Saudi Arabia Pledges More Than $1 Billion In New Climate Initiatives
NDTV
"Today we are initiating a green era for the area, believing that these changes are not only for the environment but also for the economy and security," Crown Prince Mohammed bin Salman said at the Middle East Green Initiative Summit in Riyadh.
Saudi Arabia's de facto ruler pledged more than $1 billion for new global environmental initiatives on Monday, taking further steps to bolster the green credentials of the world's top oil exporter.
Two days after targeting carbon neutrality by 2060, and ahead of next week's COP26 global climate change summit, Crown Prince Mohammed bin Salman announced two initiatives to fund the "circular carbon economy" and provide "clean fuel" to help feed 750 million people worldwide.
The two initiatives were targeted to cost 39 billion riyals ($10.4 billion). Saudi Arabia will contribute 15 percent and seek the remainder from regional funds and other countries, Prince Mohammed said.
"Today we are initiating a green era for the area, believing that these changes are not only for the environment but also for the economy and security," he told heads of state and other senior officials at the Middle East Green Initiative Summit in Riyadh.
