Crown Prince opens MGI summit in Egypt – Saudi Gazette

Crown Prince opens MGI summit in Egypt – Saudi Gazette

Saudi Gazette report

SHARM EL SHEIKH — Crown Prince and Prime Minister Mohammed Bin Salman opened the second edition of the Middle East Green Initiative (MGI) Summit on Monday in Egypt.

The summit, which is being held in conjunction with the COP27 was co-hosted by President Abdel Fattah El-Sisi of Egypt.

In his opening remarks, Prince Mohammed said that the MGI ambitious goals require regional cooperation and effective contributions from member states to contribute to achieving climate goals.

He announced that Saudi Arabia will host the headquarters of the Middle East Green Initiative.

"We seek to make renewable energy account for 50 percent of our energy consumption in 2030."

"The Kingdom aims to find solutions in order to provide more sustainable energy systems," Prince Mohammed said.

He announced that the Public Investment Fund (PIF) aims to reach zero greenhouse gas emissions by 2050 through the circular carbon economy approach.

In October 2021, the Crown Prince held the inaugural MGI Summit in Riyadh. Leaders from more than 20 nations participated in the summit's first-ever regional climate dialogue, which made it clear that cooperation and coordination are required to tackle climate change.

The MGI Summit lays out an ambitious and clear plan for regional climate action, assuring coordinated efforts and a