Saudi Arabia uses Stockholm+50 conference as showcase for its efforts to protect the environment

Representatives of Saudi Arabia participate in the two-day Stockholm+50 conference in the Swedish capital. (Twitter: @MEWA_KSA)
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Updated 04 June 2022
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Saudi Arabia uses Stockholm+50 conference as showcase for its efforts to protect the environment

  • The two-day international meeting was convened by the UN General Assembly in the Swedish capital 50 years after an early environmental gathering in the Swedish capital
  • The Kingdom’s delegation highlighted the roles of the Saudi Green and Middle East Green initiatives in working to achieve sustainable development and confront the challenges of climate change

RIYADH: Saudi Arabia on Friday highlighted the local and global efforts it is making to protect and preserve the environment, including numerous programs and initiatives designed to achieve its national environment strategy.

It came during the two-day Stockholm+50 conference, at which the Kingdom’s delegation was headed by Abdulrahman Al-Fadhli, the minister of environment, water and agriculture, and Ali Al-Ghamdi, the CEO of the National Center for Environmental Compliance.

Saudi authorities said that their initiatives are also designed to help achieve the objectives of the UN’s Sustainable Development Goals and confront the challenges of climate change, as they stressed the importance of international cooperation in taking the necessary action to secure a better future.

The conference, which began on Thursday, was an international meeting convened by the UN General Assembly in the Swedish capital under the slogan A Healthy Planet for the Prosperity of All — Our Responsibility, Our Opportunity. It took place 50 years after an early environmental gathering in the Swedish capital.

Speaking during the conference, Al-Ghamdi affirmed the Kingdom’s desire to make every effort to achieve the objectives of the country’s national strategy for the environment and its protection. He highlighted the roles of the Saudi Green and Middle East Green initiatives in working to achieve sustainable development and confront the challenges of climate change.

He said the Kingdom believes in the need to guarantee human progress and prosperity, the safety of the planet, and the role of the international community. He also noted that the Kingdom’s ambitious Vision 2030 development and diversification agenda is working to protect, enhance and sustain the country’s natural environment by adopting a holistic view of its ecosystems.

The national environment program was launched to raise the level of environmental commitment in all developmental sectors, reduce pollution and its negative effects on the environment, develop natural vegetative cover, combat desertification, protect wildlife, preserve biodiversity, and transform the waste sector from a linear economy to a circular economy, Al-Ghamdi added.

This is being done by enhancing the participation of the private sector by encouraging improvements to services and stimulating innovation, as well as by raising environmental awareness among the public and strengthening the role of the non-profit sector, he said.

Al-Ghamdi highlighted to the important leadership role of the Kingdom through its presidency of the G20 in 2020, and the statement made by the group’s leaders during the their annual meeting hosted by Riyadh that year, in which they agreed to the aim of voluntarily reducing global land degradation by 50 percent by 2040. To this end they launched a global initiative to enhance the protection of wild habitats, restore land and prevent its deterioration, along with a global initiative to preserve coral reefs. He added that his country is cooperating with the other G20 member states to implement the two initiatives.

In addition, Saudi Arabia has raised the level of its national contribution to climate action by pledging to reduce emissions by 278 million tons annually by 2030, he added, which is more than double the amount previously announced in 2015.

Saudi authorities have launched many initiatives, Al-Ghamdi said, including plans for half of the Kingdom’s domestic energy needs to be provided by renewable energy sources, and to take advantage of carbon capture and storage technologies.

The Kingdom has also announced the target of reaching carbon neutrality by 2060 through a circular carbon economy approach, and joined the Global Methane Pledge, which aims to reduce global methane emissions by 30 percent compared with 2020 levels.


Saudi Arabia, Japan officials discuss investment ties

Updated 36 min 31 sec ago
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Saudi Arabia, Japan officials discuss investment ties

DUBAI: Saudi Arabia’s Ambassador to Japan Dr. Ghazi Binzagr met with Nobuyori Kodaira, chairman of the Japan Cooperation Center for the Middle East, on Thursday in Tokyo to discuss improving mutual investments.

The two officials highlighted the role that the JCCME plays in supporting Japan’s investments in Saudi Arabia, in sectors including healthcare, industry and entertainment.

