Asharq Al-awsat English Middle-east and International News and Opinion from Asharq Al-awsat Newspaper

Saudi SABIC Targets Carbon Neutrality by 2050

Saudi SABIC Targets Carbon Neutrality by 2050

Saturday, 23 October, 2021 - 17:00
Riyadh Skyscrapers tower over a highway in the main financial hub, Riyadh, Saudi Arabia, Dec. 16, 2020. (AFP)

Petrochemicals giant Saudi Basic Industries Corp (SABIC) announced plans on Saturday to meet carbon neutrality by 2050, the company said in a statement on the sidelines of the Saudi Green Initiative summit.

“SABIC is committed to the Paris Agreement goals and will continually pursue efforts and explore solutions to meet carbon neutrality from operations under our control by 2050, taking into account the different regional and national ambitions, commitments and initiatives,” the world’s fourth biggest petrochemical company by sales said.

“Focusing on our direct and indirect emissions generated by our own production, we aim to reduce our greenhouse gas emissions by 2030 worldwide by 20% compared to 2018,” it added.

Speaking at the Saudi Green Initiative (SGI) in Riyadh on Saturday, Crown Prince Mohammed bin Salman said the world’s top oil exporter aimed to reach “net zero” emissions of greenhouse gases - mostly produced by burning fossil fuels - by 2060. He also said it would double the emissions cuts it plans to achieve by 2030.

Editor Picks