Saudi Arabia: Yanbu Cement was among successful bidders in Saudi Arabia s largest carbon credit auction to date earlier in November 2022. The Saudi Public Investment Fund (PIF) s Voluntary Carbon Market Initiative Auction sold 1.4Mt-worth of carbon credits to 15 different entities, of which Yanbu Cement was the only cement sector representative. The PIF said that the sale will support the country s Saudi Vision 2030 development goal, while also advancing its progress towards net zero CO2 emissions by 2060. /Global Cement