Saudi Arabia signs up to net zero
Riyadh insists carbon neutrality is compatible with plans to raise oil and gas production
Crown Prince Mohammed bin Salman (MbS), Saudi Arabia’s de facto ruler, took to the stage at the inaugural Saudi Green Initiative summit in the Saudi capital of Riyadh to pledge his country would achieve carbon neutrality by 2060. Designed partly to curry favour with Washington and to polish the young royal’s heavily tarnished international reputation, the move’s symbolism was undoubtedly powerful and was welcomed by those pushing for stiffer commitments from other G20 states in the run-up to Cop26 climate change summit. Domestically, some of the shifts required will be radical. Globally, however, the practical impact will be minimal—the razzmatazz surrounding the proclamation serving also to
Also in this section
19 December 2024
The utility-scale battery energy storage system market is evolving rapidly, with diverse offtake models emerging to offer bespoke, flexible contracting solutions
13 December 2024
Prices in world’s largest compliance market have risen this year but remain below those seen in the EU
11 December 2024
Policymakers need to step up with a long-term, global strategy if the energy transition is ever to be a success
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions