Saudi Tadawul Group says Regional Voluntary Carbon Market capitalized at SAR 500 mln

Logo of Saudi Tadawul Group Holding Co.

Saudi Tadawul Group Holding Co. announced establishing Regional Voluntary Carbon Market Co. in participation with the Public Investment Fund (PIF) with SAR 500 million in capital.

 

Saudi Tadawul Group's ownership in the new firm will likely reflect positively on its financial results, after the launch of the commercial operations in the new unit, according to a company statement.

 

The Saudi sovereign wealth fund is a related party, being the major shareholder with a 70% stake in Saudi Tadawul Group.

 

The PIF announced on Oct. 24, the establishment of the Regional Voluntary Carbon Market Co., where PIF holds an 80% stake and Saudi Tadawul Group holds the remaining 20% interest, Argaam reported.

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