His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy and Minister of Energy of Saudi Arabia, announced that the Kingdom’s goal is to reach zero carbon emissions by 2060, taking into account that this will not have an adverse financial or economic impact on oil exporters.
In the first dialogue session of the Saudi Green Initiative Forum, titled “A New Phase in the Kingdom’s Transformation”, His Highness stressed that what is happening in the Kingdom is a collective work in which previous and future generations participate. “What you see is not my work and the work of my generation, or the generations that preceded me or the generations that You will only come after me, it is everyone’s business, and I am empowered by supporting young men and women who have a vision, and they are the owners of this vision “Vision 2030”.
His Highness stated that by 2030, Saudi Arabia will be a model for the production of all energy sources and the best in terms of energy efficiency, highlighting the Kingdom’s efforts to make the share of gas and renewable energy in the energy mix 50% for each of them by 2030, indicating that shale gas in the Kingdom will contribute to providing 50% of energy, while the rest is from renewable sources, stressing that this equilibrium will reduce carbon emissions
His Highness indicated that the Kingdom will present a set of initiatives rooted in the circular carbon economy approach, which will contribute to renewing the energy mix and reducing zero carbon emissions by 2060 AD, announced by His Highness the Crown Prince today, and the Kingdom will join the global pledge on methane to reduce global emissions by 30% % compared to the level of emissions in 2020, stressing that this comes within the framework of the objectives of the Green Saudi Initiative to expand the scope of climate action in the Kingdom, as reducing methane emissions will contribute to enhancing public health and agricultural productivity.
His Highness the Minister of Energy announced that the Kingdom’s smart meter program has installed 127,000 units per day, and the entire project will be completed within two months.
He said, “We are proud in the Kingdom that we have a record of achievement in terms of reducing costs and producing energy, and we look forward to greater records because the Kingdom’s ecosystem, which is being developed to incubate more investments and innovations, is an incubator that allows stronger competition and improves the goal and gains for all.” It has energy efficiency programs and has been successful for more than ten years and so far it has reduced 48 million tons of carbon emissions annually, in addition to planning to reduce an additional nine million tons by focusing on three sectors: industry, transportation and construction because they constitute ninety percent of the Kingdom’s energy consumption.
He pointed out that in February 2020, the Kingdom launched a smart program for agriculture without a single day of delay, and the Kingdom has smart measures, with the exception of 6,500 customers.
Why aim for 2060 for net zero? A 2060 target “will enable us to have a smooth and viable transition, without risking economic or social impacts,” says HRH Prince Abdulaziz bin Salman. #SGIForum pic.twitter.com/8eM8Q3hJSQ
— Saudi Green Initiative (@Gi_Saudi) October 23, 2021