Saudi Arabia has committed that it will reduce its carbon emissions to net-zero by 2060.
The country, which produces more than a tenth of the world’s crude oil, joins more than 100 nations that have set a net zero target.
Its efforts have been slow so far. The first Saudi renewable energy plant opened in April, and the first wind farm launched in August.
Saudi Green Initiative Forum: Crown Prince Mohammed bin Salman speaks
But it is investing £130billion in methods such as carbon-capture technology to reach its net zero goal and is creating a £4billion hydrogen plant.
The Gulf state will also double its emissions reductions by 2030.
The announcement was made by Crown Prince Mohammed bin Salman ahead of the Cop26 climate conference.
He stated that Saudi Arabia will continue producing oil for decades to follow.
Amin Nasser, the head of Saudi Aramco state oil giant Saudi Aramco (pictured), plans to increase its oil production capacity while also achieving net Zero Emissions from its own operations by 2050
Its net zero target is only for domestic emissions. Therefore, it can continue to import oil and gas.
Amin Nasser is the head of Saudi Aramco’s state-owned oil giant. He aims to increase its oil and gas production while also achieving net zero emission from its own operations by 2050.
It will eliminate 278 million tonnes per year of carbon dioxide emissions by 2030, up from the previous target of 130 millions tonnes.
Mr Nasser stated it was counterproductive to demonise’ hydrocarbons.
He also called on the world to invest more in order to ensure adequate oil supplies.
The Crown Prince made the announcement about the pledge ahead of the Cop26 climate conference
Saudi Arabia’s Crown Prince and Energy Minister said that they would address climate change. However, they also stressed the importance of hydrocarbons and promised to continue to maintain stability on the oil market.
Prince Abdulaziz bin Salman, energy minister, said that the world needs both fossil fuels and renewables.
Another Gulf oil producer, United Arab Emirates announced this month a plan for net zero emission by 2050.
Saudi Arabia’s lowest possible ranking is given by the non-profit Climate Action Tracker consortium, ‘Critically inadequate’.