Major oil producer Saudi Arabia announces net-zero by 2060

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Major oil producer Saudi Arabia announces net-zero by 2060

DUBAI, United Arab Emirates (AP) – Saudi Arabia, one of the world’s largest oil producers, announced on Saturday that it would achieve “net zero” greenhouse gas emissions by 2060 – climate change made.

The announcement, which Crown Prince Mohammed bin Salman made in brief written remarks at the start of the Kingdom’s first-ever Saudi Green Initiative Forum, was set to cause a sensation just over a week before the start of the COP26 global climate conference in Glasgow, Scotland.

Although the kingdom will seek to reduce its emissions, Prince Mohammed said the kingdom would do so through what is known as a “carbon circular economy” approach. This approach focuses on still unreliable carbon capture and storage technologies versus efforts to actually reduce global dependence on fossil fuels. The announcement relates only to Saudi Arabia’s efforts within its national borders and does not affect its continued aggressive investments in oil and the export of its fossil fuels to Asia and other regions.

“The transition to net zero carbon emissions will be carried out in such a way as to preserve the leading role of the kingdom in improving the security and stability of global energy markets, particularly given the maturity and availability of the technologies necessary for management and reduction of emissions are required, ”the Saudi Green Initiative Forum said in a statement from Das.

The kingdom’s oil and gas exports form the backbone of its economy, despite efforts to break away from reliance on fossil fuels for revenue.

The COP26 global summit, starting October 31, will bring together leaders from around the world to try to address global warming and its challenges. It is described as “the world’s last best chance” to prevent global warming from reaching dangerous levels. The summit is expected to contain a spate of new commitments from governments and businesses to reduce their greenhouse gas emissions.

Leaked documents, first reported by the BBC, surfaced Thursday showing what Saudi Arabia and other countries including Australia, Brazil and Japan are like apparently trying to water down an upcoming UN Scientific Panel report on global warming. The documents allegedly are evidence of how some governments’ public support for climate protection is being undermined by their behind-closed-door efforts.

Saudi Arabia has rejected the recommendation to urgently ban fossil fuels from the energy sector. Instead, the kingdom is touting and allowing nations to continue burning fossil fuels by sucking the resulting emissions from the atmosphere. according to Greenpeacewho received the documents.

The kingdom is repeatedly attempting to erase any references to the need to phase out fossil fuels from the report’s authors, as well as the panel’s conclusion that, according to the leaked documents, “urgent and accelerated mitigation measures of all sizes are needed”

Earlier this month, the United Arab Emirates – another major Arab energy producer in the Gulf – also announced that it would join the “net zero” club of nations with the aim of achieving net zero emissions by 2050.

The UAE did not provide details on how it will achieve this goal, but said its Department for Climate Change and Environment will work with energy, economy, industry, infrastructure, transport, waste, agriculture and other sectors on strategies and Government policies work to reach net zero by 2050.

The UAE claims to be home to three of the largest solar systems in the world and is the first country in the Middle East to use nuclear power.

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