Kingdom Vision 2030, Built on Sustainability, Energy Sparing -Al-Jadaan Reiterates

Minister of Finance Mohammed bin Abdullah Al-Jadaan reaffirmed that the Kingdom, as a member state of the G20, and a largest oil producer-cum exporter, plays a crucial role in providing energy to the world, noting that the Kingdom’s Vision 2030 is built on sustainability.

This came during his participation in the session “Innovating Financing Mechanisms for Green Transformation: A New Perspective for the Typical Business Pattern”, within the sessions of the “Green Saudi Arabia Initiative” forum.

Finance the environment is very important because we are working on climate change and we want to stimulate all efforts, not only at the local level, but also at the regional and international levels, to confront climate change, he added.

Al-Jadaan indicated that the “Green Saudi Arabia” initiative aims to reach a net zero carbon emission by 2060, pointing out that during the period 2015-2019, the Kingdom reduced carbon gases by 3%, and achieved double what it achieved in previous years, regarding environmental initiatives, as well as investing tens of billions, in the field of gas extraction.

We are working with the World Bank and international institutions and organizations to protect the environment and limit climate change fallouts, to enhance energy, and work to provide sustainable and clean energy to achieve the required goals, in accordance with the Paris Agreement, he elaborated.

It is noteworthy that the session discussed the extent of the finance sector’s readiness to the challenge of climate change, how to develop investment measures to stimulate the green transformation and the prevailing orientation for it, in the finance sector, financing models and standards and new methods of cooperation among stakeholders..