G20 Summit Reaffirm Energy Security, Commitment to Collective Action

G20 leaders summit, at its current session, in Italy confirmed building on the qualitative initiatives adopted, under the Kingdom’s presidency of the group, in 2020, especially those related to the energy sector, such as adopting the circular carbon economy approach, emphasizing energy security to achieve economic development, and commitment to work in collective action to reduce the effects of climate change and renewed commitment to provide facilities for the least developed countries, to use clean fuels to provide food, Prince-minister of energy Abdulaziz bin Salman bin Abdulaziz.

On the occasion of the Kingdom’s participation in the group’s summit, in Italy, the Prince-minister said in a statement announced by SPA, that the discussions of the energy ministers focused on three main them: Smart, flexible and sustainable cities, recovery and opportunities offered by innovative technological energy solutions, and financial flows compatible with the Paris Agreement.

And that the current session focused on the significance of a commitment to collective action to reduce the effects of climate change, by promoting the full and effective implementation of the Paris Agreement, by all parties, a commitment to deploy and implement nature-based solutions or an ecosystem-based approach, in and around cities, and stressing the importance of providing affordable energy cost for all, based on the initiative of the G20, and what was agreed, upon during the Kingdom’s presidency of the G20, in 2020.

It is important for everyone to understand that the world needs various sources of energy, indicating that there are three basic pillars on which the energy sector depends, and everyone who works, in this sector, or has anything to do with it knows them, he elaborated.

The first of these pillars is energy security, the second is economic development that ensures the well-being of peoples, and the third of which is addressing the challenges of climate change, which requires that all these pillars be taken into account together, without prejudice to one for the other, whatever the circumstances, he explained.

Emphasizing the essential role played by the Kingdom, within the framework of the G20, whether in the field of energy and confronting climate change, or other fields, he pointed out that that role is appreciated by the countries of the group, especially for what they see on the ground of seriousness.

The Kingdom is in the pursuit of the comprehensive sustainable development process, which was launched with the announcement of “Vision 2030”, and they realize the Kingdom’s insistence on fulfilling all goals, and to achieve all that is good for the Kingdom, the countries of the group, and the countries of the world, at large, the Prince-minister of energy concluded.