Saudi Arabia’s One Planet Summit Charts Pathways for Climate Investment Decisions

Saudi Arabia is hosting the COP 16 in Riyadh. (Asharq Al-Awsat)
Saudi Arabia is hosting the COP 16 in Riyadh. (Asharq Al-Awsat)
TT

Saudi Arabia’s One Planet Summit Charts Pathways for Climate Investment Decisions

Saudi Arabia is hosting the COP 16 in Riyadh. (Asharq Al-Awsat)
Saudi Arabia is hosting the COP 16 in Riyadh. (Asharq Al-Awsat)

The 7th annual summit of the One Planet Sovereign Wealth Funds Working Group (OPSWF), held in Riyadh on Tuesday, outlined key pathways to enhance climate-aligned investment decisions and improve efficiency and impact within the global financial system.

Discussions focused on climate-relevant data, artificial intelligence, enabling technologies, transformative financing, clean hydrogen, green buildings, and renewable energy in emerging markets and developing economies.

Hosted by Saudi Arabia’s Public Investment Fund (PIF), the summit featured French President Emmanuel Macron, PIF Governor Yasir Al-Rumayyan, and over 100 CEOs, members of the OPSWF, and private equity and asset managers.

The meeting coincided with Saudi Arabia hosting major climate-related events, including the UNCCD COP16 (United Nations Convention to Combat Desertification), the Saudi Green Initiative Forum, and the One Water Summit, all taking place this December.

Discussions at the summit emphasized the vital role of sovereign wealth funds as global investment entities in addressing climate challenges, driving economic transformation, and achieving sustainable development. The participants explored opportunities to scale investments in renewable energy, expand green financing for hard-to-abate sectors, utilize AI for emissions reduction, and advance green building standards.

Yasir Al-Rumayyan highlighted the Saudi sovereign wealth fund’s commitment to integrating climate action into all its investment decisions. He reaffirmed PIF’s pledge to achieve net-zero emissions by 2050, aligning with Saudi Arabia’s broader goals. Renewable energy remains a top priority for PIF’s investment strategy to achieve this target, he emphasized.

He also noted PIF’s efforts to localize renewable energy industries and produce clean hydrogen, with the fund responsible for developing 70% of Saudi Arabia’s renewable energy capacity.

Al-Rumayyan also said that PIF continues to collaborate with the OPSWF to develop a comprehensive and inclusive investment approach to achieving net-zero emissions.



Saudi Arabia Assumes WTO General Council Presidency for 2025–2026

The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
TT

Saudi Arabia Assumes WTO General Council Presidency for 2025–2026

The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)

The General Council of the World Trade Organization (WTO) has unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. In a historic milestone, Al-Moqbel becomes the first Arab and Middle Eastern delegate to assume this position, reported the Saudi Press Agency on Wednesday.

The WTO General Council, which convenes throughout the year, oversees the organization’s operations between ministerial conferences, held biennially. As the highest decision-making body at the level of heads of missions, the council plays a crucial role in shaping global trade policies.

During Saudi Arabia's presidency, the General Council is set to address several key issues, including preparations for the 14th Ministerial Conference, scheduled to be held in Cameroon in March 2026.

The agenda will also focus on essential WTO reforms, particularly the dispute settlement mechanism; advancing negotiations on the second phase of the Fisheries Subsidy Agreement; and addressing agriculture, food security, and development concerns.

Other priorities include integrating multilateral agreements, such as the Investment Facilitation for Development Agreement and the E-Commerce Agreement, into the WTO framework.

Commenting on the appointment, Al-Moqbel emphasized that Saudi Arabia’s leadership in the WTO General Council reflects its growing role in the international economic landscape, leveraging its global economic influence to strengthen multilateral trade cooperation.