Saudi green efforts paying off as Kingdom ranks first globally in renewable production 

Saudi Arabia also ranked first in the Arab world, and 20th globally in terms of carbon dioxide emissions reduction. (Supplied)
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Updated 28 March 2023
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Saudi green efforts paying off as Kingdom ranks first globally in renewable production 

RIYADH: Saudi Green Initiative has started reaping the results as the Kingdom has been ranked first globally in renewable energy production, according to the latest Green Future Index report.

Saudi Arabia’s Ministry of Energy announced that the Kingdom has also advanced 10 places in the overall ranking of the Green Future Index to garner the 51st spot — a milestone achievement made just two years after the launch of the SGI by Crown Prince Mohammed bin Salman.

The Green Future Index ranking is published by the Massachusetts Institute of Technology in the US, and it is widely considered one of the most authentic reports that signal the progress made by countries in terms of sustainability.

Saudi Arabia also ranked first in the Arab world, and 20th globally in terms of carbon dioxide emissions reduction.

The SGI is considered one of the most effective plans adopted by any country to fight climate change. Under this program, 10 billion trees will be planted in the Kingdom to revive the health of the environment.

Since the launch of the SGI, Saudi Arabia has planted 18 million trees within the Kingdom and of those 13 million are mangroves.

Under the goals outlined in SGI, Saudi Arabia is also eyeing to achieve the target of placing 30 percent of its land and sea territory under protection by 2030.

Regionally, the SGI plans to plant 50 billion trees across the Middle East and restore an area equivalent to 200 million hectares of degraded land, which will in turn reduce global carbon levels by 2.5 percent.

Apart from planting trees to ensure sustainability, the SGI is also steadily steering the Kingdom to become a global leader in carbon capture technology and renewable energy production.

Earlier in March, a report released by S&P Global revealed that Saudi Arabia and the UAE are leading the region’s fight against climate change by producing 90 percent of the Gulf’s renewable energy.

According to S&P Global, installed solar capacity in the two countries surged from 165 megawatts in 2016 to 3 gigawatts by the end of 2021.


Saudi Cultural Development Fund signs credit facility agreements to support 5 establishments worth over $16.7m

Updated 59 min 35 sec ago
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Saudi Cultural Development Fund signs credit facility agreements to support 5 establishments worth over $16.7m

RIYADH: The Saudi Cultural Development Fund has signed five credit facility agreements under its “Cultural Financing” program, totaling over SR63 million ($16.7 million), to finance several cultural projects.

This took place during the Development Finance Conference Momentum 2025, organized by the National Development Fund at the King Abdulaziz International Conference Center in Riyadh.

These facilities aim to support the growth of a distinguished group of cultural projects targeting four sub-sectors: architecture and design, theater and performing arts, music, and visual arts.

These undertakings focus on several areas, including supporting the infrastructure of cultural sectors, such as establishing a music institute and a creative complex, in addition to providing support services and developing national talents and expertise.

It is worth noting that among the projects included in these credit facilities is the “Sifr Creative Group,” an innovative cultural destination that embraces creative individuals and provides a comprehensive environment for production and development.

The complex contributes to strengthening the cultural infrastructure through an integrated system that supports creative work and programs dedicated to empowering talent and the sector, serving as a platform that enriches the cultural landscape and opens broader horizons for innovation and local production

The Cultural Development Fund signed these credit facilities as part of its role as a center for financial empowerment in the cultural sector. The initiative supports micro, small, and medium enterprises to help diversify the national economy, develop cultural talent, and enhance quality of life in line with the Kingdom’s Vision 2030 and the Sustainable Development Goals.

The signing of these credit facilities by the Cultural Development Fund comes within its role as a center of excellence and financial empowerment in the cultural sector. This initiative also forms part of the fund’s broader efforts to support micro, small, and medium enterprises, to enhance their role in diversifying the national economy, developing cultural talent, and raising the quality of life; contributing to achieving the Sustainable Development Goals under the umbrella of the Kingdom’s Vision 2030.