Saudi Arabia Combats Climate Change with 65 Initiatives Worth $13 Billion

Participants attending the Saudi Green Initiative Forum discuss efforts by the Kingdom to tackle climate change, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
Participants attending the Saudi Green Initiative Forum discuss efforts by the Kingdom to tackle climate change, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
TT

Saudi Arabia Combats Climate Change with 65 Initiatives Worth $13 Billion

Participants attending the Saudi Green Initiative Forum discuss efforts by the Kingdom to tackle climate change, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
Participants attending the Saudi Green Initiative Forum discuss efforts by the Kingdom to tackle climate change, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri

Saudi Arabia is participating in the COP 26 UN Climate Change Conference - hosted by the United Kingdom in partnership with Italy - armed with around 65 initiatives that are worth more than USD13 billion, which are aimed at combatting climate change and developing a relevant environment strategy.

During the opening of the Green Saudi Forum, which was recently held in Riyadh, Crown Prince Mohammed bin Salman revealed the first package that will contribute to achieving green Saudi initiatives, pointing out that the Kingdom will seek to reduce emissions by more than 270 million tons annually, in addition to a number of other initiatives announced on the sidelines of the summit.

Saudi Arabia’s participation in the ongoing international conference reflects the importance it attaches to climate change and environmental protection, in line with the transformation program within Vision 2030.

The Kingdom has launched a process for structuring its environmental work system, which included the establishment of five environmental centers specialized in meteorology, environmental compliance, biodiversity, plant cover development, combating desertification and managing waste.

A week ago, Riyadh hosted the Saudi Green Initiative Forum, which witnessed the announcement of more than 59 initiatives, and the Green Middle East Initiative summit, in the presence of international stakeholders and regional leaders.

The Ministry of Energy also launched the initiative of the Custodian of the Two Holy Mosques for Renewable Energy, which seeks to increase the percentage of renewable energy to reach the optimal mix, raise the efficiency of the electricity sector and achieve environmental goals by reducing carbon dioxide emissions, in addition to realizing a set of major economic goals.

The Kingdom aims to reach net-zero emissions by 2060 by implementing the carbon circular economy approach, through the first set of Green Saudi initiatives, with investments exceeding 700 billion riyals, in order to chart a more sustainable future.

Environmental Expert Dr. Ali Eshqi told Asharq Al-Awsat that the Kingdom has recently played a major role in fighting global warming by increasing the area of green spaces, which contributes to raising the proportion of oxygen in the atmosphere and reducing carbon dioxide.

On the other hand, the Kingdom’s plans in the field of renewable energy sources included wind and solar energy, which will represent 50 percent of the energy used to produce electricity in the Kingdom by 2030.

Saudi Arabia will also join the Global Methane Pledge to reduce global emissions by 30 percent compared to the level of emissions in 2020.

Efforts to protect the environment and preserve its natural resources included establishing an environment fund to contribute to achieving financial sustainability for this sector, setting up special forces for environmental security, and developing national capabilities in the field of predicting natural disasters and early warning.

Moreover, the Saudi State has established the Council for Royal Reserves to develop natural reserves in six locations in the Kingdom, by raising the percentage of protected areas to more than 30% of the country’s land area, which exceeds the current global target to protect 17% of each country’s lands.

In a more remarkable development, Saudi Arabia has started implementing the first phase of afforestation initiatives, which seeks to plant more than 450 million trees, rehabilitate 8 million hectares of degraded lands and allocate new protected lands, bringing the total protected areas in the Kingdom so far to more than 20 percent of its total surface.

Eshqi said: “If we plant 10 million trees in the Middle East as planned in the Saudi initiative launched by Crown Prince Mohammed bin Salman, we will reach a natural balance with the percentage of existing gases, especially carbon dioxide.”

The Saudi Ministry of Environment, Water and Agriculture worked on the optimal investment of water wealth through rationalization and the use of treated and renewable water and the establishment of an integrated project for waste recycling, as well as raising the percentage of waste diversion from landfills to 94 percent.

The Kingdom’s pioneering initiatives in the field of climate action include two projects to establish a fund to invest in solutions for circular carbon economy technologies in the region, and a global initiative to provide clean fuel solutions to provide food to more than 750 million people around the world.



Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
TT

Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the Kingdom’s capital markets and economy.

“This investment aligns to the Kingdom's Vision 2030 initiative and underscores its dynamism and growth,” Moody’s said in a statement this week.

The new regional headquarters marks an expansion of Moody’s presence in Saudi Arabia, where the company first opened an office in 2018, and reflects its longstanding commitment to the Middle East.

“The headquarters will strengthen Moody’s engagement with Saudi institutions and enable broader access to Moody’s decision grade data, analytics and insights,” said the statement.

“Our decision to establish a regional headquarters in Riyadh reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said President and Chief Executive Officer of Moody’s Rob Fauber.

“We are well positioned to provide the analytical capabilities and market intelligence that investors and institutions need to navigate evolving markets across the Middle East,” the statement quoted him as saying.

Mahmoud Totonji will lead the regional headquarters as General Manager.


