Saudi Arabia commits $2.5bn to Middle East green initiative
Saudi Arabia commits $2.5bn to Middle East green initiative/node/2195371/middle-east
Saudi Arabia commits $2.5bn to Middle East green initiative
Crown Prince Mohammed bin Salman was hosting the summit, being held in tandem with the ongoing COP27 summit in Sharm El-Sheikh, alongside Egyptian president Abdel Fattah El-Sisi. (Screenshot)
Saudi Arabia commits $2.5bn to Middle East green initiative
Second edition of summit convened leaders from across the world in Egypt on Monday
Saudi crown prince was hosting the summit, being held in tandem with ongoing COP27
Updated 07 November 2022
Arab News
SHARM EL-SHEIKH: The second edition of the Middle East Green Initiative Summit convened leaders from across the world in Egypt on Monday.
Hosted by Saudi Arabia's Crown Prince Mohammed bin Salman, the summit discussed climate challenges facing the region, and updated leaders on progress since the inaugural summit in 2021, while also announcing new programs accelerating climate action.
The crown prince was hosting the summit, being held in tandem with the ongoing COP27 summit in Sharm El-Sheikh, alongside Egyptian president Abdel Fattah El-Sisi.
Prince Mohammed said the Kingdom would contribute $2.5 billion to the green initiative in the Middle East over the next 10 years, and host its headquarters.
The crown prince also said the kingdom's Public Investment Fund would aim for net-zero emissions by 2050.
The Middle East Green Initiative aims to reduce carbon emissions from regional hydrocarbon production by more than 60%.
It also plans to plant 50 billion trees across the Middle East and restore an area equivalent to 200 million hectares of degraded land. The initiative will help reduce global carbon levels by 2.5%.
Saudi Arabia plans to rely on renewables for 50% of its electricity generation by 2030, the prince said, removing 44 million tonnes of carbon emissions by 2035, the prince said.
Saudi Arabia had said last year it aimed to contribute 15% of the $10.4 billion required for the fund's clean energy projects.
Trump says ‘hopefully’ no need for military action against Iran
US president said he is speaking with Iran and left open the possibility of avoiding a military operation
An Iranian military spokesman warned Tehran’s response to any US action would not be limited
Updated 2 sec ago
PARIS: US President Donald Trump said on Thursday he hoped to avoid military action against Iran, which has threatened to strike American bases and aircraft carriers in response to any attack. Trump said he is speaking with Iran and left open the possibility of avoiding a military operation after earlier warning time was “running out” for Tehran as the United States sends a large naval fleet to the region. When asked if he would have talks with Iran, Trump told reporters: “I have had and I am planning on it.” “We have a group headed out to a place called Iran, and hopefully we won’t have to use it,” the US president added, while speaking to media at the premiere of a documentary about his wife Melania. As Brussels and Washington dialed up their rhetoric and Iran issued stark threats this week, UN chief Antonio Guterres has called for nuclear negotiations to “avoid a crisis that could have devastating consequences in the region.” An Iranian military spokesman warned Tehran’s response to any US action would not be limited — as it was in June last year when American planes and missiles briefly joined Israel’s short air war against Iran — but would be a decisive response “delivered instantly.” Brig. Gen. Mohammad Akraminia told state television US aircraft carriers have “serious vulnerabilities” and that numerous American bases in the Gulf region are “within the range of our medium-range missiles.” “If such a miscalculation is made by the Americans, it will certainly not unfold the way Trump imagines — carrying out a quick operation and then, two hours later, tweeting that the operation is over,” he said. An official in the Gulf, where states host US military sites, said that fears of a US strike on Iran are “very clear.” “It would bring the region into chaos, it would hurt the economy not just in the region but in the US and cause oil and gas prices to skyrocket,” the official added. ‘Protests crushed in blood’ Qatar’s leader Sheikh Tamim bin Hamad Al-Thani and Iran’s President Masoud Pezeshkian held a call to discuss “efforts being made to de-escalate tensions and establish stability,” the Qatar News Agency (QNA) reported. The European Union, meanwhile, piled on the pressure by designating the Islamic Revolutionary Guard Corps (IRGC) a “terrorist organization” over a deadly crackdown on recent mass protests. “’Terrorist’ is indeed how you call a regime that crushes its own people’s protests in blood,” said EU chief Ursula von der Leyen, welcoming the “overdue” decision. Though largely symbolic, the EU decision has already drawn a warning from Tehran. Iran’s military slammed “the illogical, irresponsible and spite-driven action of the European Union,” alleging the bloc was acting out of “obedience” to Tehran’s arch-foes the United States and Israel. Iranian officials have blamed the recent protest wave on the two countries, claiming their agents spurred “riots” and a “terrorist operation” that hijacked peaceful rallies sparked over economic grievances. Rights groups have said thousands of people were killed during the protests by security forces, including the IRGC — the ideological arm of Tehran’s military. In Tehran on Thursday, citizens expressed grim resignation. “I think the war is inevitable and a change must happen. It can be for worse, or better. I am not sure,” said a 29-year-old waitress, speaking on condition of anonymity for fear of reprisals. “I am not in favor of war. I just want something to happen that would result in something better.” Another 29-year-old woman, an unemployed resident of an upscale neighborhood in northern Tehran, said: “I believe that life has highs and lows and we are now at the lowest point.” Trump had threatened military action if protesters were killed in the anti-government demonstrations that erupted in late December and peaked on January 8 and 9. But his more recent statements have turned to Iran’s nuclear program, which the West believes is aimed at making an atomic bomb. On Wednesday, he said “time is running out” for Tehran to make a deal, warning the US naval strike group that arrived in Middle East waters on Monday was “ready, willing and able” to hit Iran. Conflicting tolls The US-based Human Rights Activists News Agency (HRANA) said it has confirmed 6,479 people were killed in the protests, as Internet restrictions imposed on January 8 continue to slow verification. But rights groups warn the toll is likely far higher, with estimates in the tens of thousands. Iranian authorities acknowledge that thousands were killed during the protests, giving a toll of more than 3,000 deaths, but say the majority were members of the security forces or bystanders killed by “rioters.” Billboards and banners have gone up in the capital Tehran to bolster the authorities’ messages. One massive poster appears to show an American aircraft carrier being destroyed.