and employee engagement strategies, creating a supportive work environment that attracts and retains top talent across the organization.

With over 14 years in HR leadership, Areej has led large-scale HR transformations, including talent acquisition, performance management, and compensation across diverse sectors. Prior to VCM, she held pivotal roles at the Ministry of Tourism’s Air Connectivity Program, Ministry of Sports and KSA’s leading Marketing Agency Extend the Ad Network, where her HR frameworks earned national recognition by winning the labor award provided by the Ministry of Human Resources for best working environment and Saudization best practices across all Private Sector companies within KSA.

Driven by a dedication to human capital development and workplace excellence, Areej is key to strengthening VCM’s organizational effectiveness and advancing its ambitious sustainability goals.

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  • From commitment to action
  • 2021
  • 2022
  • 2023
  • 2024
From commitment to action

The announcement

PIF and Saudi Tadawul Group announced intent to establish a voluntary exchange platform for carbon credits

2021

PIF and Saudi Tadawul Group announced intent to establish a voluntary exchange platform for carbon credits

On September 3, 2021, PIF and the Saudi Tadawul Group announced their plan to establish a voluntary exchange platform for carbon credits. This initiative aims to create a primary destination for companies and institutions focused on reducing emissions. The platform will facilitate the trading of verified, approved, and high-quality carbon-equivalent credit certificates to support these efforts.

Our beginning

PIF and Saudi Tadawul Group established VCM

2022

PIF and Saudi Tadawul Group established VCM

We were launched jointly by PIF and Saudi Tadawul Group in October 2022 as part of the Kingdom's efforts to reduce the impact of climate change and encourage institutions to reduce their carbon emissions.

Our first auction

The world's largest carbon credit auction

The world's largest carbon credit auction			The world's largest carbon credit auction

On October 25, 2022, we held the largest voluntary carbon market auction to date, selling more than 1.4 million tonnes of carbon credits. The CEOs and Chairs of 15 leading companies participated in our first auction, held as part of the 6th Edition of the Future Investment Initiative in Riyadh.

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Innovative solutions

First-ever Fatwa issued for carbon credits as an enabling commodity for Islamic Finance

First-ever Fatwa issued for carbon credits as an enabling commodity for Islamic Finance

The Fatwa, a joint effort by VCM and the International Islamic Trade Finance Corporation (ITFC), was announced on the sidelines of COP27.

Our second auction

We beat our own record

2023

We beat our own record We beat our own record

On June 14, 2023, we once again held the largest-ever carbon credit auction, this time in Nairobi, successfully auctioning over 2.2 million tonnes of voluntary carbon credits. The auction offered high-quality CORSIA-eligible and Verra-registered carbon credits to 16 Saudi and international companies participating in the auction, with Aramco, Saudi Electricity Company (SEC), and ENOWA purchasing the largest number of carbon credits.

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Setting the agenda

We convened the inaugural Global South Carbon Markets Conference: The Riyadh Edition

We convened the inaugural Global South Carbon Markets Conference: The Riyadh Edition We convened the inaugural Global South Carbon Markets Conference: The Riyadh Edition

On October 26, we convened the Global South Carbon Markets Conference: The Riyadh Edition as part of the 7th edition of the Future Investment Initiative. Government and industry leaders from across the Global South were united in their call for a coordinated effort to accelerate the development of voluntary carbon markets.

A critical moment for climate action

We participated in efforts to strengthen international cooperation and drive climate action at COP28

We participated in efforts to strengthen international cooperation and drive climate action at COP28

Our CEO Riham ElGizy attended dozens of engagements, speaking about the role of voluntary carbon markets in scaling climate action and the challenges of developing a unified framework to facilitate cross-border carbon credit trading.

What is to come?

2024

We have many milestones we are looking forward to reaching by the end of this year. The biggest is the launch of VCM Platform, which will be held alongside COP29 in Baku.

Together with our partners, our mission is to increase the global supply and demand in the carbon market and encourage more companies and institutions to compensate for their carbon emissions through this high-integrity voluntary market.

A major leap for carbon markets

VCM launches voluntary carbon market exchange platform to channel finance to high-quality climate projects

VCM launches voluntary carbon market exchange platform to channel finance to high-quality climate projects

From institutional-grade infrastructure to auction and block trade functionalities, the Exchange Platform sets a new benchmark for transparency, liquidity, and innovation.

