How carbon markets are developing across the GCC — the UAE's National Carbon Register, ADGM trading, Saudi Arabia's RVCMC exchange, and the region's Article 6 ambitions.
Introduction
The Gulf is not just a buyer of carbon credits — it is building the market itself. In a remarkably short time, the GCC has stood up national registers, regional exchanges and Article 6 frameworks, positioning itself as a carbon-market hub between East and West. This guide maps the landscape. It applies the fundamentals from across our carbon-credits series to the region.
The UAE — a national register
The UAE’s National Register for Carbon Credits, established by Cabinet Resolution No. 67 of 2024, is the region’s most developed framework. At its core is a Monitoring, Reporting and Verification (MRV) regime and a national registry that lets organisations register emission reductions and trade domestically and internationally. Crucially, it requires credits to align with Article 6 of the Paris Agreement, supporting the UAE’s climate-neutrality-by-2050 goal. It complements the UAE Climate Change Law (Federal Decree-Law 11 of 2024) and its MRV platform.
Saudi Arabia — a regional exchange
Saudi Arabia’s Regional Voluntary Carbon Market Company (RVCMC) — established by the Public Investment Fund and the Saudi Tadawul Group — has run some of the largest voluntary carbon-credit auctions in the world and launched a regional carbon-credit exchange at COP29 in November 2024. Its ambition: make Saudi Arabia one of the world’s largest voluntary carbon markets by 2030.
The regional picture
| Jurisdiction | Infrastructure |
|---|---|
| UAE | National Register (Cabinet Res. 67/2024); ADGM carbon trading |
| Saudi Arabia | RVCMC exchange + large-scale auctions |
| Qatar / Bahrain / Oman | Developing frameworks; Article 6 interest |
Abu Dhabi Global Market (ADGM) has also built carbon-trading infrastructure, and other GCC states are developing their own approaches.
The Gulf is doing something unusual: building its carbon-market rules and its climate targets at the same time — and wiring Article 6 integrity in from day one, rather than retrofitting it later.
What it means for GCC companies
For companies in the region, the infrastructure is arriving fast, and it comes with obligations and opportunities:
- Register and report emissions where the national MRV regime requires it.
- Source credibly — align with CCP/VCMI integrity and Article 6.
- Consider developing projects, given the region’s renewable-energy, carbon-capture and nature-based potential.
How ESGweise helps
ESGweise helps GCC companies navigate the region’s carbon-market infrastructure — MRV and national-register obligations, sourcing high-integrity credits through RVCMC and other channels, and aligning with Article 6. See our carbon and strategy practices and our guide to the UAE National Carbon Register.
References & sources
- UAE Cabinet Resolution No. 67 of 2024 — National Register for Carbon Credits
- RVCMC — Regional Voluntary Carbon Market Company
- UNFCCC — Article 6 cooperative implementation
Conclusion
The GCC is building carbon-market infrastructure at speed — the UAE’s Article 6-aligned National Register, Saudi Arabia’s RVCMC exchange and large-scale auctions, and ADGM’s trading platform — while positioning as both host and buyer under Article 6. For companies in the region, the market is no longer distant: registration, credible sourcing and even project development are live opportunities. The Gulf intends to be a carbon-market hub, and the rules to make that credible are already in place.
Frequently asked questions
Is there a carbon market in the GCC?
Yes, and it is developing quickly. The UAE has established a National Register for Carbon Credits under Cabinet Resolution 67 of 2024, with an MRV and trading regime. Saudi Arabia's Regional Voluntary Carbon Market Company (RVCMC) launched a regional carbon-credit exchange at COP29 in November 2024 and has run some of the world's largest voluntary carbon-credit auctions. Abu Dhabi Global Market (ADGM) has also developed carbon-trading infrastructure. The GCC is positioning itself as a significant carbon-market hub.
What is the UAE National Register for Carbon Credits?
It is the framework established by Cabinet Resolution No. 67 of 2024 to regulate carbon credits in the UAE. At its core is a Monitoring, Reporting and Verification (MRV) regime and a national registry that allows organisations to register emission reductions and participate in domestic and international carbon trading. The resolution requires credits to align with Article 6 of the Paris Agreement, supporting the UAE's commitment to climate neutrality by 2050.
What is Saudi Arabia's RVCMC?
The Regional Voluntary Carbon Market Company (RVCMC) is a Saudi entity established by the Public Investment Fund (PIF) and the Saudi Tadawul Group to develop the voluntary carbon market in the region. It has run several large voluntary carbon-credit auctions — including some of the largest ever — and launched a regional carbon-credit exchange platform at COP29 in November 2024, with the ambition of making Saudi Arabia one of the world's largest voluntary carbon markets by 2030.
How does the GCC use Article 6 of the Paris Agreement?
GCC states are engaging with Article 6 as both hosts and buyers. The UAE's National Register requires credits to align with Article 6, and the UAE is pursuing bilateral Article 6.2 agreements to cooperate on mitigation outcomes (ITMOs). With significant renewable-energy, carbon-capture and nature-based project potential, the region sees Article 6 both as a route to its own net-zero targets and as a potential source of high-quality credits for international transfer.