SAUDI ARABIA TO JOIN NEW ‘NET ZERO PRODUCERS FORUM’ ON CLIMATE CHANGE

Sun 25 April 2021:

Saudi Arabia will join the United States, Canada, Norway, and Qatar in forming a new platform for oil and gas producers to discuss how they can support the implementation of the Paris Agreement on climate change, the state news agency SPA reported on Saturday.

Saudi Arabia, the world’s biggest crude exporter, will be part of the new “Net Zero Producers Forum,” which will discuss ways to achieve net zero carbon emission targets to limit global warming.

A Ministry of Energy source said Saudi Arabia is committed to the full implementation of the Paris Agreement, SPA reported.

Saudi Arabia’s Crown Prince Mohammed bin Salman has said in the past the kingdom aims to reduce its carbon emissions by generating 50 percent of the country’s energy from renewables by 2030.

US President Joe Biden unveiled plans to cut emissions by 50 percent-52 percent from 2005 levels at the start of a two-day climate summit kicked off on Earth Day and attended virtually by leaders of 40 countries including big emitters China, India and Russia.

“Energy producers are faced with unique responsibilities to furnish the world with the energy it needs to operate; but the climate crisis requires serious leadership and a strong alliance to deliver a path to net-zero,” said Joseph McMonigle, secretary-general of the IEF.

“The International Energy Forum looks forward to helping advance this important initiative in any way we can,” he also added.

The announcement also to establish the forum was day after the Leaders’ Summit on Climate held by US President Joe Biden; where several countries made commitments to deeper reductions in greenhouse gas emissions.

“To achieve our global climate goals we need cooperation from all major emitters; including oil and gas producing nations, to identify and act on solutions to phase out unabated fossil fuel emissions. While reducing emissions to the maximum extent possible in the interim,” the US Department of Energy said in a statement.

“So the US Department of Energy led on creating a new international forum; dedicated to developing long-term strategies to reach global net-zero emissions.”