Saudi Arabia Launches First Endowment Fund for Environmental, Water and Agricultural Sustainability

The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
TT

Saudi Arabia Launches First Endowment Fund for Environmental, Water and Agricultural Sustainability

The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
The launch of the Namaa Endowment Fund (Asharq Al-Awsat)

Saudi Arabia has launched its first endowment fund dedicated to advancing environmental, water and agricultural sustainability, reinforcing efforts to strengthen the Kingdom’s non-profit sector and long-term development.

Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadhli on Tuesday inaugurated the Namaa Endowment Fund at the ministry’s headquarters, in the presence of senior officials and stakeholders.

The fund is designed to support economic and social development goals, address community needs, increase the non-profit sector’s contribution to GDP, and promote sustainable management of environmental, water and agricultural resources.

Al-Fadhli said the fund represents a new model of institutional endowment work and a practical mechanism to expand developmental impact while ensuring the sustainability of non-profit initiatives.

Developed in partnership with the General Authority for Awqaf, the fund aims to build assets commensurate with its ambitions, enabling higher returns and a wider impact over the long term.

It will pursue carefully structured investments that balance financial performance with developmental outcomes, with the potential to own or benefit from real estate assets that can be used by non-profit organizations.

Encouraging Private-Sector Participation

Al-Fadhli added that the ministry, in cooperation with the General Authority for Awqaf, the Capital Market Authority and AlAhli Capital, will support the fund and encourage contributions from the private sector, business leaders and the wider public.

Contributions will be made through a licensed digital platform under strict financial governance. He called on all segments of society to contribute in support of sustainable development across the environment, water and agriculture sectors.

Namaa will finance endowment initiatives within the ministry’s ecosystem, including the non-profit institutions Reef, Morooj and Saqaya. Its focus areas include water provision and conservation, afforestation, biodiversity protection, vegetation cover, the circular economy, sustainable agriculture and irrigation, and reducing food loss and waste.

Emad Alkharashi, Governor of the General Authority for Awqaf, announced an initial contribution of SAR100 million, describing it as a foundation for a sustainable endowment model.

He said the fund combines the legacy of endowments with modern investment practices to protect natural resources, strengthen food security and ensure lasting developmental impact.

Alkharashi added that the partnership with the ministry maximizes results and positions the fund as a model for directing endowments toward high-impact, long-term priorities through a transparent, well-governed institutional framework.


Makkah Gears Up for Ramadan with Tourism Drive, Record Hospitality Growth  

Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
TT

Makkah Gears Up for Ramadan with Tourism Drive, Record Hospitality Growth  

Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)

Saudi Arabia’s Ministry of Tourism has raised the readiness of Makkah’s hospitality sector to its highest level ahead of the holy month of Ramadan, stressing that serving pilgrims and visitors remains a top national priority.

Makkah is preparing to receive worshippers and visitors amid a marked expansion in hospitality capacity. The city now has more than 2,200 licensed accommodation facilities, reflecting growth of 35 percent over the past year. The number of licensed hotel rooms has exceeded 380,000, up 25 percent, while total domestic and inbound tourism spending is projected to surpass SAR 143 billion ($38.1 billion) in 2025.

The wider Makkah region recorded unprecedented performance indicators last year, both in visitor numbers and tourism spending, underscoring sustained growth and operational readiness.

Total domestic and international visitors exceeded 50 million, marking a 14 percent increase compared with 2024.

Tourism Minister Ahmed Al-Khateeb announced the figures during an annual inspection tour on Tuesday, stressing that the indicators reflect a major expansion in accommodation capacity and record growth in visitor numbers.

The tour included inspections of temporary lodging facilities designated for pilgrims, part of a proactive plan to increase capacity during peak seasons, alongside early preparations for the upcoming Hajj.

Vision 2030 targets surpassed

Official data has shown that Saudi Arabia has exceeded its Vision 2030 targets for the Umrah. The number of pilgrims arriving from abroad rose from 8.5 million in 2019 to more than 18 million in 2025, surpassing the original goal of 15 million by 2030.

A number of hotels surrounding the Grand Mosque in Makkah. (General Authority for Awqaf)

Service quality indicators improved as well, with pilgrim satisfaction reaching 94 percent, exceeding Vision 2030 benchmarks.

Workforce development kept pace with demand, as the number of licensed tour guides rose to more than 980, a 23 percent increase.

Masar Mall project

Al-Khateeb announced a joint financing agreement between the Tourism Development Fund and the Arab National Bank with Hamat Holding to support the Masar Mall project. The development carries a total cost of SAR 936 million (about $250 million).

The project is expected to become the largest shopping center in Makkah with the capacity to accommodate around 20 million visitors annually.

Its location near the Haramain High-Speed Railway station and a direct pedestrian link to the Grand Mosque are expected to strengthen the city’s commercial and tourism infrastructure.

Jeddah: Gateway to pilgrims

Meanwhile, Jeddah continues to consolidate its position as a complementary destination to Makkah and a primary gateway for pilgrims, while also expanding its role as a coastal tourism hub.

The city welcomed more than 13 million domestic and international visitors in 2025, a 10 percent increase from 2024. Tourism spending reached SAR 28 billion ($7.47 billion), up 6 percent year on year.

Jeddah’s hospitality sector also expanded, with more than 500 licensed facilities and over 33,000 licensed rooms.

The city is currently developing 46 tourism projects valued at SAR 21 billion ($5.6 billion) and expected to add more than 11,000 hotel rooms and further strengthen its tourism infrastructure and economic value.