Saudi Aramco Base Oil Company – Luberef has participated in the largest-ever voluntary carbon credit auction that was arranged by the Regional Voluntary Carbon Market Company (RVCMC), that has announced the successful auction of over 2.2 million tonnes of carbon credits, which was held in Nairobi, Kenya on June, 2023.

RVCMC was established by the Public Investment Fund (PIF) and Saudi Tadawul Group to offer guidance and resourcing to support businesses and industry in the MENA region as they play their part in the global transition to Net Zero.

The success of this auction illustrates Saudi Arabia’s commitment to tackle climate change in line with Saudi Green Initiative and Vision 2030.