Abdul Latif Jameel partners with Voluntary Carbon Market to help drive global net-zero ambitions
1x- Abdul Latif Jameel participated in the carbon credits auction of the Voluntary Carbon Market initiative, the largest of its kind globally
- The auction offered high-quality CORSIA-compliant and Verra-registered carbon credits to support regional businesses in reducing global carbon emissions
- The auction marks a major milestone in Abdul Latif Jameel’s mission to tackle climate change regionally and internationally
Globally diversified operator and investor Abdul Latif Jameel, participated in the carbon credits auction at the regional Voluntary Carbon Market initiative, held on the first day of the 6th Edition of the Future Investment Initiative in Riyadh[1]. At the auction, 15 Saudi and regional entities purchased a combined 1.4 million tons of carbon credits, making this auction the largest of its kind globally.
By participating in this auction, the Jameel family drive their long-term mission to contribute to the global green agenda and build on their work with leading renewable energy solutions developer, Fotowatio Renewable Ventures (FRV), and Abdul Latif Jameel Energy’s dedicated water solutions unit, Almar Water Solutions, in driving sustainable development regionally and internationally.
Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel, said:
“We are honored to be a partner of the Voluntary Carbon Market, which will play a major role in helping the region achieve its net-zero carbon ambitions and aligns with Saudi Arabia’s Vision 2030. Our participation in this decarbonization initiative will help unlock the region’s potential as a key player in securing a cleaner future for all, and we also hope it will encourage more private sector businesses to participate in the future.”
The auction offered high-quality CORSIA-compliant and Verra-registered carbon credits to support businesses operating in a diverse range of industries in the region as they play their part in the global transition to net zero.
The Voluntary Carbon Market initiative is a continuation of the Public Investment Fund’s (PIF) efforts to support Saudi Arabia’s green agenda and follows previous announcements by the Fund, including the completion of its USD 3 billion inaugural green bond.
[1] Abdul Latif Jameel participated in the carbon credits auction through its Jameel Investment Holding Company Limited
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