Climate change discussion needs to be led by logic not emotion, Saudi official says

Minister of State for Foreign Affairs Adel Al-Jubeir speaking at the Global Cybersecurity Forum.
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Updated 02 November 2023
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Climate change discussion needs to be led by logic not emotion, Saudi official says

RIYADH: Climate change discussions have grown increasingly emotional and are often overshadowed by “hypocrisy,” according to a top Saudi official. 

During a fireside chat at the third Global Cybersecurity Forum, Minister of State for Foreign Affairs Adel Al-Jubeir emphasized the urgent need to instill a “logical and rational” mindset to resolve climate change issues scientifically and effectively.  

“We see a lot of emotions when it comes to climate change discussions and we frankly see a lot of hypocrisy, and that doesn’t serve anyone. We have a problem, we need to fix the problem,” Al-Jubeir said. 

He added: “The temperatures are not coming down. The air is not becoming cleaner and no matter how much we argue, we need to roll up our sleeves and work together to solve the problems in a rational and effective manner and we need to do it quickly.” 

Al-Jubeir also emphasized the necessity of international cooperation to tackle global challenges like cybersecurity, climate change, and pandemics. He pointed out that no single country can effectively address these issues in isolation, highlighting the importance of cooperation and collective efforts. 

“It’s very important that we switch confrontation to cooperation and it’s important that we switch competition from being a zero-sum game to being a sum-sum game where everybody benefits,” he said.

Additionally, he highlighted the strategic relationships Saudi Arabia holds with the US and China, underscoring the benefits of cooperation between the world’s two largest economies.
“Both relations will continue to grow and prosper. The international system is better served when there is cooperation between the two largest economies.” 

Furthermore, Al-Jubeir stressed the urgency of keeping pace with rapidly advancing technology.  

To effectively address the challenges arising from this rapid change, he said clear definitions must be established, potential risks identified, and swift action taken to address emerging threats. 

He highlighted various issues tied to cybercrime, including money laundering, extortion, and even cyberbullying, illustrating the need for coordinated international efforts in addressing these challenges.  

A report by cybersecurity firm Group-IB revealed that organizations in Saudi Arabia and the UAE were the most targeted by cyberattacks among GCC countries between mid-2021 and mid-2022. 

“The most important thing is agreeing on definitions, agreeing on areas that need to be addressed, coming up with legal mechanisms to counter those areas, (and) exchanging information with regards to how people take advantage of cyber in order to commit crimes and how and what is the most effective way of dealing with it,” Al-Jubeir explained. 

He further emphasized that these areas should not be as sensitive for national governments as matters directly related to national security, suggesting that ways forward should be identified. 


Venture capital investment will boost Saudi Arabia’s regional leadership in 2025 for the 3rd consecutive year

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Venture capital investment will boost Saudi Arabia’s regional leadership in 2025 for the 3rd consecutive year

RIYADH: The Saudi Venture Capital Co. has announced that venture capital in Saudi Arabia achieved two historic leaps in 2025, in terms of investment volume and number of deals.
 
The Kingdom also reinforced its leading position in the Middle East region for the third consecutive year in terms of venture capital volume, a clear impact of the Saudi Vision 2030.
 
SVC explained that the Kingdom achieved a record number of venture capital deals, with 254 deals, during 2025. It also recorded another historic figure in venture capital volume, reaching $1.66 billion during 2025, compared to no more than $60 million in 2018.
 
This contributed to a 25-fold increase in investment volume since SVC’s establishment and its emergence within the ecosystem, confirming its role as a market maker.
 
CEO and Board Member of SVC, Nabeel Koshak, said: “These figures represent a structural transformation in venture capital. What the Kingdom has witnessed today in the venture capital sector is a result of the unlimited support of the wise leadership for all sectors, which has been translated today into a well-thought-out economic transformation, in which private investment has moved to a more mature stage.”
 
He added: “These figures reflect the strength of the Saudi economy, the clarity of the vision, and the confidence of investors, and confirm that the venture capital system has become a fundamental pillar for economic growth and diversification.”
 
Koshak stated that the volume of investment has increased 25-fold since 2018, achieving record highs in both investment size and the number of deals. This reflects the maturity of the market in terms of the competitiveness of local and regional investment funds, the attractiveness of investing in the Kingdom for global investment funds, and the readiness of companies and the diversity of sectors.
 
The CEO pointed out that venture capital contributes to building companies capable of expansion, provides quality jobs, and transforms innovation into sustainable economic value, in line with the objectives of the Kingdom's Vision 2030.