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Saudi Arabia aims for carbon neutrality by 2060

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Ahead of COP 26 in Scotland, Crown Prince Mohammed bin Salmane said Saudi Arabia plans to reach carbon neutrality by 2060. The country is the world’s largest oil exporter.

saudi arabia carbon neutrality 2060

Saudi Arabia, one of the world’s largest polluters, has also committed to reducing global methane emissions by 30% by 2030.

Approximately 130 countries set or are considering a goal of reducing greenhouse gas emissions to a zero level by 2050. The United Nations described it as an “imperative” to preserve a livable climate.

During a speech at the Saudi Green Initiative forum, Mohammed bin Salmane announced Saudi Arabia’s goal of zero emissions by 2060 through “a circular carbon economy strategy”. This scheme aims to increase resource efficiency and decrease environmental impact.

“I am pleased to announce initiatives designed to reduce carbon emissions by 278 million tons per year by 2030,”. “Which is more than double the previously announced target of 130 million tons”.

At the international conference on climate in Glasgow, Scotland, UN Secretary General Antonio Guterres warns that the current climate situation was “a one-way ticket to disaster”.

The COP 26 will be held from October 31 to November 12. Global goals for reducing carbon emissions and combating global warming will be determined.

In March, Riyadh announced a major campaign to reduce its emissions, including plans to plant billions of trees.

Saudi Arabia emits around 600 million tons of CO2 per year. This is more than France, but slightly less than Germany (800 million tons). At the very least, Riyadh’s 2060 target appears to be farther away than dozens of other countries’ 2050 targets.

“New protected areas”.

According to statements made at the time by Saudi Prince Mohammed bin Salmane, Saudi Arabia also aims to produce half of its energy from renewable sources by 2030.

As a first step, the crown prince said his country will plant more than 450 million trees and rehabilitate eight million hectares of degraded land.

The Arabian Peninsula uses oil and gas to supply its own rapidly growing electricity demands and to desalinate its water. It requires enormous amounts of oil every day.

For MetaNews.

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Jonathan Hobbs

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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