The Voluntary Carbon Market Company (VCM) and Enowa, NEOM’s energy and water arm, have struck a landmark deal to deliver at least 30 million tonnes of high-integrity carbon credits by 2030. This long-term agreement shows Enowa’s promise to offset its unavoidable emissions. It also supports global climate action. This is especially true for projects in the Global South, which gain stable, long-term funding. The first delivery occurred in December 2024.

The VCM–Enowa agreement is a big step in voluntary carbon markets. It moves from one-time purchases to a long-term approach. Under the deal, Enowa will secure 30 million tonnes of high-quality carbon credits by 2030—about 3 million tonnes annually. This steady volume helps stabilize the market for everyone. It also unlocks vital funding for climate projects worldwide.

Enowa, already active in previous VCM auctions, becomes the first company in Saudi Arabia to enter such a long-term deal. Acting CEO Jens Madrian said it reflects their commitment to NEOM’s goal of 100% renewable energy. NEOM’s green infrastructure vision aligns closely with Enowa’s emissions management strategy.

Read the full story at Carbon Credits