Saudi Arabia pledges to reach net-zero greenhouse gas emissions by 2060

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Saudi Arabia, one of the world’s largest oil producers, announced on Saturday that it aims to reach “net zero” greenhouse gas emissions by 2060, in a Granthshala effort to try and halt man-made climate change in more than 100 countries. To join.

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Although the kingdom will aim to reduce emissions within its borders, there is no indication that Saudi Arabia will slow investment in oil and gas or give up control of energy markets by moving away from fossil fuel production. Energy exports remain the backbone of Saudi Arabia’s economy, despite efforts to diversify revenues, as the world increasingly looks to transition away from reliance on fossil fuels. This year alone, the country is expected to get $150 billion in revenue from oil.

The announcement, made by Crown Prince Mohammed bin Salman in written remarks at the start of the kingdom’s first Saudi Green Initiative Forum, was meant to make a splash ahead of the start of the Granthshala COP26 climate conference to be held in Glasgow, Scotland. The prince vowed that Saudi Arabia would plant 450 million trees and rehabilitate the vast land by 2030, reduce 200 million tons of carbon emissions and attempt to transform the landlocked city of Riyadh into a more sustainable capital.

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The state joins the ranks of Russia and China on their net-zero target date of 2060. The United States and the European Union have set a target of 2050.

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In making the announcement, analysts say the state ensures its continued seat at the table in Granthshala climate change negotiations. Saudi Arabia has pushed back against those who say fossil fuels should be phased out immediately, warning that a premature switch could lead to volatility and lower prices. Recently leaked documents show how states and other nations are lobbying behind the scenes ahead of the COP26 summit to change the language around emissions.

In transitioning domestically, the state can also take oil and gas that it subsidizes locally and allocate it as more lucrative exports to China and India, where demand is expected to increase in the coming years.

“The state’s economic growth is driven by the export of its energy sources. This is not a state secret,” Saudi Energy Minister Prince Abdulaziz bin Salman said on stage in Riyadh.

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Saudi Arabia says it will reach net-zero through a so-called “carbon circular economy” approach, which advocates “reduce, reuse, recycle and remove”. It is an unpopular strategy among climate change activists because it still uses unreliable carbon capture and storage techniques rather than phasing out fossil fuels.

The announcement provided few details about how the state would cut its emissions in the short and medium term, including when it would peak its emissions. Experts say sharp cuts are needed around the world as soon as possible to ensure that the world has a chance to limit Granthshala warming to 1.5 °C (2.7 °F) as agreed in the 2015 Paris Agreement.

The state _ home to about 17% of proven petroleum reserves _ supplies about 10% of Granthshala oil demand. As a heavyweight of OPEC, Saudi Arabia wields tremendous influence over energy markets and could pressure other producers to line up, as seen last year when the kingdom began a price war that successfully ceded Russia. It was found to curb its production amid a slowdown in demand from the pandemic.

Saudi Arabia said the transition to net zero carbon emissions “will be delivered in a way that maintains the kingdom’s leading role in enhancing the security and stability of Granthshala energy markets.”

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Gulf oil producers have argued for a rapid phasing out of fossil fuels, saying a hasty change would hurt low-income countries and populations that do not have access to basic energy. Saudi Arabia also advocates language that refers to greenhouse gases, a basket that includes more than just fossil fuels.

Prince Abdulaziz said of the Granthshala energy transition, “We believe that carbon capture, use and storage, direct air capture, hydrogen and low-carbon fuels are the things that will really develop the materials needed to ensure that this effort will be inclusive.”

Earlier this month, the United Arab Emirates _ another major Gulf Arab energy producer _ announced that it too would join the “net zero” club of nations by 2050. The United Arab Emirates, home of the region’s first nuclear power plant, did not make a specific announcement on how it would reach this goal.

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Leaked documents, first reported by the BBC, show how Saudi Arabia and other countries, including Australia, Brazil and Japan, are apparently downplaying the UN science panel’s upcoming report on Granthshala warming ahead of the COP26 summit. are trying. Greenpeace, which obtained the leaked documents, said Saudi Arabia is enabling countries to burn fossil fuels by advancing carbon capture technology. The group says these “as yet unproven technologies” will allow nations to emit more greenhouse gases on the optimistic assumption that they can take them out of the atmosphere later.

Fossil fuels, such as crude oil, natural gas and coal, currently account for the bulk of Granthshala energy consumption. Only 10% of electricity is generated from solar power and wind.

On Saturday, Prince Abdulaziz said every country’s approach to cutting emissions would look different.

“No one has to be too factual about what equipment everyone will have in the kit,” he said. “But if your kits and your equipment in the mine lead to emissions reductions, that is the question to ask and that is the purpose,” he said.

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Britain’s Prince Charles was also among those who took part in the Riyadh Forum. In virtual observations, he described how the temperature of the Middle East is also rising, threatening the region’s ability to live.

President Joe Biden’s climate envoy, John Kerry, is expected to be in Riyadh on Sunday and Monday, where he will meet with officials and…

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