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
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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.



Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
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Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)

Türkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry and British oil major said on Wednesday.

European Union member Bulgaria, which had been totally dependent on Russian gas until 2022, has been seeking to diversify its gas supplies and find cheaper sources, Reuters reported.

TPAO and Shell will jointly explore the Khan Tervel block, located near Türkiye's Sakarya gas field, and will hold a five-year licence in Bulgaria's exclusive economic zone, Minister Alparslan Bayraktar said.

Shell will continue as operator of the block, while TPAO will take a 33% interest in the licence, a Shell spokesperson said.

Since the start of this year, TPAO has signed energy cooperation agreements with ExxonMobil, Chevron and BP for possible exploration work in the Black Sea and the Mediterranean.

In April, Shell signed a contract with Bulgaria's government to allow the oil major to explore 4,000 square metres in the block.


Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
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Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in the airline category.

As part of the partnership, Saudia will develop special travel packages designed to enable visitors to experience world-class attractions. The collaboration also brings the spirit of Six Flags and Aquarabia Qiddiya City to the skies through special aircraft branding across Saudia’s fleet, SPA reported. 

Chief Marketing Officer of Saudia Group Khaled Tash said in a press release: "Saudia is committed to supporting national development projects as part of its contribution to Vision 2030, aligned with our strategy to bring the world to the Kingdom. Partnerships of this scale with national partners play a key role in positioning Saudi Arabia as a leading global destination for entertainment and tourism."

Park President of Six Flags and Aquarabia Qiddiya City Brian Machamer added: "Our partnership with Saudia not only reflects a shared ambition to connect the Kingdom to the world through world-class entertainment experiences, but strengthens our ability to attract visitors from around the world and realize our vision of setting a new global benchmark for immersive, world-class theme park entertainment and reinforcing Saudi Arabia’s growing presence on the global tourism stage."

Six Flags Qiddiya City sets a new benchmark for exceptional entertainment regionally and globally. Spanning six iconic themed lands, the theme park takes visitors on an immersive journey across 28 rides and attractions designed to world-class standards. Beyond the scale and diversity of its offerings, Six Flags Qiddiya City stands out for pushing the boundaries of engineering and entertainment, featuring five exclusive, record-breaking rides that have redefined global benchmarks. Leading these innovations is Falcons Flight, the roller coaster that has captured global attention as the fastest, tallest, and longest in the world.

Aquarabia Qiddiya City delivers a distinctive aquatic entertainment experience, offering 22 rides and water attractions, along with a man-made river designed for both relaxation and family-friendly water fun. For guests seeking privacy and elevated comfort, Aquarabia features 91 luxury cabanas, positioning the destination as a fully integrated leisure offering that redefines water-based entertainment to the highest international standards.

Located in the Tuwaiq Mountains near Riyadh, Qiddiya City is an emerging destination bringing together entertainment, sports, and culture. Six Flags and Aquarabia Qiddiya City form part of its entertainment offering.


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)
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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.