Regional Voluntary Carbon Market Company

What Regional Voluntary Carbon Market Company does

The Regional Voluntary Carbon Market Company (VCM), headquartered in Riyadh, Saudi Arabia, operates Saudi Arabia's first voluntary carbon credit exchange platform. Established in October 2022 as a joint venture between the Public Investment Fund (80%) and Saudi Tadawul Group (20%), VCM provides institutional-grade infrastructure for trading high-integrity voluntary carbon credits through auctions, RFQ mechanisms, block trades, and a spot market added in 2025. The platform, built on technology infrastructure from Xpansiv, connects Global South climate project developers (across reforestation, methane capture, renewable energy, and carbon storage) with regional and international corporate buyers. Since inception, VCM has facilitated over 10 million carbon credits and hosted three record-breaking auctions, with the November 2024 platform launch trading 2.5 million+ tonnes at 37.5 SAR/tonne.

The company generates revenue through transaction fees on platform trades and auction-based clearing. Its pricing is market-determined through auction mechanisms, and its distribution is anchored by Saudi enterprise members representing over 65% of national corporate emissions — including Aramco Trading Company, Saudi Electricity Company, SABIC, Ma'aden, Saudi National Bank, and other banks and corporates across energy, utilities, petrochemicals, mining, aviation, and real estate. VCM has expanded internationally via partnerships with Marubeni (Japan), Climate Bridge International (Singapore), SINAI Technologies, Sequest, and McGill St Laurent (North America), and integrated with the Qatar-based Global Carbon Council's CORSIA-accredited program. The company also holds a first-mover regulatory landmark: jointly securing the first-ever Islamic Finance Fatwa for carbon credits at COP27.

VCM's go-to-market combines institutional sales-led engagement with high-profile thought leadership at COP conferences, the Future Investment Initiative, and industry summits. The company complements its exchange business with advisory services (e.g., real estate carbon framework development with ROSHN Group), content products (Carbon X Change Newsletter, The Souk Chatter podcast), and exclusive supplier agreements that route international credits exclusively through its Saudi platform.

Name

Regional Voluntary Carbon Market Company

Legal name

Voluntary Carbon Market Company

Website

https://vcm.sa

Company type

Private

Founded year

2022

Operating status

Operating

Short description

VCM operates Saudi Arabia's first voluntary carbon credit exchange, connecting Global South climate project developers with Saudi and international corporate buyers through an institutional-grade trading platform built on Xpansiv infrastructure, supporting auctions, RFQ, block trades, and spot market transactions.

Ownership category

akta.pro rank

Product category

Voluntary Carbon Markets

akta.pro primary industry

Voluntary Carbon Offsets Trading (Verified Credits: VCM) (EUAGAIAB)

akta.pro secondary industries

Carbon Credit Brokerage & Trading (Spot, Forward, Structured Products) (EUABADAB), Project-Originated Carbon Credit Marketing & Offtake (Primary Market) (EUAGAIAC), Carbon Credit Brokerage & Intermediation (Voice/Electronic) (EUAGAIAD), Carbon Markets & Climate Finance (Offsets, Allowances, Carbon Funds) (FSAAALAH), Carbon Claims, Labeling & Communications Advisory (VCMI/ICVCM Guidance, Claim Substantiation) (EUABADAI)

Keywords

• Voluntary carbon exchange
• Carbon credit trading
• Carbon offset marketplace
• Climate finance platform
• Carbon market auctions

Headquarters

HQ city

Ar Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Carbon Credit Trading Transaction Fees: VCM generates revenue through transaction fees on carbon credit trades executed on its exchange platform. The platform enables price discovery and trading of carbon credits through auctions, RFQ, and block trades, with clearing prices established through market mechanisms.
2. Auction-Based Carbon Credit Sales: The company conducts regular auctions of carbon credits, selling credits to participating buyers at determined clearing prices. Third auction traded 2.5M+ tonnes at 37.5 SAR/tonne.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels9 records

Core offering

VCM operates an institutional-grade electronic exchange platform (market.vcm.sa) for trading high-integrity voluntary carbon credits, enabling Saudi and international companies to offset greenhouse gas emissions via auction, RFQ, block trade, and spot market mechanisms. The platform connects Global South climate project developers with regional corporate buyers, supports CORSIA-eligible and Verra-registered credits, and includes infrastructure for Islamic Finance-compliant carbon credit transactions.

