Saudi Arabia Calls for Integrating Circular Carbon Methods to Manufacturing, Production Systems

Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
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Saudi Arabia Calls for Integrating Circular Carbon Methods to Manufacturing, Production Systems

Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that the kingdom was not part of the climate change crisis, emphasizing that the Kingdom is working seriously towards leading the world to a life free of carbon and gas emissions.

Underlining that Saudi Arabia was working towards a solution for climate change, Prince Abdulaziz affirmed that capturing Carbon will be the critical technology everyone must work on and collaborate on implementing.

During a seminar held in Riyadh on Wednesday, Prince Abdulaziz explained that several gases, other than CO2, are being emitted, such as methane.

For Saudi Arabia’s part, the energy minister reaffirmed that the Kingdom has the capabilities needed to lead an appropriate solution.

“Compared to the US, Canada, Britain, Russia, Mexico, Brazil, Venezuela, and other countries, our numbers show that we stand far from the emissions of these countries,” said Prince Abdulaziz, noting that the Kingdom is among the promoters of green economies.

He stressed the need to enhance international cooperation on employing the latest technology to help integrate circular carbon systems at all levels, enable industrial integration, prevent emissions, and create climate-friendly structures that support sustainable development.

Prince Abdulaziz stressed that Riyadh had called on all world countries to adopt this initiative to achieve carbon neutrality.

Prince Abdulaziz’s remarks were given at a virtual symposium entitled “Circular Carbon Economy: Total Carbon Management” organized by the Saudi Industrial Development Fund (SIDF).

The seminar brought together clean energy researchers, policymakers, regulators, and academics for practical discussions on policy and regulatory reforms needed to advance clean energy technologies and innovation successfully.

It tackled topics related to manufacturing and production systems integrating circular carbon systems at all levels.

Prince Abdulaziz stressed that Saudi Arabia would not be part of the global problem but instead will be at the forefront of work towards a solution and environmentally friendly activities.



Euro 2024 Tourism to Bring 1$ Billion to Germany, Study Shows 

The words "Welcome to Berlin" can be read shortly before sunrise on a display in the fan zone (Platz der Republik) against the backdrop of the Reichstag and the TV tower in Berlin on Friday, June 14, 2024. (dpa/AP)
The words "Welcome to Berlin" can be read shortly before sunrise on a display in the fan zone (Platz der Republik) against the backdrop of the Reichstag and the TV tower in Berlin on Friday, June 14, 2024. (dpa/AP)
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Euro 2024 Tourism to Bring 1$ Billion to Germany, Study Shows 

The words "Welcome to Berlin" can be read shortly before sunrise on a display in the fan zone (Platz der Republik) against the backdrop of the Reichstag and the TV tower in Berlin on Friday, June 14, 2024. (dpa/AP)
The words "Welcome to Berlin" can be read shortly before sunrise on a display in the fan zone (Platz der Republik) against the backdrop of the Reichstag and the TV tower in Berlin on Friday, June 14, 2024. (dpa/AP)

Germany, the host of Euro 2024, can expect a 1 billion euro ($1.07 billion) boost to its economy thanks to foreign tourists traveling to the country for the soccer games, the ifo institute forecasts.

This corresponds to about 0.1% of economic output in the second quarter of the year, with Germany´s hospitality and food retail sectors set to benefit the most from the games, the country's top economic research institute said.

"However, the effect is only short-lived, so that exports of services due to returning tourists are likely to fall again after the end of the European Championship in the third quarter and remain the same on balance," ifo researcher Gerome Wolf said.

More than an additional 600,000 foreign tourists and 1.5 million additional overnight stays are expected during the Championship, according to the institute's calculations based on the numbers from the FIFA World Cup hosted by Germany in 2006.

The German Economy Ministry also expects a temporary upturn in consumer-facing sectors after very subdued retail sales this year, but not to the same extent as during the 2006 World Cup.

Experts agree that the overall effect of the Euro 2024 on Europe’s largest economy also depends on how the German national team performs in the tournament.

Their match against Scotland will kick off the tournament on Friday evening.