The JCCME set up its regional headquarters in Riyadh in the 1990s. It now has an office in Dammam with an investment desk, while a water desk has been opened in Jeddah.

In 2018, the JCCME set up an investment-promotion scheme to fulfil the aims of the Saudi-Japan Vision 2030, within the framework of the Saudi Vision 2030 plan.


L’Oréal Middle East launches women upskilling project in Saudi Arabia

Updated 39 min 3 sec ago
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L’Oréal Middle East launches women upskilling project in Saudi Arabia

  • L’Oreal Middle East inks pact with Kingdom’s Himayah Organization
  • The initiative aims to help 600 women prepare for the workplace

DUBAI: As it celebrates its 25th anniversary, L’Oreal Middle East has signed an agreement with the Himayah Organization in Saudi Arabia to support its “Safe Homes” initiative, which seeks to provide skills training for more than 600 women.

“The project aims to have a lasting long-term impact through psychological support and skill training,” said Laurent Duffier, CEO of L’Oreal Middle East, in an interview with Arab News en Francais.

Over the past 25 years, L’Oreal has assisted 25,000 women in the region.

L’Oreal launched its Hairdressing Academy in Riyadh and Dammam in 2023, to upskill and integrate women in the workforce, recording a 70 percent employment rate in this growing beauty segment in Saudi Arabia. The program is expected to create 15,000 jobs for Saudi women.

The flagship “L’Oreal for Women in Science” program invested over $925,000 in endowments to support 51 female Arab scientists over the past decade and advocate for gender equality in STEM, or science, technology, engineering and mathematics.

In addition, the firm’s “Stand Up Against Street Harassment” project trained more than 11,000 participants on countering gender-based violence.

Laurent Duffier, CEO of l'Oreal Middle East and Dr. Sameera Alghamdi, chairwomen of Himayah Organization announcing the MOU signature during the L'Oreal Middle East 25th anniversary event. (Supplied)

While the brand’s products have been distributed in the region since the 1960s, L’Oreal opened its first subsidiary in the Middle East in 1998, and currently serves 10 markets.

Today, the group is moving toward its 2030 sustainability, innovation and technology goals by engaging stakeholders across the supply chain, including consumers and startups, through strategic partnerships.

L’Oreal aims to foster innovation by investing in the startup ecosystem, the latest being the partnership with Astrolabs that launched the “L’Oreal Tech Quest Challenge” earlier in April 2024.

“The future is for beauty tech, tackling current industry challenges and augmenting the impact of L’Oreal’s solutions. ‘L’Oreal Tech Quest Challenge’ awarded a group of winners whose work will be incorporated in developing tools and best practices across the SAPMENA (South Asia Pacific - Middle East - North Africa) region,” said Duffier.

The region is home to a growing startup ecosystem. “LEAP in Saudi Arabia held in March reflects the growing entrepreneurial and creative energy in the Kingdom,” he added.

This is particularly important in the Middle East, where the beauty industry is recording one of the highest growth rates globally.

The GCC market ranks among the top 10 beauty markets worldwide, valued at $11.7 billion in 2024. Since the COVID-19 pandemic, the market has grown by 10 percent, fueled by underlying macroeconomic trends.

“Non-oil GDP in the GCC is growing at 4 to 5 percent while growing at less than 1 percent in Europe. The inflow of high-net-worth individuals had a positive impact on the luxury market in the UAE. While demand for beauty, particularly in Saudi Arabia, tripled during the last three years with the rise in women’s access to the workforce, and increase in disposable income,” said Duffier.

“The quality of retail execution, and the growth of new beauty concepts in the Kingdom, are factors boosting the market in the region, further enhanced by the growth in e-commerce,” he added.

According to a Boston Consulting Group report, in 2020 the Kingdom’s e-commerce share of total retail was 6 percent. This was far behind mature e-commerce markets and the worldwide average of 18 percent, but was 60 percent higher than the Kingdom’s 2019 share. It has been forecast that there will be double-digit growth post-COVID-19, with market value expected to exceed $13.3 billion by 2025.

