The Crown Prince announces that the Kingdom will host the headquarters of the Green Middle East Initiative Secretariat and will support it with (2.5) billion dollars

Co-chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince and Prime Minister – may God protect him – and His Excellency President Abdel Fattah Al-Sisi, President of the Arab Republic of Egypt, the second edition of was launched today in Sharm El Sheikh, in Egypt, the summit of the Green Middle East Initiative. The twin Arab world, in amid the broad participation of senior leaders from around the world, including heads of state and government from the Gulf Cooperation Council, the Middle East region, the Arab Mashreq countries, Africa and international partners.

His Highness the Crown Prince delivered the following speech:

Majesty, Excellencies and Highnesses,

Dear participants,

Peace, mercy and blessings from God,

I am delighted to be among you at the second summit of the Green Middle East Initiative and to convey to you the greetings of the Keeper of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and his wishes for the success of the work of this summit.

I also thank my brother, His Excellency President Abdel Fattah El-Sisi; The President of the Arab Republic of Egypt for his kind and well-organized appeal for the success of the works in the context of this qualitative regional initiative, which arrives in coinciding with the Conference of the Parties to the Climate Change Convention (COP 27).

Dear brothers,

Achieving the desired goals of the ambitious Green Middle East Initiative requires ongoing regional cooperation and active contributions from Member States to help achieve global climate goals and implement their commitments at a faster pace under relevant international agreements.

In concert with regional efforts, the initiative seeks to support efforts and cooperation in the region to reduce and eliminate emissions of more than 670 million tonnes of carbon dioxide equivalent.

It is the amount that represents the specific national contributions of all the countries in the region and also represents 10% of the global contributions at the time of the announcement of the initiative.

In addition to planting 50 billion trees, increase by 12 times thearea covered by trees and reclaiming 200 million hectares of degraded land, reducing global emissions rates by 2.5%.

To achieve its emission reduction targets, the Kingdom has launched the “Green Saudi Arabia” initiative to reduce emissions by more than 278 million tons of carbon dioxide equivalent by 2030.

Through the implementation of the circular carbon economy approach and the launch of numerous other initiatives, including an international cooperation platform to implement this approach, a regional investment fund dedicated to financing solutions for technologies of the economy of the Carbon and Clean Fuel Solutions for Foods Initiative.

The Kingdom has also accelerated the pace of development and adoption of clean energy technologies and sources, represented by the use of renewable energy, with the aim of managing hydrocarbon emissions,

The most important of these steps is to diversify the energy mix used to generate electricity in the Kingdom in so that 50% of electricity is produced within the Kingdom by relying on renewable energy sources by 2030,

And thus achieve the removal of 44 million tons of carbon emissions, equivalent to 15% of the Kingdom’s currently determined nationally, by 2035.

To achieve the goal of afforestation, which embodies the use of natural solutions to combat emissions, several initiatives were launched during the previous summit, including the establishment of a regional center for climate change and a regional program for cloud seeding.

To help implement the objectives of this initiative, the Kingdom has announced that it aims to plant 10 billion trees and increase protected land and marine areas to 30% of the total national area.

Majesty, Excellencies and Highnesses,

Dear participants,

Confirming the Kingdom’s commitment to international sustainability efforts, it was announced that the Kingdom will host the headquarters of the General Secretariat of the Green Middle East Initiative and its decision to contribute an amount of two billion and five hundred million dollars in support of the projects of the initiative and the budget of the General Secretariat for a period of ten years.

It was also announced today that the Public Investment Fund aims to achieve zero greenhouse gas emissions by 2050 through the circular carbon economy approach.

To be one of the first global sovereign wealth funds and the first in Middle East to aim for neutrality zero by 2050, thereby strengthening the fund’s role as a major player in supporting global efforts to address climate challenges.

Taking in considering Member States’ development plans and their ability to responsibly shift to more sustainable energy systems and encouraging investment in they in cooperation between governments, the private sector and regional and international organizations.

long last,

The Kingdom renews its commitment to work with the countries of the region to achieve the goals of the Green Middle East Initiative to be a global model for combating climate change.

We hope today’s summit achieves results that help strengthen joint action to ensure a bright and prosperous future for our generations. future.

We ask God for the success and success of this summit and that the paceGod’s mercy and blessings be upon you.