Saudi money laundering in Arab: switching from landfills will save 120 billion riyals

Saudi Investment Recycling Company CEO Ziad Al-Shiha confirmed that the Kingdom’s goals in moving away from (landfills) will create a circular economy system that will provide at least 77,000 jobs and input 100 to 120 billion riyal in the economy as a whole.

Al-Shiha’s speech came today, Saturday, in an interview with “Al-Arabiya” on the sidelines of the first edition For the annual forum of the Green Saudi Initiative in Riyadh, which deals with launching initiatives The new environmental environment of the Kingdom, e follow-up on the impact of the previously announced initiatives, in order to achieve the objectives of the Green Saudi Initiative.

The CEO of the Saudi Investment Recycling Company said that in 2035 Saudi Arabia will depend on 95% of the transformation from landfills, compared to about 5% today, and this is a completely opposite transformation that will have positive effects on the environment and on the economy.

Over the course of 3 days, Saudi Arabia will present its plans to implement the Green Saudi Initiative and the Green Middle East Initiative, planting a number of tree species that will enhance the region’s ecosystem.

The Green Saudi Initiative, first announced in March, precedes the 26th United Nations Climate Change Conference (COP26) in Glasgow from 31 October to 12 November, which aims to agree on larger cuts in emissions to combat global warming.

The Paris climate agreement aims to meet environmental goals as part of a global effort to prevent global average temperatures from rising more than 1.5 degrees Celsius from pre-industrial levels.

At the beginning of the forum, the Kingdom revealed that it has joined the “Global Commitment on Methane “aimed at reducing global methane emissions by 30% and has launched energy initiatives that would reduce carbon emissions by 278 million tons per year by 2030, which represents a voluntary reduction of more than the weakness of the Kingdom’s announced goals. for the reduction of emissions, as it aims to achieve neutrality zero in 2060 through the circular carbon economy approach.

In turn, the United Nations praised Saudi Arabia’s bold initiatives in environment and climate, with the launch of the first edition of the annual forum of the Green Saudi Initiative.

In his keynote address at the Green Saudi Initiative Forum, Prince Mohammed bin Salman bin Abdulaziz, the Saudi Crown Prince, Deputy Prime Minister and President of Green Saudi Arabia announced the launch of the Kingdom’s first quality initiative package as a road map for environmental protection and to face the challenges of climate change, which will contribute to the achievement of the ambitious objectives of the Green Saudi Initiative.

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