Flynas Signs Cooperation Agreement With VCM In Support Of The Kingdom's Climate Ambitions
Date
10/23/2024 6:20:13 AM
(MENAFN- Asdaf News)
Riyadh – Asdaf News:
flynas, the leading low-cost airline in the world and the best LCC in the Middle East, has signed an agreement with the Regional Voluntary Carbon market Company (VCM), owned by the Public investment Fund (PIF) and Saudi Tadawul Group, to cooperate in the field of carbon offsetting, environmental protection, and sustainability, 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.
VCM's mission is to create a global voluntary carbon market-based in Saudi Arabia, enabling the local market to prioritize high-quality carbon credits and take positive climate action. The company is building an ecosystem that includes a carbon credit trading platform and advisory services to help businesses and industries understand carbon reduction methods.
flynas signed up for the United Nations Global Compact to work towards making the UN Sustainable Development Goals (SDGs) part of its strategy, culture, and operations, making the national carrier the first LCC in the Middle East to join the world's most significant corporate sustainability initiative. flynas has also joined the United Nations World Tourism Organization, enhancing the company's capabilities to contribute to sustainable global tourism. The leading LCC has also signed an agreement with the Saudi Investment Recycling Company (SIRC) to explore partnership opportunities and best options for adopting technology and ideal recycling solutions to treat flynas' waste, such as oils, plastics, batteries, etc.
Tags#flynas #LCC
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