Saudi Arabia Leading the Charge in Sustainability with $180 Billion Investment
Saudi Arabia is accelerating its leadership in sustainability, committing over $180 billion to a green economy while driving innovation in climate technologies, according to a new report.
Dominant Force in Environmental Solutions
Analysis by Agility reveals that the Kingdom accounts for 75 percent of climate technology investments in the Middle East, solidifying its position as a dominant force in environmental solutions.
Advancements in Renewable Energy and Climate Adaptation
Saudi Arabia’s efforts include advancements in renewable energy, circular economy initiatives, and climate adaptation, showcasing its regional and global leadership in sustainability.
Ambitious Targets Under Saudi Green Initiative
The report commends the Kingdom’s policymakers for ambitious targets set under the Saudi Green Initiative and Vision 2030, with NEOM’s commitment to running entirely on renewable energy as a prime example.
Addressing Environmental Challenges
Despite significant environmental challenges, with 95 percent of its territory classified as desert, Saudi Arabia is at the forefront of the clean-energy revolution and the fight against global climate change.
Projections and Priorities
As projections warn of more frequent droughts and heat waves, the Kingdom’s focus on accelerating renewable energy projects, enhancing resource efficiency, expanding public transport, and improving air quality is crucial.
Leading the Global Hydrogen Market
Saudi Arabia aims to lead the global hydrogen market, targeting 4 million tonnes of green hydrogen production annually by 2035, with NEOM set to host the world’s largest hydrogen plant.
Promising Signs of Sustainability Adoption
While businesses are trailing policymakers in sustainability measures, the report reveals promising signs with more than half of Saudi executives planning to adopt green technologies and allocate capital expenditure towards sustainability.
Regional Powerhouse for Sustainable Practices
The report positions Saudi Arabia as a regional powerhouse and a potential global benchmark for sustainable practices, showcasing its commitment to a green economy and climate innovation.