Where market progress becomes climate impact

Through landmark auctions, trusted exchange infrastructure, and specialist advisory services, VCM connects capital with high-integrity climate solutions, accelerating decarbonisation and advancing credible climate action across the Global South.

our impact

Impact in Numbers

From landmark auctions to continuous trading, our growing track record reflects the scale, reach, and momentum of VCM's high-integrity market ecosystem.

>15M

Carbon credits delivered

35+

Companies engaged across the ecosystem

3

Major auctions organised

Over $100M

In value

our timeline

Milestones that moved the market forward.

From pioneering auctions to launching the region's largest carbon credits exchange, every milestone has strengthened VCM's role in advancing high-integrity climate action.

2021
- The announcement
  The vision takes shape.
  On 3 September 2021, PIF and Saudi Tadawul Group announced plans to establish a voluntary carbon credit exchange connecting institutions with high-quality credits and credible climate action.
2022
- The beginning of VCM
  Established in October 2022 by PIF and Saudi Tadawul Group, VCM set out to build a credible voluntary carbon market at speed and scale, with global impact.
- Our first auction
  ~1.4Mcarbon credits sold
  A landmark first auction.
  At the sixth Future Investment Initiative in Riyadh, VCM hosted its inaugural auction, selling approximately 1.4 million carbon credits and convening leaders from 15 companies.
- Finance innovation
  Pioneering new climate finance solutions.
  Alongside COP27, VCM and the International Islamic Trade Finance Corporation announced a landmark Fatwa enabling carbon credits to be used in Islamic finance structures.
2023
- Nairobi auction
  Over 2.2Mtonnes traded
  A record-breaking moment for carbon markets.
  On 14 June 2023, VCM hosted a record-breaking auction in Nairobi, trading over 2.2 million tonnes of high-quality, CORSIA-eligible and Verra-registered carbon credits. The auction convened 16 Saudi and international companies, with Aramco, SEC, and ENOWA among the largest buyers.
- Global South conference
  Putting the Global South at the centre.
  On 26 October, VCM and PIF convened the world's first Global South Carbon Market Conference during the seventh Future Investment Initiative in Riyadh, bringing government and industry leaders together to accelerate coordinated climate action.
- COP28
  Advancing international collaboration.
  At COP28, VCM strengthened international dialogue around high-integrity voluntary carbon markets and the frameworks needed to enable greater cross-border market connectivity.
2024
- Exchange launch
  A new era for carbon markets.
  Alongside COP29, VCM launched the region’s largest carbon credits exchange, advancing transparent price discovery, liquidity, efficient execution, settlement, and delivery.
- Third auction
  Over 2.5Mcarbon credits sold
  Scaling high-integrity market action. VCM's third auction brought together 23 Saudi and international organisations and sold more than 2.5 million high-integrity carbon credits from projects across multiple regions.
2025
- Growing momentum
  6.9Mcredits delivered in 2025
  Proven progress at scale.
  VCM delivered 6.9 million carbon credits in 2025, bringing its total track record to approximately 13 million credits and reinforcing its position as the world's third-largest carbon exchange by traded volume.