Saudi Arabia Outlines Plans Under Middle East Green Initiative :
Saudi Arabia Outlines Plans Under Middle East Green Initiative
Since climate change is getting more severe day by day and changing the average weather patterns on a long-term basis, Saudi Arabia is making significant efforts to fight against it. The Saudi kingdom has invested heavily in green initiatives that will strengthen its international relations with other countries. Further, the Saudi Green Initiative will create opportunities for jobs to support the next generation and will provide the private sector with massive investment opportunities.
Saudi Arabia has outlined plans for the Middle East Green Initiative that is aimed at achieving zero net emissions and improving quality of life. MGI strives to overcome climate crises through strengthened regional collaboration and innovative engineering solutions. Read further to learn about Saudi Arabia’s plans for championing green initiatives and climate action.
Saudi Arabia Plans The Mideast Green Initiative Worth $10.4 Billions
On October 25, Saudi Crown Prince Mohammed bin Salman gave a speech in which he talked about the Middle East green initiative aimed at reducing carbon emissions at the regional level. The MGI initiative, which includes a clean energy project, will require an immense investment fund of 39 billion riyals ($10.4 billion). Further, he said, 15% of the contribution to the investment funds will be granted by the kingdom. In addition, efforts will be made to work with other states on the budget allocation and implementation of the green initiatives.
Developing A Carbon Circular Economy
Saudi’s crown prince shared his opinion on developing a carbon circular economy to reduce the carbon footprint of the middle east region. For this purpose, an investment fund will be established. The carbon circular economy is built on a framework that minimizes toxic emissions for polluting the environment. The framework is based on four pillars: reduce, reuse, recycle, and remove. The Saudi economy has adopted the framework of a carbon circular economy to reduce its carbon footprint.
Outlining A Regional Roadmap Toward Achieving Net-Zero Emissions By 2060
The Saudi government has pushed toward improving the lives of people by feeding more than 750 million people globally and providing renewable energy solutions with the Middle East green initiative. Further, the kingdom outlines its plans to become the cheapest producer of hydrogen. With the help of this initiative, billions of trees will be planted to reverse desertification. In addition, 60% of carbon emissions will be reduced in the hydrocarbon industry of the Middle East region.
Building An Infrastructure To Reduce Emissions And Increase Food Security
By 2060, Saudi Arabia will be turned into a carbon neutrality kingdom by eradicating toxic emissions from the country. Environmental change has been viewed as the most crucial reason for food insecurity. Moreover, food security is greatly influenced by the rising population, changing weather conditions, and water availability. The Gulf states will actively emphasize food security, especially those states that heavily rely on imports.