Saudi Arabia’s Minister of Energy believes the Kingdom might reach its net carbon zero target ahead of the 2060 mark unveiled by the Crown Prince Mohammed bin Salman during the Saudi Green Initiative Forum in Riyadh.
Speaking at the same event on Saturday, Prince Abdulaziz bin Salman said most technologies to help the environment will mature by 2040, meaning the Kingdom could reach its emission reduction goal earlier than planned.
Carbon reduction efforts, including investing in renewable energy and the circular economy, will help the Kingdom reach net zero, the energy minister said, adding that Saudi Arabia does not only want to achieve ambitious environmental goals, but wants to be an example for others.
“The Kingdom is not seeking financial support or grants to achieve this NDC [Nationally Determined Contribution] and it will use the best suited technology to do so,” the minister stressed.
Using the Circular Carbon Economy (CCE) strategy, a clear structure of milestones and key performance indicators will be put in place for the entire country to be held accountable for the goals.
“We can shift our energy mix by using 50 percent in empowering the power sector and all utilities, [therefore] 50 percent will be done on renewables and the other 50 percent will be the development of more gas. That 50/50 will be a major component in that reduction we have discussed,” he stated.
The renewable investment opportunities created in the Kingdom, such as the energy efficiency program that has been active for over 10 years, has already reduced annual CO2 emissions by 48 million tons.
There are now plans to reduce such outputs even further, reducing carbon emissions by more than 90 million tons a year — with a focus on the industry, transportation and building sectors.
Cement, steel, petrochemical, heating and cooling, and fuel efficient transportation will be the focus of these initiatives in achieving the net zero goal.
“In February 2020 we launched our smart meter program and in the midst of all the lockdowns, we were plugging 100,000 smart meters a day in this country. The whole project was conducted by March 30 2021,” bin Salman said., talking up steps the country has already taken.
Smart meters enable consumers to manage their own system in their homes to ensure efficient electricity consumption.
The minister also stated that all street lamps and bulbs in Saudi Arabia have already been replaced with more efficient LED lights.
Inclusivity and a holistic approach was also another topic highlighted by the minister, and he said: “Inclusivity is important, making these new technologies available to those who can afford it and those who cannot will help to mitigate emissions.”
“International cooperation in research and developing technologies and deploying technologies has to happen,” the minister added, as he hinted about an announcement on Monday regarding advanced energy technologies.