Saturday, 04 December 2021

Saudi Arabia aims of net-zero emissions by 2060

Saudi Arabia aims of net-zero emissions by 2060

On Saturday, Saudi Arabia announced that one of the world’s largest oil producers aims to reach “net zero” greenhouse gases emissions by 2060, joining more than 100 countries in a global effort to try and curb artificial climate changes.

The announcement, made by Mohammed bin Salman in brief scripted mention at the start of the kingdom’s first-ever Green Initiative Forum from Saudi, was timed to make a splash a little more than a week before the beginning of the global COP26 climate conference held in Glasgow.

While the kingdom will aim to reduce its emissions, Prince Mohammed said it would do so through a so-called “Carbon Circular Economic” approach. The approach focuses on still unreliable carbon capture and storage technologies over efforts to reduce global dependency on fossil fuels. The announcement only exists to Saudi Arabia’s efforts within national borders and does not impact its continued offensive investment in oil and exporting its fossil fuels to Asia and other regions.

Saudi Arabia commits to net zero emissions by 2060 1unsplash image

Read More: More than 130 countries reach a deal on 15% corporate minimum tax

Saudi Green Initiative forum said in a statement.

“The transition to net zero net-zero emissions will be delivered in a manner that maintain the kingdom’s leading role in enhancing the stability and security of global energy markets, Particularly considering the availability and maturity of technologies necessary to manage and reduce emissions,”

Despite efforts to diversify away from dependency on fossil fuels for revenue, the kingdom’s gas and oil exports form the mainstay of its economy.

The global summit COP26 starting 31st Oct will draw heads of state from across the world to tackle and try worldwide warming and its challenges. It is described as “the world’s last best chance ” to prevent global warming from reaching dangerous levels. The summit is expecting to see a blow of new commitments from businesses and governments to reduce greenhouse gas emissions.

Saudi Arabia has pushed against the recommendation that fossil fuels be urgently phasing out of the energy sector. Instead, the kingdom is touting, thus enabling nations to continue burning fossil fuels by sucking the resulting emissions out of the atmosphere, according to Greenpeace, which obtained the documents.

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