KSA takes lead in $250bn climate change drive

SourceArab News
SectorOil & Gas
CountrySaudi Arabia

DUBAI: Saudi Arabia has committed to play a key role in the development of renewable fuel sources and clean energy technology. The Kingdom will join a core group of 23 nations and international bodies that signed up for an initiative called Mission Innovation 2.0 during an event in the Chilean capital Santiago. The group is expected to inject $250 billion of investment into renewable energy innovation over the next decade.

Saudi Energy Minister Prince Abdul Aziz bin Salman told the virtual event: “Saudi Arabia is committed to promote technologies and solutions that address greenhouse gas emissions under the Circular Carbon Economy platform through accelerating research, development, deployment and dissemination of such technology.” The pledge is just the latest Saudi move into the key area of renewables and technology in the campaign to achieve climate change targets under the Paris Agreement. Earlier this year, the Kingdom announced its “Saudi Green” plan, under which 50 percent of domestic energy would be...read more...