Saudi Arabia Advances Climate Action at 2024 SGI Forum with $60 Million in New Funding

A night view of the Saudi capital, Riyadh. (SPA)
A night view of the Saudi capital, Riyadh. (SPA)
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Saudi Arabia Advances Climate Action at 2024 SGI Forum with $60 Million in New Funding

A night view of the Saudi capital, Riyadh. (SPA)
A night view of the Saudi capital, Riyadh. (SPA)

The fourth edition of the Saudi Green Initiative (SGI) Forum kicked off on Tuesday, coinciding with the 16th session of the United Nations Convention to Combat Desertification (UNCCD COP16) in Riyadh.

Held under the theme "Action is in our Nature," the first day of the 2024 SGI Forum witnessed the announcement of five new initiatives, valued at $60 million (SAR225 million), reinforcing Saudi Arabia's leading role in climate and environment efforts.

With total investment exceeding $188 billion (SAR705 billion), the 86 initiatives activated as part of SGI are delivering tangible progress towards the aims of all three Rio Conventions. The Saudi Green Initiative is a key vehicle to deliver Saudi Arabia's goal to create a greener future for all by reducing emissions, combating desertification and safeguarding natural ecosystems.

The Kingdom is advancing towards net zero by 2060, driven by the Circular Carbon Economy approach. Central to this effort is the Saudi Green Initiative's target to reduce emissions by 278 million tons annually and optimize the domestic energy mix to achieve nearly 50% of electricity generation capacity from renewable sources by 2030.

In line with these goals, Saudi Arabia plans to increase renewable energy capacity to 130 gigawatts (GW) by 2030. Of this capacity, 6.2 GW is already connected to the grid, and 20 GW of projects were launched this year. Currently, 44.2 GW are under development—enough to supply more than 7 million homes with clean electricity.

To achieve the goal of displacing over one million barrels of liquid fuel daily, highly efficient gas-fired power stations with carbon capture readiness will provide a total capacity of 42 GW of electricity generation capacity. Four stations with a capacity of 5.6 GW are already operational, and 9 GW are under construction across five stations. An additional 21 GW has been awarded for construction, and 6 GW is to be tendered in 2025.

Construction is underway on one of the world's largest carbon capture, transport, and storage centers in Jubail, targeting the capture of 9 million tons of carbon dioxide annually by 2027. Additionally, the Saudi Energy Efficiency Program continues to achieve substantial energy savings and contribute to sustainable economic development, reducing approximately 539,000 barrels of oil equivalent daily by the end of 2023—a 9.5% increase compared to 2022.

Moreover, Saudi Arabia has planted over 100 million trees and shrubs since the launch of SGI in 2021, alongside dispersing millions of seeds to expand green coverage further and combat sand encroachment.

The Kingdom has also rehabilitated over 118,000 hectares of degraded land—an area larger than 165,000 FIFA-regulation-sized football fields—advancing the interim goal of rehabilitating 8 million hectares by 2030.

Five new initiatives, led by Ma'aden, Morooj Foundation in partnership with the private sector, and the Tanmiah Food Company, represent a $60 million (SAR225 million) investment to accelerate afforestation efforts. These initiatives aim to plant millions of trees and mangroves, scatter 300 million seeds, rehabilitate degraded land, reduce air pollution, and enhance biodiversity across the Kingdom.

Through its afforestation efforts, Saudi Arabia aims to safeguard current and future generations by providing essential protection against extreme heat. These efforts mark a pivotal step toward the country's long-term goal of growing 10 billion trees, enhancing resilience to desertification and improving the quality of life across the Kingdom.

To date, 18.1% of Saudi Arabia's land and 6.49% of its marine environments—spanning nearly 400,000 km²—are under protection, advancing the Kingdom's target of safeguarding 30% of its land and marine areas by 2030.

Saudi Arabia's conservation efforts also reached a series of historic milestones. Since the launch of the Saudi Green Initiative in 2021, over 7,000 endangered species, including the Arabian oryx, Arabian and sand gazelles, and Nubian ibex, have been rewilded in the Kingdom's nature reserves.

