RVCMC picks Xpansiv to launch carbon credit exchange in Saudi Arabia

RVCMC picks Xpansiv to launch carbon credit exchange in Saudi Arabia

The Regional Voluntary Carbon Market Company (RVCMC), owned by the Public Investment Fund and Tadawul Group, has selected Xpansiv, the leading market infrastructure provider for the global energy transition, to provide tech infrastructure for RVCMC’s carbon credit exchange, which is set to launch later this year in Saudi Arabia. The move marks a significant step […]The Regional Voluntary Carbon Market Company (RVCMC), owned by the Public Investment Fund and Tadawul Group, has selected Xpansiv, the leading market infrastructure provider for the global energy transition, to provide tech infrastructure for RVCMC’s carbon credit exchange, which is set to launch later this year in Saudi Arabia.

The move marks a significant step towards achieving RVCMC’s ambition to scale up global supply and demand to deliver much-needed climate finance to the Global South. Building the exchange follows the success of RVCMC’s voluntary carbon credit auctions held in October 2022 and June 2023, two events that “set the record for the world’s largest-ever voluntary carbon credit auction.”

By selecting Xpansiv, RVCMC will provide buyers and sellers with robust infrastructure, enabling fast and secure transactions. The company already operates CBL, the world’s largest spot carbon credit marketplace, and the new exchange will be built on Xpansiv’s open-access