Saudi Arabia has launched the Greenhouse Gas Crediting and Offsetting Mechanism (GCOM), a domestic market initiative designed to reduce greenhouse gas emissions and promote sustainability. GCOM operates as a voluntary offset scheme, allowing companies and entities to voluntarily offset their emissions by purchasing credits from projects that reduce or remove greenhouse gas emissions. The mechanism covers various greenhouse gas and non-greenhouse gas metrics across all sectors and is open to both public and private entities. It supports Saudi Arabia's goal of achieving net-zero emissions by 2060 and aligns with the Paris climate agreement's Article 6, emphasizing project-based, voluntary participation.

Source:  ESGNews