Saudi energy minister blasts COP26 ‘lies’

Prince Abdulaziz bin Salman strongly defended Saudi Arabia’s track record in combating global warming. (AP Photo)
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Updated 18 November 2021
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Saudi energy minister blasts COP26 ‘lies’

  • Prince Abdulaziz bin Salman defends Saudi track record in combating ‘universal phenomenon’ of climate change

DUBAI: The Saudi energy minister hit out on Wednesday at “lies” and “fabrications” over the Kingdom’s stance at the COP26 climate change summit in Glasgow.

After a speech in which he strongly defended Saudi Arabia’s track record in combating global warming, Prince Abdulaziz bin Salman was asked about “serious allegations” that the Kingdom had been blocking negotiations at the meeting.

He replied: “These are not serious allegations, these are fabricated allegations.” Asked if the allegations amounted to lies, he said: “Absolutely.”

Greenpeace, the environmental activist group with a history of animosity toward the Kingdom, made unsubstantiated claims this week that Saudi negotiators had obstructed progress at key meetings in Glasgow. Saudi negotiators have told Arab News the claims were “baseless and inaccurate.”

In his COP26 speech, a defiant Prince Abdulaziz mounted a plea for an unbiased and objective assessment of possible solutions to the urgent issue of global warming. The world was facing a “universal phenomenon” that required “an international, shared and effective response,” he said. “That response should address three main pillars: Energy security, economic development for the benefit of humanity, and climate change. All of these pillars must be addressed in a holistic manner, without compromising one for the sake of another.

“It is imperative that we recognize the diversity of climate solutions, and the importance of emissions reduction as stipulated in the Paris Agreement, without any bias toward or against any particular source of energy.”

The Kingdom had taken radical steps in the past month to address climate change issues at home and internationally, Prince Abdulaziz said, with key 53 initiatives at a projected cost of $185 billion.

He said the Kingdom shared the view that efforts had to be renewed to reach the goals of the Paris Agreement, but “we all should keep in mind the principle of shared, yet distinct, responsibilities among different countries.

“Equally, we should all be conscious of the special circumstances of the less developed countries, and we should work together to help these countries mitigate the impact of climate change policies, without compromising their sustainable development.”

The Saudi Green Initiative and the broader Middle East Green Initiative aim to reduce regional emissions by more than 10 per cent of the total, a disproportionate amount given relatively small populations and economies in global terms.

The Kingdom has more than doubled the targets for emission reduction in the past decade, and set a target of net zero carbon emissions by 2060 — faster than some much bigger energy economies — via the framework of the Circular Carbon Economy.

Other initiatives include phasing out oil from domestic energy generation, billions of dollars of investment in renewable and alternative fuels such as solar and hydrogen, and a global campaign to provide clean cooking fuel to more than 750 million people around the world.

“This will help ensure that the Kingdom maintains and enhances its leadership role in promoting the security and stability of energy markets,” Prince Abdulaziz said.


Saudi POS spending jumps 28% in final week of Jan: SAMA

Updated 06 February 2026
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Saudi POS spending jumps 28% in final week of Jan: SAMA

RIYADH: Saudi Arabia’s point-of-sale spending climbed sharply in the final week of January, rising nearly 28 percent from the previous week as consumer outlays increased across almost all sectors. 

POS transactions reached SR16 billion ($4.27 billion) in the week ending Jan. 31, up 27.8 percent week on week, according to the Saudi Central Bank. Transaction volumes rose 16.5 percent to 248.8 million, reflecting stronger retail and service activity. 

Spending on jewelry saw the biggest uptick at 55.5 percent to SR613.69 million, followed by laundry services which saw a 44.4 percent increase to SR62.83 million. 

Expenditure on personal care rose 29.1 percent, while outlays on books and stationery increased 5.1 percent. Hotel spending climbed 7.4 percent to SR377.1 million. 

Further gains were recorded across other categories. Spending in pharmacies and medical supplies rose 33.4 percent to SR259.19 million, while medical services increased 13.7 percent to SR515.44 million. 

Food and beverage spending surged 38.6 percent to SR2.6 billion, accounting for the largest share of total POS value. Restaurants and cafes followed with a 20.4 percent increase to SR1.81 billion. Apparel and clothing spending rose 35.4 percent to SR1.33 billion, representing the third-largest share during the week. 

The Kingdom’s key urban centers mirrored the national surge. Riyadh, which accounted for the largest share of total POS spending, saw a 22 percent rise to SR5.44 billion from SR4.46 billion the previous week. The number of transactions in the capital reached 78.6 million, up 13.8 percent week on week. 

In Jeddah, transaction values increased 23.7 percent to SR2.16 billion, while Dammam reported a 22.2 percent rise to SR783.06 million. 

POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.  

The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.  

The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.