Our 3rd auction

Delivering impact, one auction at a time

Delivering impact, one auction at a time Delivering impact, one auction at a time

Building on our record-breaking legacy, our 3rd auction underscored its commitment to bridging the climate finance gap. With participants from 23 organizations and a focus on high-integrity credits, the auction demonstrated the platform’s capability to fund impactful climate solutions worldwide. Inaugural auctions traded over 2.5 million tonnes of high-quality credits, supporting projects from Asia to Latin America, and fostering financial flows for climate action.

The world's largest carbon credit auction

2022 Auction

On October 25, 2022, VCM hosted its first auction at the 6th Edition of the Future Investment Initiative (FII) in Riyadh. This marked what was then the largest-ever carbon credit sale auction, with 1.4 million tonnes of carbon credits successfully auctioned – enough to compensate for the annual emissions of approximately 250,000 gasoline-powered family cars.

Strict criteria underpins the credit selection

A robust due diligence process ensured that the credits offered were of the highest quality and integrity, these included:

  • CORSIA compliant
  • Registered by the leading standard setter Verra
  • Vintage of 2018+
  • No credits from jurisdictions with unclear VCM legal frameworks
  • With extensive DD’s on the underlying projects and developers themselves (with many being screened out despite meeting the otherwise specified criteria)

The details of the 1.4 MT credit basket can be found below:

A robust due diligence process ensured that the credits offered were of the highest quality and integrity, these included:

VCM first carbon credit auction

On October 25, 2022, VCM held the largest voluntary carbon market auction to date, selling more than 1 million metric tonnes of CO2 credits.

Strict criteria underpin the credit selection

A robust due diligence process ensured that the credits offered were of the highest quality and integrity. These included:

  • CORSIA compliant
  • Registered by the leading standard-setter Verra
  • Vintage of 2018+
  • No credits from jurisdictions with unclear VCM legal frameworks
  • With extensive DD’s on the underlying projects and developers themselves (with many being screened out despite meeting the otherwise specified criteria)

The details of the 1.4 MT credit basket can be found below:

Voluntary Carbon Market

2022 Auction

2022 Auction

Strict criteria underpins the credit selection

A robust due diligence process ensured that the credits offered were of the highest quality and integrity, these included:

VCM second carbon credit auction

On June 14, 2023, VCM held the largest voluntary carbon credit auction to date, selling more than 2.2 million tonnes of credits.

VCM has applied strict filtering criteria to ensure only high-integrity projects are included

All credits in the basket fulfill a range of criteria:

  • CORSIA-eligible
  • Verra-listed
  • Vintage of 2018+

The VCM's individual project due diligence process takes a more nuanced look at project specifics to ensure only high-integrity projects are included.

Detailed split of projects in VCM's second carbon credit auction basket

Voluntary Carbon Market

2023 Auction

2023 Auction

Strict criteria underpins the credit selection

A robust due diligence process ensured that the credits offered were of the highest quality and integrity, these included:

Voluntary Carbon Market

2023 Auction

2023 Auction

Strict criteria underpins the credit selection

A robust due diligence process ensured that the credits offered were of the highest quality and integrity, these included:

Voluntary Carbon Market

2023 Auction

2023 Auction

Strict criteria underpins the credit selection

A robust due diligence process ensured that the credits offered were of the highest quality and integrity, these included:

Voluntary Carbon Market

2023 Auction

2023 Auction

VCM Exchange Launch and 3rd Carbon Credit Auction

On November 11-12, 2024, VCM launched its Exchange Platform during the third voluntary carbon credit auction on the sidelines of COP29 in Baku, Azerbaijan, marking a pivotal milestone in scaling global climate finance.

High-Integrity Standards

VCM continues to uphold strict filtering criteria to ensure the inclusion of only high-integrity projects. All credits in the auction basket adhere to the following:

  • Leading International Registries: Includes Verra, Gold Standard, and Puro registries, covering ~90% of credit issuances
  • ⁠Recent Vintages: 2020+ vintage to align with market best practices for credibility
  • Third-Party Safeguards

Detailed split of projects in VCM's third carbon credits auction basket