Saudi Arabia aims to reach Net Zero carbon emissions in 2060
RIYADH, 23rd October 2021 HRH Prince Abdulaziz bin Salman bin Abdulaziz, Saudi Minister of Energy, announced that the Kingdom’s goal is to reach Net Zero carbon emissions by 2060, taking into account that this will not have an adverse financial or economic impact on oil exporters.
In the first dialogue session of the Saudi Green Initiative (SGI) Forum, entitled “A New Phase in the Kingdom’s Transformation”, the minister stressed that what is happening in the Kingdom is a collective work in which previous and future generations participate in.
He also said, “What you see is not just my work and the work of my generation, or the generations that preceded me or the generations that you will come after me, it is everyone’s work, and I am empowered by supporting young men and women who have a vision, and they are the owners of this vision “Vision 2030”.
Saudi Press Agency (SPA) quoted the minister as saying that by 2030, Saudi Arabia will be a model for the production of all energy sources and the best in terms of energy efficiency, highlighting the Kingdom’s efforts to make the share of gas and renewable energy in the energy mix 50% for each of them by 2030, indicating that shale gas in the Kingdom will contribute in providing 50% of energy, while the remainder comes from renewable sources, stressing that this balance will reduce carbon emissions.
The Kingdom would provide a package of initiatives established in the Carbon Circular Economy approach, which will contribute to renewing the energy mix and reducing Net Zero carbon emissions by 2060, the minister indicated, citing an announcement by His Royal Highness the Crown Prince earlier today.
The Kingdom will join the Global Methane Pledge, which aims to reduce methane emissions globally by 30% compared to the level of emissions in 2020, stressing that this comes within the framework of the goals of the Saudi Green Initiative to expand the scope of climate action in the Kingdom, as reducing methane emissions will contribute to enhancing public health and agricultural productivity.
The minister of energy announced that the Kingdom’s smart meter program has installed 127,000 units per day, and the entire project will be completed within two months.
Prince Abdulaziz said, “We, in the Kingdom, are proud that we have a record of achievements in terms of reducing costs and producing energy, and we look forward to greater records because the Kingdom’s ecosystem, which is being developed to adopt more investments and innovations allows stronger competition and improves the goal and benefits for all.
He also indicated that Saudi Arabia has energy efficiency programs, proved successful for more than ten years and so far it has reduced 48 million tons of carbon emissions annually, in addition to planning to reduce an additional nine million tons by focusing on three sectors: industry, transportation and construction as they represent 90% of the Kingdom’s energy consumption.
In addition, he pointed out that on February 2020, the Kingdom launched a smart program for agriculture without a single day of delay, and the Kingdom has smart metrics, with the exception of 6,500 customers.