Saudi PIF-backed RVCMC selects Xpansiv to launch carbon credit exchange

The Public Investment Fund (PIF)-backed Regional Voluntary Carbon Market Company (RVCMC) has selected commodity exchange Xpansiv to provide tech infrastructure for its carbon credit market set to launch later this year in Saudi Arabia.
The new exchange will be built on Xpansiv’s open-access market infrastructure, including a fully automated, same-day settlement platform and a portfolio management system, both of which will be integrated with leading global registries, RVCMC said in a statement.

“RVCMC will set tight guiderails for the exchange to ensure the listing of high integrity carbon credit projects only, all backed by independent standard setters, to support the global energy transition,” it said.