Saudi climate chief says on track to meet net-zero pledge by 2060

REUTERS/Bruno Kell

Saudi Arabia will meet its net-zero pledge by 2060, although global technologies have not fully “matured”, Arab News reported, citing Saudi chief climate change negotiator Khalid Abuleif.

He said that the kingdom is in a great position to meet the short- and long-term goals of 2030 and 2060.

Abuleif stated that the country could achieve its goals in advance if the technologies could mature early.

“Saudi Arabia is investing heavily to make these technologies ready earlier, through two major initiatives,” the official said, referring to the Saudi Green Initiative and the Middle East Green Initiative.

The kingdom hosted the second editions of the Saudi and Middle East Green Initiative summits on the sidelines of Cop27, showcasing programs and initiatives launched and implemented to promote circular carbon economy, wildlife rehabilitation and sustainability.

In October, oil major Saudi Aramco announced the creation of a $1.5 billion Sustainability Fund to invest in technology to support energy transition.

The largest sustainability-focused venture capital fund globally plans to invest in technologies that support the company’s announced net-zero 2050 ambition in its wholly-owned operational assets and develop new lower-carbon fuels.