Saudi Arabia and the World Economic Forum’s (WEF) innovation platform UpLink signed two agreements to catalyze innovative global solutions to today’s most pressing environmental and sustainability challenges.
Signed on the sidelines of the World Economic Forum Annual Meeting 2024 in Davos, the agreements aim to foster innovation ecosystems around early-stage impact entrepreneurs to stimulate investments and support breakthrough solutions that address critical sustainable development challenges, including ocean degradation, biodiversity loss, and the circular carbon economy.
Saudi Arabia’s Minister of Economy and Planning Faisal al-Ibrahim and WEF President Børge Brende signed the agreements on the sidelines of the Davos 2024 annual meetings. The deals focus on “Catalyzing Innovation for an Ocean Positive Economy” and “Catalyzing Innovation for a Positive Circular Carbon Economy (CCE).”
Ibrahim announced that Saudi Arabia is determined to meet this moment of deepening climate and sustainable development challenges with responsible environmental stewardship and driving transformative investments in breakthrough, innovative, and scalable technological solutions.
He explained that by expanding the collaboration with UpLink, Saudi Arabia is doubling its commitment to supporting climate-positive solutions that can help build a sustainable and resilient resource future.
The Kingdom aims to enhance investments and technical innovations to meet the challenges of sustainable development and support early-stage entrepreneurs. The Ministry of Economy and Planning is working in collaboration with the Ministry of Energy, the Ministry of Environment, Water and Agriculture, the Saudi Green Initiative, and the WAVE Initiative.
Head of UpLink John Dutton stated that the world is facing a climate crisis that requires urgent and joint action, highlighting the urgency of addressing the climate emergency, and underscoring the importance of rapid, coordinated action.
Innovative solutions from early-stage entrepreneurs are crucial for realizing the Sustainable Development Goals.
Dutton pointed out that UpLink, in partnership with global collaborators, is developing a supportive ecosystem for these entrepreneurs, providing vital resources, exposure, expertise, and funding.
The enhanced partnership between UpLink and Saudi Arabia demonstrates the transformative impact of innovation and collaboration.
The second agreement aims to encourage and support innovations that accelerate the growth of the circular economy and contribute to reducing waste and carbon dioxide emissions to preserve the planet.
The platform also provides an ideal path for many cooperation projects between the public and private sectors, innovators, and investors to find global solutions to environmental challenges that can be applied on broader scales.
