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Saudi Arabia Steps up ‘Climate Battle’ Efforts

Part of the audience in the Saudi pavilion at the COP27 conference (Asharq Al-Awsat)
Part of the audience in the Saudi pavilion at the COP27 conference (Asharq Al-Awsat)
    Sharm el-Sheikh - Lamia Nabil
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Saudi Arabia Steps up ‘Climate Battle’ Efforts

Part of the audience in the Saudi pavilion at the COP27 conference (Asharq Al-Awsat)
Part of the audience in the Saudi pavilion at the COP27 conference (Asharq Al-Awsat)

The Saudi pavilion at COP27 was one of the most crowded places during the days of the conference in Sharm el-Sheikh.

Visitors did not only attend seminars and discussion sessions, they also met researchers who have introduced programs directed to combating climate change to light.

While Energy Minister Prince Abdulaziz bin Salman was active in leading the Saudi delegation during the days of his presence, which witnessed the launch of many Saudi-sponsored initiatives to confront climate change, researchers enriched the sessions with a lot of technical information on the nature and details of the initiatives.

During the summit, Prince Abdulaziz referred to many initiatives and concepts.

Those initiatives included the establishment of a regional center for the development of reducing emissions, and the launching of the Circular Carbon Economy Knowledge Hub at the beginning of 2023.

He also stressed the need to consolidate the circular carbon economy.

For his part, the Governor of the Public Investment Fund (PIF) and Chairman of Saudi Aramco, Yasir Al Rumayyan, said that Saudi Arabia’s Middle East Green Initiative (MGI) is a turning point in environmental efforts aiming to transition national ambitions into practical steps that affect the entire world.

Al Rumayyan underlined the great efforts being made by the Kingdom to build a green future, as part of its ambitions for carbon neutrality by 2060.

The Voluntary Carbon Market (VCM) Initiative was the first of its kind in the MENA region, Al Rumayyan said during the Saudi Green Initiative Forum.

The world’s largest-ever carbon credit auction took place last month, when 1.4 million tons of carbon credits were sold to 15 Saudi and regional entities. The PIF was also the first sovereign wealth fund to issue a 100-year tranche green bond, Al Rumayyan added.

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Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
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Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)

Kazakh Ambassador to Saudi Arabia, Madiyar Menilbekov, announced that his country eagerly anticipates the completion of ACWA Power’s first wind energy project in the Zhetysu region. This project, led by the Saudi company, will have a total capacity of 1 gigawatt and an investment value of approximately $1.5 billion.
ACWA Power announced last March that it would execute this project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. Construction is expected to commence in the summer of 2025.
Menilbekov told Asharq Al-Awsat that both countries “have established a solid political dialogue at a high level, along with cooperation in trade, economics, culture, and parliamentary exchange.” He expects this high-level dialogue to continue at the upcoming COP 16 summit in Riyadh.
He further emphasized that trade, economic, and investment cooperation is the cornerstone of the bilateral relationship, noting: “Both countries share a similar outlook on economic development, reflected in Kazakhstan’s Strategic Program 2050 and Saudi Arabia’s Vision 2030.”
The Kazakh ambassador highlighted that last September, the Islamic Development Bank approved financing for projects in Kazakhstan focused on water resource development, enhancing agricultural productivity, and ensuring food security, with total allocations amounting to $1.153 billion.
In tourism, he noted significant progress toward establishing direct flights between the two countries. Air Astana launched flights between Shymkent and Jeddah in October and announced a route from Almaty to Medina, bringing the total to six direct flights. Additionally, Kazakh companies in construction, oil services, and IT have recently opened offices across Saudi Arabia. The Farabi Innovation Center was inaugurated in Riyadh to attract talented entrepreneurs and innovative startups from Nur-Sultan and Central Asia to the Kingdom.
Menilbekov explained that since gaining independence, Kazakhstan’s GDP has grown 17-fold, with foreign trade reaching $139.8 billion last year. He added: “Since 1993, Kazakhstan has attracted a total of $441 billion in foreign direct investment, allowing our economy to remain one of the most dynamic in Central Asia and the post-Soviet region.”
According to Menilbekov, Kazakhstan is the world’s largest producer and exporter of natural uranium, responsible for more than 45% of global production and exports. He also noted that Kazakhstan produces 18 of the 34 raw materials identified by the European Union as “critical materials.”
Menilbekov further mentioned that Kazakhstan possesses 200 million hectares of agricultural land, with about 100 million hectares currently under regular cultivation.