The emission of climate-damaging CO2 should be reduced annually by 278 million tons by 2030. Investments totaling 160 billion euros are planned for investments related to the climate.
Climate-neutral means that no additional greenhouse gases enter the atmosphere that would accelerate the global warming process. The emission of carbon dioxide, for example, can be compensated for elsewhere. The announcement of Saudi Arabia comes a week before the world climate conference COP26 in Glasgow, Scotland.
The new target is unlikely to change the status of Saudi Arabia as one of the largest producers of crude oil and as a leading oil exporter. “The kingdom as one of the leading oil producers is fully aware of its part of the responsibility in the fight against the climate crisis,” it said in a SPA report on Saturday.
As part of the new initiative, ten billion trees are to be planted in the desert state over the next 20 years, and according to media reports, up to 50 billion trees in the region. First of all, 450 million trees should be planted in Saudi Arabia as part of the so-called Saudi Green Initiative, said Crown Prince Mohammed.