Sequest and Red Sea Global Partner to Scale Durable Carbon Removal in Saudi Arabia
The companies sign a Memorandum of Understanding at the Future Investment Initiative in Rome to develop durable carbon removal projects in the Kingdom
ROME, 18 June 2026. Sequest, a durable carbon removal company, and Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA, today announced a partnership to scale durable carbon removal projects in the Kingdom of Saudi Arabia. The companies signed a Memorandum of Understanding (MoU) at the Future Investment Initiative 2026 in Rome, Italy.
Saudi Arabia has rapidly become a hub for global carbon markets, in line with Vision 2030 and the Saudi Green Initiative. Through the PIF-backed Regional Voluntary Carbon Market Company, the Kingdom is home to of one of the world’s largest voluntary carbon markets. The next frontier is supply: scaling high-integrity, durable carbon removal within the Kingdom itself. That is the opportunity Sequest and Red Sea Global are partnering to address.
"Red Sea Global is committed to delivering a net conservation gain for people and planet, and to advancing Saudi Arabia's climate ambitions. Partnering with Sequest to develop durable carbon removal in the Kingdom reflects our drive to pioneer regenerative tourism solutions that enhance the environment while creating lasting value for future generations," said John Pagano, Group CEO at Red Sea Global.
Gary Ganz, CEO and Co-Founder of Sequest, said: "Saudi Arabia is building one of the most ambitious carbon markets in the world, and the missing piece is domestic supply of durable carbon removal delivered at industrial scale. That is what we intend to build, and there are few better partners to build it with than Red Sea Global, who have shown the world what regenerative development looks like. The Kingdom's environment and ambition make it one of the best places on earth for Sequest’s pioneering approach, and we intend to make Saudi Arabia a global hub for it."
About Red Sea Global
Red Sea Global (RSG) is a vertically integrated real estate developer with a diverse portfolio across tourism, residential, experiences, infrastructure, transport, healthcare, and services. This includes the luxury regenerative tourism destinations The Red Sea, which began welcoming guests in 2023, and AMAALA, which welcomed its first guests in 2026.
A third destination, Thuwal Private Retreat, opened in 2024 and RSG was also entrusted with refurbishment works at AlWajh Airport, focused on upgrading the terminal and infrastructure.
RSG is a PIF company and a cornerstone of Saudi Arabia’s ambition to diversify its economy. Across its growing portfolio of destinations, subsidiaries, and businesses, RSG seeks to lead the world towards a more sustainable future, showing how responsible development can uplift communities, drive economies, and enhance the environment.
About Sequest
Sequest is pioneering industrial-scale, low-cost, durable carbon removal. We close the carbon market’s delivery gap with high-integrity removals.
For media enquiries: info@sequest.com | www.sequest.com