Product overview

The Regional Voluntary Carbon Market Company (VCM) operates a single unified platform — the VCM Exchange Platform (market.vcm.sa) — which serves as Saudi Arabia's first voluntary carbon credit exchange. The platform provides institutional-grade infrastructure for trading high-integrity carbon credits through auction, RFQ (request for quote), and block trade mechanisms, with spot market trading added in 2025. Built on Xpansiv market infrastructure, the platform connects global supply of carbon credits (from Global South projects in reforestation, methane capture, renewable energy, and carbon storage) with regional demand from Saudi and international buyers. VCM's activities also include organizing periodic carbon credit auctions (three major auctions held to date), producing thought-leadership content through its blog/podcast series 'The Souk Chatter' and the Carbon X Change Newsletter, and facilitating partnerships with international carbon market entities for advisory, carbon accounting, and removal services. The company does not operate as a modular or multi-product software suite; its primary offering is the exchange platform supplemented by market facilitation services.

Differentiator

Problem solved

Functional benefit

Products and services

• VCM Exchange Platform Saudi Arabia's first voluntary carbon credit exchange platform, providing institutional-grade infrastructure for transparent, scalable trading of high-integrity carbon credits via auction, RFQ, block trade, and spot market mechanisms. The platform has open market connectivity to leading global registries and is built for Saudi, MENA, and international corporate buyers and Global South project developers.
• Carbon Credit Auctions Periodic auction events for high-quality, verified carbon credits organized by VCM, including record-breaking global auctions in Riyadh, Nairobi, and on the exchange platform, connecting Global South climate projects with Saudi and international corporate buyers. Over 6 million tonnes have been sold across the first three auctions.

Quantifiable outcome

• Over 10 million carbon credits traded since inception
• +3 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

13 partnerships are on record, tiered core and major.

• ROSHN GroupcoreStrategic or Co-development Partner · 13 February 2026Strategic partnership to develop high-integrity carbon credits within Saudi Arabia's real estate sector. Initial phase focuses on assessing emissions reduction potential from water-saving technologies across ROSHN Group projects, with VCM providing advisory support on carbon market structuring, credit issuance, and project design.
• Future Investment Initiative (FII) InstitutecoreStrategic or Co-development Partner · 10 February 2026Collaborative partnership on 'Financing The Future Impact Report 2026' examining public-private partnerships in climate finance. Report finds PPPs anchored in citizen outcomes attract capital more effectively than profit-only models.
• Digital Cooperation Organization (DCO)majorStrategic or Co-development Partner · 10 February 2026Collaborative partnership on 'Financing The Future Impact Report 2026' examining public-private partnerships for closing USD 15 trillion global infrastructure gap by 2040.
• KearneymajorStrategic or Co-development Partner · 10 February 2026Collaborative partnership on 'Financing The Future Impact Report 2026' examining public-private partnerships for closing USD 15 trillion global infrastructure gap.
• SINAI Technologies Inc.coreTechnology or Integration · 7 February 2026Partnership for exclusive provision of SINAI carbon accounting platform in Saudi Arabia. SINAI provides carbon accounting and decarbonization planning platform enabling organizations to measure emissions and plan transition strategies, with all data hosted within the Kingdom.
• SequestcoreTechnology or Integration · 7 February 2026Partnership with US-based Sequest for carbon removal projects to be deployed in Saudi Arabia. Sequest specializes in permanent, scalable carbon removal projects, with credits to be exclusively offered through VCM platform.
• McGill St Laurent Climate SolutionscoreTechnology or Integration · 7 February 2026Partnership with Canadian carbon credit trader for high-quality natural carbon solutions. McGill St Laurent will sell carbon credits exclusively in Saudi Arabia through VCM platform, providing regional buyers access to internationally recognized nature-based credits.
• Global Carbon Council (GCC)coreTechnology or Integration · 27 January 2026Strategic partnership with Qatar-based Global Carbon Council to scale regional voluntary carbon markets through GCC's certification standards and VCM's trading platform. Over 600,000 tons of GCC-certified credits traded in first month since integration. GCC is first international GHG programme in Global South accredited by ICAO under CORSIA.
• Marubeni CorporationmajorStrategic or Co-development Partner · 4 December 2025Memorandum of Understanding with Marubeni Saudi Investment Company for carbon market collaboration. Marubeni is Japan's first Japanese partner for VCM. Formalized at FII Priority Summit in Tokyo, expanding VCM's Asian membership.
• Climate Bridge InternationalmajorStrategic or Co-development Partner · 4 December 2025Advisory partnership with Climate Bridge International (Singapore) for carbon market collaboration. Formalized at FII Priority Summit in Tokyo, expanding VCM's global reach and Asian membership.
• SawanimajorGTM or Marketing Partner · 14 July 2024MoU for voluntary carbon offsetting with Sawani (PIF portfolio company in camel milk industry). Sawani committed to purchase minimum 10,000 carbon credits from VCM in 2024, with exclusive 2-year collaboration on purchase and sale of voluntary carbon offsets. VCM provides advice on emission measurement, decarbonization strategies, and carbon credit generation.
• XpansivcoreTechnology or Integration · 25 April 2024Technology infrastructure provider for VCM exchange platform. Xpansiv is the leading market infrastructure provider for global energy transition, providing platform technology to support VCM's ambition to scale global supply and demand for carbon credits.
• International Islamic Trade Finance Corporation (ITFC)coreStrategic or Co-development Partner · 1 November 2022Joint effort resulted in first-ever Fatwa issued for carbon credits as enabling commodity for Islamic Finance, announced at COP27. Facilitates use of carbon credits by Islamic financial institutions.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Others