“Saudi Arabia displays accelerated growth across segments. Efforts to diversify the economy are clear. It is the biggest economy in the region, with the highest potential, and it is a priority market for L’Oreal,” said Duffier.

This is particularly important in the Middle East, where the beauty industry is recording one of the highest growth rates globally. (Supplied)

The offer-driven beauty and personal care market is expected to continue to be led by product innovation and beauty technology, for better end-user results, he said.

“We are launching Melasyl, after 18 years of R&D. A breakthrough ingredient for skin care treatments, among other applications,” said Duffier.

With lipstick used 5,000 years ago in Mesopotamia, Duffier describes the Middle East as the “cradle of beauty and a region that defines beauty trends.” The region has a diverse customer base, covering the full spectrum of skin and hair colors, is shifting toward digital platforms, and more sustainable consumption.

“We are working with startups to offer sustainable innovative products, with 70 percent of consumers opting for sustainable products,” said Duffier.

“We are no longer a beauty company, but a beauty tech company. Anchored in innovation and sustainability, the objective remains beauty for all. The future of beauty will be increasingly personalized to create beauty that moves the world, and most importantly to create beauty that moves the Middle East,” he said.

The quest for sustainability is also a byproduct of the reconciliation between beauty and tech, developed and implemented across the various segments: hair care (Airlight pro), derma cosmetics, the latest being La Roche-Posay’s diagnostic virtual reality tools, and make-up applications in collaboration with Microsoft.

“By applying green science, 95 percent of products’ ingredients will be bio-based and traceable to natural green-science formulations by 2030,” he said.

Advancing toward its sustainability targets, the “L’Oreal for the Future” program aims to reduce carbon dioxide emissions at all sites, and move to renewables, waste management and water treatment by 2030.

L’Oreal Middle East expects a 50 percent reduction in distribution-related carbon dioxide emissions, and a 70 percent reduction in water consumption with the introduction of Gjosa shower heads in hair salons.

Set to launch in the region this year, the latter is expected to target 500 salons per year, for a total yearly saving of 35 million gallons of water.

This is in addition to the recycling of 340 tonnes of waste over the past two years in Saudi Arabia, which is a Garnier initiative in collaboration with Panda and Naqaa Solutions.


Saudi cultural attache in Japan receives Jeddah University delegation

Updated 25 April 2024
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Saudi cultural attache in Japan receives Jeddah University delegation

DUBAI: Saudi Arabia’s cultural attache in Japan hosted on Thursday a delegation from Jeddah University, led by the institution’s Vice President for Academic Affairs and Development Dr. Monagi bin Hassan Al-Kanaani.

Dr. Anas Ahmed, Jeddah University’s dean of the College of Engineering, and Dr. Mohammed Kalkatawi, director of the Data Management Office at the institution, were part of the delegation.

 

 

Badr Al-Otaibi, director of the office of the Saudi Arabia cultural attache in Japan, received the delegation.

The officials discussed their visits to several Japanese universities to explore cooperation opportunities and sign student-exchange agreements.


How Vision 2030 is transforming Saudi Arabia into a globally competitive economy

Updated 12 sec ago
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How Vision 2030 is transforming Saudi Arabia into a globally competitive economy

  • From efficiency and economic performance to infrastructure and cybersecurity, the Kingdom is a desirable place to do business
  • Strides in transport, logistics and financial markets have boosted the Kingdom’s global competitiveness

RIYADH: What extraordinary feats did Saudi Arabia accomplish to see itself ranked ahead of China, Germany and the UK on a global measure of economic competitiveness?

On its eighth anniversary, Saudi Vision 2030 has reached several remarkable milestones and made steady progress since its inception by Crown Prince Mohammed bin Salman, revealing a transformative journey that continues to reshape the Kingdom’s future.

Vision 2030 has crossed several milestones and made steady progress since its unveiling by Crown Prince Mohammed bin Salman in 2016. (SPA photo)

“It is an ambitious yet achievable blueprint, which expresses our long-term goals and expectations and reflects our country’s strengths and capabilities,” the crown prince said at Vision 2030’s launch in 2016. 

“All success stories start with a vision and successful visions are based on strong pillars.” 

