Engie participated in largest-ever auction of carbon credits held during the FII

Engie participated in largest-ever auction of carbon credits held during the FII

- In total, 1.4 million carbon credits were auctioned off at FII as part of the Middle East North Africa Voluntary Carbon Market in the largest-ever carbon credit sale

- Carbon credits were traded by ENGIE’s Global Energy Management & Sales (GEMS) entity in line with its mission to accelerate the transition towards a carbon-neutral global economy, by providing a range of low carbon and renewables solutions

Riyadh: ENGIE, the global low-carbon energy company, participated in the largest-ever auction of carbon credits held during the future investment initiative FII, which was organized by the Regional Voluntary Carbon Market Company.

ENGIE GEMS entity traded a total of 483,100 carbon credits to Regional Voluntary Carbon Market Company for the auction. This was the largest single contribution to the 1.4 million carbon credits that were sold in the largest-ever auction of its kind.

Riham ElGizy, Director of VCM Initiative, said “Dedicated to supporting the investment and innovation needed to deliver necessary climate action, and participate in Saudi Arabia’s efforts to achieve net zero by 2060, the auction represented the first step towards becoming a leading player in the global voluntary carbon market ecosystem”.

“As a global reference in low-carbon energy and services, with a purpose to provide clients