Saudi Arabia Among Largest Clean Energy Investors With Mega Climate Change Mitigation Projects

Saudi Arabia among largest clean energy investors with mega climate change mitigation projects

Rio de Janeiro, (APP - UrduPoint / Pakistan Point News - 14th Jun, 2024) The Minister of State for Foreign Affairs, Member of the Cabinet, and Envoy for Climate Affairs, Adel Al-Jubeir, has participated in a dialogue session during the FII PRIORITY Rio de Janeiro Summit, organized by the Future Investment Initiative (FII) Institute.

During the session in Rio de Janeiro in Brazil, Al-Jubeir highlighted Saudi Arabia's efforts in energy development, with the goal of becoming one of the world's largest energy suppliers in all its forms, including clean, renewable, and traditional energy.

He stated that petroleum will remain part of the energy sources for several decades, adding that the importance lies in producing energy from various sources efficiently and avoiding waste, in order to preserve the Earth's natural resources. Al Jubeir also confirmed that the Kingdom is one of the largest investors in clean energy and has massive projects aimed at mitigating the effects of climate change. Such projects include the nation's waste recycling program and clean and renewable energy projects, with one of the world's largest hydrogen projects being established in NEOM in the north of Saudi Arabia.

Al Jubeir highlighted the key features and targets of Saudi Vision 2030, with a focus on improving the quality of life, empowering youth, and attracting investments to achieve stability, growth, and prosperity in the Kingdom. Furthermore, he underlined the importance of convergence and communication among nations to enhance cooperation and stability and to address challenges, including those related to climate.

The minister noted that the Kingdom is intensifying its communication and convergence with the world, as it is located among three continents and surrounded by vital waterways. He also highlighted the nation as a significant player in the energy markets and a global investor.

He also mentioned the middle East Green Initiative as one of the Kingdom's prominent initiatives aimed at promoting international cooperation on climate issues.