Riyadh, June 29, 2026 – Nesma & Partners has signed a Memorandum of Understanding (MoU) with the Regional Voluntary Carbon Market Company (RVCMC), reflecting a shared interest in advancing awareness of market-based climate solutions in Saudi Arabia, in line with Saudi Vision 2030 and the Kingdom’s broader sustainability ambitions. With this agreement, Nesma & Partners becomes the first contracting company in Saudi Arabia to sign a Memorandum of Understanding with RVCMC, reinforcing its commitment to supporting the Kingdom’s evolving sustainability agenda.

RVCMC is a regional organization dedicated to developing and promoting voluntary carbon markets in the Kingdom of Saudi Arabia. The MoU establishes a foundation for dialogue between the two organizations, supporting greater private-sector engagement in sustainability conversations that contribute to a more sustainable and diversified economy.

Through this collaboration, Nesma & Partners and RVCMC will promote awareness of developments in the voluntary carbon market and foster the exchange of knowledge and perspectives on market-based approaches to sustainability within the Kingdom.

As part of the MoU, Nesma & Partners recognizes the Saudi Carbon Credit Launch Event, scheduled for November 2026 at Red Sea Global, as an important industry event. The event will mark the commencement of trading in locally generated Saudi carbon credits, bringing together leading organizations, project developers, investors, and industry stakeholders from Saudi Arabia and around the world to discuss developments in carbon markets and climate-focused innovation.

Commenting on the agreement, Samer Abdul Samad, President & CEO of Nesma & Partners, said:

“As Saudi Arabia advances its sustainability ambitions, the private sector has an important role to play in enabling any initiative that create long-term economic and environmental value. We have welcomed VCM approach in assessing the strategic role of carbon credits within our overall decarbonization pathway. Our latest analysis, based on the 2025 corporate GHG inventory, indicates total emissions of 379,771 tCO₂e. After accounting for existing reduction initiatives delivering approximately 4,643 tCO₂e of annual reductions, the residual emissions stand at 375,128 tCO₂e. To achieve our targeted 30% emissions reduction by 2030, approximately 113,931 tCO₂e must be addressed through a combination of direct decarbonization measures and a phased carbon credit strategy from VCM. Our MoU with RVCMC is a positive step in that direction — one that opens the door to meaningful connections and a deeper understanding of how voluntary carbon markets are shaping the Kingdom’s sustainability landscape.”

As Saudi Arabia’s voluntary carbon market continues to take shape, Nesma & Partners looks forward to engaging with the organizations and stakeholders driving this important conversation in support of the Kingdom’s sustainability journey.

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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