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
TT

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.



E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
TT

E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."