Riyadh and London Officials Discuss Collaborations in Sustainable Infrastructure Summit
In a special event held in London, officials from Saudi Arabia and the UK engaged in discussions about city development, green technologies, and infrastructure financing.
Robust Bilateral Relations
The UK-Saudi Sustainable Infrastructure Summit, which took place on June 24, brought together over 250 industry and financial leaders from both countries, as well as key representatives from major giga-projects.
This summit follows the signing of an agreement in late 2022 to enhance cooperation on green finance, as Saudi Arabia seeks ethical funding for its transformative giga-projects.
Ambitious Climate Goals
Saudi Arabia has committed to ambitious climate goals, including a target to reduce carbon emissions by 278 million tonnes annually by 2030 and to increase renewable energy generation capacity by 50 percent.
City of London’s Expertise
The Lord Mayor of the City of London Alderman Professor Michael Mainelli highlighted the City of London’s expertise and leadership in sustainable finance, which can set a global template for sustainable development in collaboration with Saudi Arabia.
Discussions on Urbanization and Green Technologies
The summit, organized by the Saudi British Joint Business Council in collaboration with the City of London Corp., focused on urbanization, sustainable city development, and financing strategies, emphasizing the expansion of green technologies and renewable energy solutions.
High-Level Saudi Delegation
A high-level Saudi delegation led by the Ministry of Investment and the Federation of Saudi Chambers attended the event, building on prior gatherings to reinforce the Saudi-UK dialogue on clean energy development and decarbonization in the business sector.
Importance of UK-Saudi Cooperation
Supported by lead sponsors NEOM and Saudi Awwal Bank, the summit underscored the importance of UK-Saudi cooperation in developing sustainable infrastructure and advancing the green transition.
Panel Discussions
The panels at the summit delved into bridging the investment gap, smart urban planning for resilient communities, and initiatives in green technology and renewable energy.