According to a competitiveness report by the Swiss-based International Institute for Management Development, the Kingdom ranks third among G20 nations on this metric, and 17th among all countries.

Just what are the achievements the Kingdom has made to secure this high global ranking among competitive countries?

According to the latest annual Vision 2030 bulletin, Saudi Arabia achieved significant progress in four competitiveness factors evaluated in the report. 

It leaped to sixth place in economic performance, advanced to 11th in government efficiency and 13th in business efficiency, while holding steady at 34th in infrastructure ranking.

Other performances include that the Kingdom is third among G20 countries, fifth globally in the financial market index, and second in the cybersecurity indicator.

PIF: An investment powerhouse

As the most crucial driver of economic diversification and the revitalization of vital sectors, the Public Investment Fund possesses leading investment portfolios.

These are designed to direct investments toward diversifying the economy, developing infrastructure, stimulating innovation, and strengthening global economic ties.

The Oxagon, located on the Red Sea in the Kingdom's northwest province of Tabuk, is being built as a home to advanced and clean industries in NEOM. (Supplied)

The fund has broadened its portfolio to encompass promising sectors with significant growth potential, covering everything from tourism and entertainment to financial technology, gaming, and sports. 

Its investment competence has swiftly increased, positioning PIF as a global leader in capitalizing on economic opportunities at both national and international levels.

Men walk at the campus of the King Abdullah University of Science and Technology in Thuwal. (Supplied)

Transport infrastructure

The transportation sector is crucial for sustainable development and plays a key role in improving safety by enhancing roads and implementing advanced transportation systems. 

These efforts help reduce road accidents, injuries, and fatalities, creating a safer environment and boosting overall quality of life — all part of the goals of the National Transport Strategy, within the framework of Vision 2030.

The report outlined traffic safety indicators and highlighted that the road fatality rate dropped from 28.8 per 100,000 people in 2016 to 13.3 by 2022.

It also noted that the injury rate fell to 71.67 injuries per 100,000 individuals in 2022.

Competitive financial market

Saudi Arabia’s financial market has experienced significant growth and activity since Vision 2030 was announced, demonstrating the strength and robustness of the Kingdom’s financial sector.

The Kingdom was ranked fifth globally — and third among G20 countries — in the Financial Markets Index, according to the 2023 International Competitiveness Yearbook by the World Competitiveness Center.

The number of financial technology entities in 2023 reached 216, far exceeding the target of 150. This indicates rapid growth and development in the financial technology sector.

Furthermore, the number of listings in the financial market for 2023 reached 43, surpassing the target of 24, indicating increased interest from companies to list on the market.

This growth is a positive sign of investor confidence and the attractiveness of the market for public offerings, as the total number of listed companies is now 310, indicating a diverse and extensive market.

A high percentage of micro and small enterprises listed on the market, at 76.7 percent compared to the target of 44 percent, demonstrates that even smaller businesses are finding opportunities to go public, according to the report.

Saudi Arabia’s story of transformation has many authors, including the government, Saudi citizens, the private sector, and international partners.

In 2023, their combined efforts made Saudi Arabia an even better place to live, work, and visit. 

Together, they are writing the next chapter in 2024 — a year of unrivaled opportunity for the Kingdom and anyone who wants to be part of the story.
 

 


Saudi Arabia welcomes independent committee’s report on UNRWA’s performance

Updated 24 April 2024
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Saudi Arabia welcomes independent committee’s report on UNRWA’s performance

  • Saudi Ministry of Foreign Affairs stresses importance of the commitment of donor countries to the organization

RIYADH: Saudi Arabia has welcomed an independent committee’s report on the performance of the UN Relief and Works Agency for Palestine Refugees, the Saudi Press Agency reported on Wednesday.
The Saudi Ministry of Foreign Affairs said the Kingdom backed the report, which confirmed UNRWA’s main role in supporting the relief, humanitarian and developmental efforts of the Palestinian people.
The ministry further reiterated Saudi Arabia’s emphasis on the importance of the commitment of donor countries to UNRWA to ensure the sustainability and effectiveness of all forms of support for refugees in a way that reduces their suffering, especially in light of the Israeli occupation’s continued violations of international law and international humanitarian law.