Saudi Arabia Commits To Reaching Net-Zero By 2060
One of the world’s major oil producers Saudi Arabia has revealed its intent to reach net-zero greenhouse gas emissions by 2060 ahead of the COP26 climate summit.
The Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud announced a diverse set of initiatives in the Kingdom as a roadmap to protect the environment and address climate change challenges.
Salman added that the first wave of initiatives would deliver against the targets under the Saudi Green Initiative and include programs that aim to achieve more than 278 Mtpa carbon emissions reduction by 2030.
This is more than doubling delivery against the emissions reduction target set forth at the announcement of the Saudi Green Initiative earlier this year. The Kingdom will also join the Global Methane Pledge to contribute to cutting global methane emissions by 30 percent by 2030.
Saudi Arabia will also plant 450 million trees and rehabilitate 8 million hectares of degraded lands by 2030, reducing 200 million tons of carbon emissions with additional initiatives to be announced in the years to come. The transformation of the country’s capital city Riyadh into one of the world’s most sustainable cities is already underway.
The Saudi Prince added that an increasing area of land is being designated for protection in the coming years, to achieve the first 20 percent of the goal to protect over 30 percent of the Kingdom’s total land area, with initiatives to deliver the final 10 percent to be announced at a later stage.
Mohammed bin Salman claimed that the country’s aimed to achieve net-zero emissions by 2060 through the Carbon Circular Economy approach. Saudi Arabia’s ambition to reach net-zero aligns with the Kingdom’s economic diversification and development plans and the "Dynamic Baseline" for emissions reduction.
The transition to net-zero emissions will be delivered in a manner that preserves Saudi Arabia’s leading role in enhancing the security and stability of global energy markets, particularly considering the maturity and availability of technologies necessary to manage and reduce emissions.
The country will also be joining the Global Ocean Alliance, establishing the Ocean Exploration Foundation, and announcing several initiatives – including a Global Center for Tourism Sustainability.
Bin Salman further stated that this first set of initiatives represents over $186.6 billion contributing to the growth of the green economy.
“The Saudi Green Initiative will provide huge investment opportunities for the private sector, quality job opportunities for the next generation of leaders in the Kingdom, and enhanced international relationships that will have a positive impact on the region and the world,” bin Salman said.
To contact the author, email email@example.com
What do you think? We’d love to hear from you, join the conversation on the
Rigzone Energy Network.
The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.
Editor | Rigzone