SHARM EL SHEIKH, Egypt: New details about the targets of Saudi Arabia’s Green Initiative were revealed on Friday on the first day of the SGI Forum in the Egyptian city of Sharm El-Sheikh.
The Saudi Green Initiative, launched by Crown Prince Mohammed bin Salman last year along with a broader Middle East Green Initiative, presents a road map for the Kingdom’s climate action and paves the way for it to achieve achieve its goal of achieving net-zero emissions in 2060.
Speaking at the forum, which took place on the sidelines of the UN Climate Change Conference, COP27, Saudi Energy Minister Prince Abdulaziz bin Salman said his country supports the Kingdom’s climate initiatives as well as developing countries.
He said that innovation is the key to support the next generation, protect the environment and develop renewable energies.
However, he added that new practices are needed to safely use existing energy sources and move towards the transition.
The prince called on the public to be conscious of energy consumption, and said that Saudi Aramco and other national bodies are taking steps to reduce waste.
Prince Abdulaziz bin Salman, the Saudi energy minister (left), called on other countries to follow the Kingdom’s lead in the green transition. (provided)
“The entire government is working together to deliver the Saudi Green Initiative,” he said.
“Next year, we will finalize plans for the development of 10 more renewable-energy projects and connect an additional 840 megawatts of solar PV (photovoltaic) power to our grid.
“Today, we announce that we will launch a greenhouse gas crediting and offsetting scheme at the beginning of 2023 to support and encourage efforts and investments in emission reduction and removal projects in all sectors of the Kingdom.”
Last year, Saudi Arabia accelerated the pace of its action on climate change. It aims to meet SGI’s target of having 30 percent of its land and sea territory under protection by 2030. It will also plant more than 600 million trees within the same time frame – an increase of more than 150 million in the first goal.
Prince Abdulaziz also announced the signing of an agreement with Saudi Aramco to develop one of the largest planned carbon capture and storage hubs in the world.
Scheduled to open in 2027 in Jubail Industrial City, it will capture and store nine million tons of carbon dioxide per year in its first phase. The Kingdom aims to save 44 million tons per year by 2035.
Three carbon-capture pilot projects were also announced at the summit, involving the King Abdullah University of Science and Technology, the NEOM smart city, Saudi Electricity Company, Alsafwa Cement Company, Ma’aden and Gulf Cryo.
Since the launch of SGI, more than 18 million trees have been planted in the Kingdom. Of this, 13 million are mangroves.
The regeneration of Saudi Arabia’s natural forests aims to provide a living barrier against coastal erosion and a natural defense against climate change; trees absorb five times more carbon than tropical forests.
The Kingdom has also launched 17 initiatives across the country to restore natural greenery. As part of its contribution to the trees target, the NEOM smart city project announced this year that 1.5 million hectares of land will be rehabilitated, and 100 million native trees, shrubs and grasses will be planted by 2030.
“Saudi Arabia is working on the environment at a national, regional and international level,” Environment Minister Abdulrahman Al-Fadley told the summit.
Saudi Environment Minister Abdulrahman Al-Fadley spoke during a panel at the SGI Forum. (AFP)
“As a global community, we must work comprehensively and take many actions together.
“In Saudi Arabia we have a clear strategy that identifies the gaps that exist in our environmental policy and works to find environmentally-based solutions.”
Khaled Alhusaini, the senior engineer of the Saudi Ministry of Energy, said that the Saudi Green Initiative paves the way for joint work within the various entities, ministries, organizations and companies of the Kingdom working in the same strategic direction, “believes that shaping tomorrow through today’s actions. .”
“The minister of the Ministry of Energy is working on many projects and initiatives, such as renewable energy, clean hydrogen production, and the policy of using carbon capture,” he told Arab News.
Regarding the youths, he emphasized that they have an important role and has worked with some youths within the ministry of energy, in the hope that they will deliver on their strategic goals and KPIs, and SGI aims to deliver that .
“The big message for the world is that Saudi Arabia is changing, Saudi Arabia is making a big difference here within the Middle East region, so we’re happy that (we can) deliver the message to that and to people here,” he said.
The SGI Forum included exhibits from Saudi companies involved in climate action. (provided)
“Many people have admired the efforts of Saudi Arabia, they say they have seen the projects, what has been done, what is happening and what is planned for the future,” he said. “It’s a big message to the world that Saudi Arabia has a dream and is working for that to be achieved.”
Industry Minister Bandar Al-Khorayef emphasized the importance of mining in the country’s economic development. He told the forum that his government would continue to “feed” opportunities to companies interested in tapping into the Kingdom’s estimated $1.3 trillion mining sector.
Al-Khorayef said Saudi Arabia’s growing mining industry can learn from its oil, gas, and petrochemical sectors on how to boost production.
The minister added that the Kingdom has many advantages over other countries.
“Globally, the time it takes to get a mining license is ridiculous. Saudi Arabia grants mining licenses in 90 to 180 days, but globally, it takes years,” said he.
Industry Minister Bandar Al-Khorayef emphasized the importance of mining in the country’s economic development. (Twitter: @Gi_Saudi)
He added that the ministry conducted three license auctions this year and five more will be held next year.
“In addition to our resources, our geographical location, we believe that Saudi Arabia will be a great asset for the stability of the global community,” he said.
“Looking at our experience, how we link the oil and gas business with the petrochemical business, where it is a smooth operation, where we get the highest impact.
“That’s why we are more competitive. If we do the same thing in mining, I am sure we can do more than expected.
Tarek El-Molla, the Egyptian minister of petroleum and mineral resources, told the COP27 summit that energy efficiency, reduction of emissions, and decarbonization are among the main priorities of his country but he called on the private company to play a more active role.
He said that Egypt wants to be a major partner in environmental and carbon initiatives and used COP27 as a first step in the run-up to the next global climate summit, COP28, in the UAE next year.
