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Friday, December 13, 2024

Home Business ITFC successfully bids for PIF’s biggest-ever carbon credit auction during FII

ITFC successfully bids for PIF’s biggest-ever carbon credit auction during FII

by News desk
October 31, 2022
in Business

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The International Islamic Trade Finance Corp. has successfully bid for the Saudi Public Investment Fund’s Voluntary Carbon Market Initiative Auction that resulted in 1.4 tons of carbon credit during the 6th edition of the Future Investment Initiative in Riyadh last week.

A member of the Islamic Development Bank Group, ITFC was among 15 other Saudi and regional entities that took part in the largest carbon credit sale.

“This is a remarkable achievement for ITFC towards innovation in green trade financing and development of sustainable trade, as well as supporting OIC members countries’ efforts in addressing climate change challenges.”—Arab news