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  • 31-10-22

    ITFC positively proposes for PIF’s largest-ever credit auction throughout FII

    (MENAFN) The International Islamic Trade Finance Corp. has positively proposed for the Saudi Public Investment Fund’s Voluntary Carbon Market Initiative Auction that caused in 1.4 tons of carbon credit throughout the 6th edition of the Future Investment Initiative in Riyadh last week.

    An associate of the Islamic Development Bank Group, ITFC was between 15 additional Saudi and local entities that took role in the biggest 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,” as stated by Hani Sonbol, chief executive of ITFC.

    The VCM initiative is a continuance of the PIF’s efforts to back the nation’s green agenda as well as the completion of its USD3 billion opening green bond, as well as many renewable ventures ruled by the fund as part of its pledge towards establishing 70 percent of Saudi Arabia’s renewable energy volume.

    MENAFN31102022000045014228ID1105103405

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