flynas signs Cooperation Agreement with VCM to support Saudi's climate ambitions

This is in line with the Kingdom's goals to reach net zero emissions by 2060.

This agreement, signed by Riham ElGizy, Chief Executive Officer of VCM, and Waleed Ahmed, Director of Corporate Communications at flynas, aims to establish the foundations of cooperation between the two parties and determine the relevant conditions regarding participation in the voluntary carbon market, including participation in the carbon credit trading platform, to be launched by VCM in November 2024.

Director of Corporate Communications at flynas, Waleed Ahmed, explained that the agreement aligns with the company's sustainability strategy to adopt initiatives with sustainable impact on the environment, society, and economy.

"flynas is moving towards launching a voluntary carbon offset programme with the participation of passengers on its domestic and international flights. The partnership with the Regional Voluntary Carbon Market Company will constitute a qualitative addition to flynas' sustainability programs and ensure that its initiatives align with national objectives to reduce carbon emissions and fulfil the Kingdom's commitments to the climate agreement," Ahmed said.

Michael Blackwell, chief operating officer of the regional voluntary carbon market, said: "We believe in driving climate action and improving livelihoods by ensuring high levels of integrity in voluntary carbon markets. This agreement is an important step in achieving the Kingdom's climate goals, as we are keen to provide an effective framework for carbon offsetting, which contributes to protecting our environment and achieving the necessary balance between economic development and preserving our planet. We renew our commitment to net zero by 2060, and we are excited to see how this partnership will contribute to directing funds towards climate projects."