Saudi Pledges More Than $1 Bn In 'green Era' Initiatives
Mohammad Ali (@ChaudhryMAli88) Published October 25, 2021 | 10:40 PM
Riyadh, (UrduPoint / Pakistan Point News - 25th Oct, 2021 ) :Saudi Arabia's de facto ruler pledged more than $1 billion for new global environmental initiatives on Monday, taking further steps to bolster the green credentials of the world's top oil exporter.
Two days after targeting carbon neutrality by 2060, and ahead of next week's COP26 global climate change summit, Crown Prince Mohammed bin Salman announced two initiatives to fund the "circular carbon economy" and provide "clean fuel" to help feed 750 million people worldwide.
The two initiatives were targeted to cost 39 billion Riyals ($10.4 billion). Saudi Arabia will contribute 15 percent and seek the remainder from regional funds and other countries, Prince Mohammed said.
"Today we are initiating a green era for the area, believing that these changes are not only for the environment but also for the economy and security," he told heads of state and other senior officials at the middle East Green Initiative Summit in Riyadh.
"We will work on establishing an investment fund in solutions with circular carbon technology in the region and a global initiative which will supply solutions for clean fuel to provide food for more than 750 million people globally."The "circular carbon economy" is a concept promoted by the Saudis which aims to remove and store carbon for reuse in other products.
Related Topics
Recent Stories
Pakistan marks World Press Freedom Day
High-level Saudi business delegation due on May 5
Stocks heat up as US labour market cools
President approves Tax Laws (Amendment) Bill 2024
Implementation of merit, justice to oppressed segments top priorities: CPO
Overseas Kashmir community delegation calls on AJK President, discusses latest s ..
Govt believes in freedom of press: Amir Muqam
Labour urges UK election after Tory losses
Health authorities asked for action against alleged illegal tenders at Services ..
Spain scraps national bullfighting prize sparking debate
Lahore High Court (LHC) Chief Justice Malik Shahzad Ahmad Khan visits Rawalpindi ..
ATC extends interim bail of PTI founder in 3 cases
More Stories From Miscellaneous
-
Waste Management – A persistent challenge for MWMC
24 hours ago -
Experts for ending child labour
3 days ago -
Labour Day - A reminder for better facilities to workers
3 days ago -
Stage Drama Mohabati Manhoon presents in Arts council Larkana
5 days ago -
Wheat farmers in a fix on price, procurement mechanism
6 days ago -
Modern tools to help transform crime investigation procedures
6 days ago
-
Sanam Marvi captivates audience with mesmerizing performance
7 days ago -
Modern Education Techniques: A pathway to achieve economic development
8 days ago -
Kite Flying: From cultural festival to deadly sport
8 days ago -
PDMA predicts gusty wind, rain with thunder, hails
11 days ago -
Iranian president Raisi given guard of honour at PM House
12 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
12 days ago