HRH the Crown Prince launches series of regional initiatives

HRH the Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has today announced a series of regional programs for climate action to an audience of dozens of heads of state from across the MENA region at the Middle East Green Initiative Summit in Riyadh.

Speaking during the event, HRH the Crown Prince said: “The Kingdom of Saudi Arabia believes that traditional energy sources were the primary reason for the transformation underwent by the regional and global countries from traditional agricultural economies to globally active economies and the catalyst towards the fastest economic growth ever known to mankind.

“Today, we are ushering in a new green era for the region; in which we are collectively leading and reaping its fruits, in our joint belief that the effects of climate change are not limited to the natural environment only, but also to the economy and security of our nations.

“Despite that, we believe that climate change is an economic opportunity for our citizens and the private sector, which, stimulated by the Middle East Green Initiative, will create quality jobs and encourage innovation in the region.”

The centers and programs revealed today at Middle East Green Initiative – which will have a significant role in creating the infrastructure necessary to protect the environment, reduce emissions and raise regional coordination – include:

  • Co-operative Platform to accelerate the implementation of the Circular Carbon Economy (CCE)
  • Regional Hub for Climate Change
  • Global Center for Carbon Extraction Use and Storage
  • Regional Center for Early Storm Warning
  • Regional Center for Sustainable Development of Fisheries
  • Regional Cloud Seeding Program
  • Regional Investment Fund for the Circular Carbon Economy (CCE)

The Kingdom announced a regional initiative providing clean energy sources for cooking to more than 750 million people worldwide and establishing a fund for investment in sustainable technology solutions in the region. The total investment in these two initiatives is approximately 39 billion riyals and the Kingdom will contribute to financing approximately 15% of this total.

The summit called for intensifying coordination and joint action to preserve and develop the importance of the environment and vegetation cover in Africa, in addition to establishing the Green Initiative Foundation as an independent non-profit entity to support the summit and raise the level of coordination.

High-level attendees at the Middle East Green Summit include Prime Minister of the Islamic Republic of Pakistan Imran Khan, Prime Minister of the Republic of Tunisia Najla Bouden, Prime Minister of the Kingdom of Morocco Aziz Akhannouch, Prime Minister of the Hellenic Republic Kyriakos Mitsotakis, President of the Libyan Presidential Council H.E. Mohamed Younis Menfi, Crown Prince and Prime Minister of the Kingdom of Bahrain His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince of the State of Kuwait Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, Crown Prince of the Hashemite Kingdom of Jordan His Royal Highness Al Hussein bin Abdullah II, Amir of the State of Qatar His Highness Sheikh Tamim Bin Hamad Al Thani and HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister of the UAE and Minister of Finance.

It comes after HRH the Crown Prince announced on Saturday that Saudi Arabia is aiming to achieve net zero emissions by 2060 through the Carbon Circular Economy approach. This is based on the Kingdom’s critical role in confronting shared international issues, its belief in the need for collaborative efforts to confront climate change and the necessity of the green transformation to deliver social and economic prosperity to the Kingdom.

The Middle East Green Initiative Summit convenes international and regional leaders to motivate consensus to deliver against shared environmental commitments. Springboarding from the national climate commitments enshrined in the Saudi Green Initiative, the Kingdom will work with its neighbors to combat climate change beyond its borders through collective action.

Key speakers at the Middle East Green Summit in Riyadh on Monday October 25 include:

  • H.R.H. Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince of the Kingdom of Saudi Arabia
  • John Kerry, Special Presidential Envoy for Climate, United States
  • Amina Mohammed, Deputy Secretary, United Nations
  • Larry Fink, Chairman and CEO, BlackRock, United States
  • Noel Quinn, Group Chief Executive, HSBC, United Kingdom
  • André Esteves, Senior Partner, BTG Pactual , Brazil