In preparation for the COP28 summit, Riyadh will host many top leaders from many continents like Asia, Africa, and Latin America.
The leaders are going to discuss the positive impact of carbon trading on climate change, the sovereignty of credits in the global south, and the role of Islamic finance in accelerating green market development.
The Kingdom of Suadi Arabia will host the Global South Carbon Markets Conference on Oct. 26 during the Future Investment Initiative in association with S&P Global Commodity Insights.
Rania Nashar, chairwoman of RVCMC, said: “Carbon trading is a key tool in helping the world address the devastating effects of climate change.”
“ With this event in Riyadh, we are bringing together voices from across the global south to find agreement on what we all want to see happen at COP28.”
She added: “We need a unified approach to help take this fast-growing market in carbon credits and see it become an even more crucial factor in supporting the global drive toward a carbon-neutral future.”
Riham ElGizy, CEO of RCVMC said, “Carbon trading is very crucial for the world to mitigate the risks associated with climate change. “
She futher said, “Carbon trading can become a very powerful tool to scale and finance the export of voluntary carbon credits from the Global South, to mitigate the impacts of climate change globally while providing the Global South with financial resources to support their development and address the impacts of climate change.”
According to Arab News Newspaper, RCVMC is planning to launch a carbon credit exchange platform in the second half of 2024.
