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Saudi Arabia Holds Middle East’s First Carbon Offset Auction

  • One million tons of carbon credits were offered Tuesday
  • Carbon credits meet the requirements of the Corsia program
Updated on

Saudi Arabia launched the Middle East’s first carbon offset auction, offering 1 million credits at the Future Investment Initiative conference in Riyadh on Tuesday.

The carbon credits comply with Corsia, a program run by the International Civil Aviation Organization, and are registered with world’s largest offsets verifier Verra, said Saudi Arabia’s Public Investment Fund in a statement