• Gold Standard: Swiss-based international carbon credit standard for high-integrity project certification. Comparable to VCM as a registry/standard-setter whose certified credits flow through VCM's exchange, and a governance benchmark for credit integrity.
• Verra: Operator of the Verified Carbon Standard (VCS), the world's largest voluntary carbon credit standard registry. Comparable to VCM as a critical infrastructure provider in the VCM value chain whose standards underpin the majority of credits traded on VCM.

Emerging players

• Carbon Growth Partners: Advisory and carbon credit origination firm focused on emerging market project development and corporate offtake. Comparable to VCM as an adjacent intermediary channeling Global South supply to corporate demand.
• Global Carbon Council (GCC): Qatar-based international carbon crediting programme, the first Global South GHG programme accredited by ICAO under CORSIA. Directly comparable as a regional Gulf-based carbon market participant and VCM's strategic partner for GCC-certified credits.
• Patch: US-based carbon credit API platform enabling businesses to embed carbon offsetting directly into products and checkout flows. Comparable to VCM as a digital distribution channel for voluntary credits targeting enterprise buyers.

Direct peers

• Climate Impact X (CIX): Singapore-based carbon exchange jointly launched by DBS and SGX, focused on high-quality nature-based credits in Asia. Comparable to VCM as a regional, government/sovereign-aligned exchange serving corporate net-zero demand.
• Carbonplace: London-based carbon credit exchange backed by a consortium of major global banks (Standard Chartered, UBS, Barclays, BNP Paribas, Lloyds, SG, BBVA). Comparable to VCM as a multi-bank, institutional-grade exchange targeting corporate buyers.
• AirCarbon Exchange: Singapore-headquartered voluntary carbon credit exchange offering spot, futures, and auction trading across CORSIA-eligible and VCS-registered credits. Directly comparable to VCM as a regional carbon exchange platform; notably, VCM's CEO previously built AirCarbon's trading platform.

Regional players

• Korea Exchange (KRX) Carbon Market: South Korea's K-ETS allowance and KCU (Korean Credit Unit) market operated by the Korea Exchange. Comparable as a regional Asian emissions/carbon exchange with government backing, though focused on compliance rather than voluntary credits.

Broad incumbents

• Xpansiv: Global market infrastructure provider for the energy transition, operating its own spot carbon exchange (CBL) and supplying the technology that powers VCM. Comparable as both a tech partner and a competitor exchange, with significantly broader global scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/vcm_en
• LinkedInlinkedin.com/company/voluntarycarbonmarket

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Regional Voluntary Carbon Market Company