A Tightrope Saudi Walk Towards Net-Zero

A Tightrope Saudi Walk Towards Net-Zero

Arabian Post Special The Kingdom of Saudi Arabia, a nation synonymous with oil, has made a bold move towards environmental sustainability with the launch of its Green Finance Framework. This initiative aims to mobilize investments to propel the country towards its ambitious target of achieving net-zero emissions by 2060. However, this path is fraught with challenges as the nation grapples with the inherent conflict between its dependence […]

via A Tightrope Saudi Walk Towards Net-ZeroArabian Post Special

The Kingdom of Saudi Arabia, a nation synonymous with oil, has made a bold move towards environmental sustainability with the launch of its Green Finance Framework. This initiative aims to mobilize investments to propel the country towards its ambitious target of achieving net-zero emissions by 2060. However, this path is fraught with challenges as the nation grapples with the inherent conflict between its dependence on fossil fuels and its green ambitions.

The Framework serves as a roadmap to attract and direct funds towards renewable energy, energy efficiency, clean transportation, and other environmentally friendly projects. This aligns with Saudi Arabia’s pledge under the Paris Agreement and its recently updated Nationally Determined Contribution, which outlines a significant reduction in greenhouse gas emissions by 2030.

However, the elephant in the