In 2024, four cheetah cubs were born—the first in Saudi Arabia in over 40 years—marking a significant achievement under the National Cheetah Conservation Strategy. Additionally, over 110 endangered red-necked ostrich chicks hatched in wildlife breeding centers in 2024, signaling the success of the species' reintroduction, which went extinct in the wild 100 years ago.

The Ibex Reserve and King Salman Royal Nature Reserve were also added to the International Union for Conservation of Nature (IUCN) Green List, further recognizing Saudi Arabia's progress in implementing effective management and conservation programs.



Royal Commission for Riyadh City Announces 'Riyadh Creative District'

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)
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Royal Commission for Riyadh City Announces 'Riyadh Creative District'

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)

The Board of Directors of the Royal Commission for Riyadh City (RCRC) announced the launch of the “Riyadh Creative District,” a transformative initiative that aims to position the Saudi capital as a global creative and media hub while reinforcing the Kingdom’s leadership in the creative economy.

The new project is set to become a cornerstone in Riyadh’s evolution into a world-class metropolis, integrating seamlessly with the capital’s major development initiatives, reported the Saudi Press Agency on Thursday.

The project aims to foster a thriving ecosystem where creative minds, industry leaders, and emerging talent can collaborate to develop content and new ideas, drive cultural and technological advancements, and contribute to the Gross Domestic Product (GDP).

The Creative District aligns with Saudi Arabia’s long-term strategic vision by emphasizing the role of media, technology, culture and innovation in economic diversification and sustainable growth.

Minister of State, Member of the Council of Ministers, and CEO of RCRC Eng. Ibrahim bin Muhammad Al-Sultan expressed profound appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Royal Commission for Riyadh City, for their continued support of the commission’s projects, which are pivotal in shaping the future of Riyadh and enhancing its global competitiveness.

“The Riyadh Creative District is designed to be a vital extension of the capital’s creative, cultural, and economic landscape, reinforcing the city’s status as a dynamic hub for content creation and innovation. Through this initiative, we are not only establishing an inspiring space for creative industries to thrive, but also providing a gateway for global talent to engage with the Kingdom’s creative economy,” he said.

“This initiative embodies Saudi Arabia’s forward-looking vision to cultivate a knowledge-based society, and develop a globally integrated creative sector that generates sustainable economic and social impact,” he added.

A key milestone in the project’s launch is the signing of a strategic partnership agreement between RCRC and the King Abdullah Financial District (KAFD), ensuring a structured and integrated approach to its implementation. This collaboration is expected to catalyze the expansion of the creative industries in Saudi Arabia, bridging the gap between local and international expertise and fostering cross-sector innovation.

The Creative District is set to redefine the role of creativity in economic development, by offering a dynamic platform that connects designers, artists, entrepreneurs, and technology pioneers. It will serve as an incubator for new business models, cultural enterprises, and digital transformation projects, ultimately reinforcing Riyadh’s position as the regional epicenter for creative excellence.

Beyond GDP contributions, the district will play a crucial role in cultural exchange and community engagement by hosting interactive programs, industry events, and knowledge-sharing initiatives that empower emerging talent and facilitate the exchange of ideas. Its impact is expected to extend beyond Riyadh, influencing the broader Middle East creative ecosystem and elevating the Kingdom’s standing as a destination for investment in the creative economy.

Aligned with the goals of Saudi Vision 2030, the Creative District underscores the Kingdom’s commitment to fostering a globally competitive creative sector, that not only boosts the quality of life but also drives innovation-led economic transformation. By offering a supportive environment for creatives, startups, and established enterprises, the district is poised to shape the future of creative industries in Saudi Arabia, offering new employment opportunities, accelerating digital adoption, and laying the groundwork for a knowledge-driven economy.

With a focus on sustainability and long-term impact, the Creative District will also contribute to Riyadh’s broader urban transformation, integrating smart infrastructure, cutting-edge technology, and sustainable design principles to create an environment where creativity and innovation can flourish. The Creative District will be instrumental in attracting both regional and international investment in the creative industries, ensuring that Saudi Arabia remains at the forefront of global creative and cultural advancements.

As Riyadh continues its journey toward becoming a premier global destination for business, culture, and innovation, the Creative District will serve as a testament to the Kingdom’s unwavering commitment to fostering talent, advancing creative industries, and building a prosperous future driven by ingenuity, collaboration, and forward-thinking policies.