As the ultimate petrostate, Saudi Arabia’s announcement this past week that it has set a target of reaching net-zero by 2060 is a watershed moment. Oil is central to the economy of the kingdom, which as well as being the world’s second largest oil exporter (MEES, 8 October) is also one of the top ten global consumers.
Saudi Arabia’s net zero pledge was unveiled at the Saudi Green Initiative Forum (SGI) in Riyadh over the weekend. Crown Prince Muhammad bin Salman told the event that “The Kingdom of Saudi Arabia aims to reach zero-net emissions by 2060 under its circular carbon economy program in accordance with the kingdom’s development plan.” (CONTINUED - 1193 WORDS)
