KSA has potential to fight climate change, says UN official

Tarek Al-Khoury, regional coordinator for climate change at the UN Environment Programme’s West Asia office, said the Kingdom possesses a wide range of resources to improve the ecosystem. AN photo by Huda Bashatah
Short Url
Updated 11 October 2023
Follow

KSA has potential to fight climate change, says UN official

RIYADH: In the battle to combat the climate crisis and bolster environmental conservation, Saudi Arabia’s biodiversity and economic stability present a significant opportunity for improving an alarming situation, a top industry expert has claimed.

Speaking on the sidelines of the Middle East and North Africa Climate Week held in Riyadh, Tarek Al-Khoury, regional coordinator for climate change at the UN Environment Programme’s West Asia office, stated that the Kingdom possesses a wide range of resources to improve the ecosystem.

“We have a huge opportunity to use solar energy systems in the region, unlike Europe, unlike other regions, we have sun all the time,” Al-Khoury told Arab News.

He elaborated further, highlighting that the Kingdom has the potential to effectively address climate change by utilizing natural solutions, noting that the region is at the forefront of carbon capture efforts.

The UN official added: “We have an opportunity to expand this knowledge at the regional level.” 

Given the incorporation of activities such as extensive tree planting, Al-Khoury referred to the Saudi and the Middle East green initiatives as one of the most significant environmental endeavors in the region.

“Those initiatives include working on planting a lot of trees within the context of reducing the greenhouse gas emissions and capturing carbon, at the same time to green the region and to limit the impact of climate change on the region. It’s a very solid initiative if implemented, as promised,” he continued.

He added: “This is a huge opportunity to contribute as well, to reduce the greenhouse gas emission at the global level. If this initiative is implemented as planned, it would reduce 1 percent of greenhouse gas emissions at the global level.”

Al-Khoury told Arab News that climate change is “transboundary work.” This means that the effects of climate change transcend country borders and have a global impact.

He highlighted the key vulnerable elements affected by the crisis, such as water security and heat waves.

“The impact of climate change on the water security in the region. It’s also obvious, we can see it easily in Iraq and Jordan, the bank of the freshwater amount is already decreasing,” he stated.

Al-Khoury continued: “This is affecting a lot of agricultural work and production as well in many countries. While there is a lot of work on mitigation and reusing greenhouse gas emissions, there is a huge need for the region to adapt to climate change to combat it.” 

He called on assessing and understanding what those changes are, pinpointing the key elements susceptible to the effects of climate change, and a need to develop methods for adapting to the impact within these sectors.

Additionally, he emphasized that the event serves as a crucial platform for the upcoming COP28, as the region can unify its position regarding climate negotiations and action.

“It’s also a platform to share knowledge, to share knowledge, progress, and to discuss future opportunity and action at a regional level,” he said.

Al-Khoury also expressed the UNEP’s admiration for how the Gulf Cooperation Council region is pledging to net-zero emissions, as they will continue supporting not only on technical levels but also by “convening all the stakeholders to be part of all endeavor related to climate change.”


Closing Bell: Saudi main index slips to close at 11,228 

Updated 15 February 2026
Follow

Closing Bell: Saudi main index slips to close at 11,228 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64. 

The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.    

On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.    

The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.     

The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.  

Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.   

Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56. 

Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55. 

Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34. 

On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier. 

The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.  

Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent. 

United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent. 

Tas’heel ended the session at SR146.80, down 0.28 percent.