Saudi Arabia’s leadership in global clean energy advocacy stressed at COP28 

Jean-François Gagne, head of the secretariat at the Clean Energy Ministerial, emphasized the significance of regional harmonization in advancing climate change ambitions. AN Photo
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Updated 30 January 2024
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Saudi Arabia’s leadership in global clean energy advocacy stressed at COP28 

DUBAI: Saudi Arabia is poised to take a leadership role in global forums, leveraging its presence in the G20 and the Clean Energy Ministerial to spotlight regional knowledge and environmental concerns on the world stage, according to a senior executive.   

During the UN Climate Change Conference, COP28, in Dubai, Jean-François Gagne, head of the secretariat at the Clean Energy Ministerial, emphasized the significance of regional harmonization in advancing climate change ambitions.    

“Saudi Arabia has the advantage of being at the G20 table, allowing it to play a leadership role in bringing regional knowledge and environmental concerns to the international table. This is crucial because we need all regions of the world to move forward together,” Gagne told Arab News.     

He added: “When you have regional champions, it really helps making sure that there’s no one that gets left behind in terms of advancing our clean energy goals.”    

Gagne also explained two ways in which regional collaboration can help accelerate ambitions related to climate change. The first involves creating higher demands for common products and technologies.  

“We know there’s going to be a need for brand-new technologies to be able to be deployed more broadly. When you have industry and governments working together in terms of defining what these new technologies will be, you need to be able to show that there will be enough demand for the investment in terms of bringing these new technologies forward,” he said.  

The second involves reducing the costs associated with deploying these technologies.  

“Making sure that the markets between different countries don’t create hurdles to the deployment is going to be important. Regional harmonization plays a significant role in bringing down the cost of deploying those technologies. This, in turn, makes it much easier for policymakers to increase their climate ambition because they know that the technologies will be there at a cost that is reasonable,” he continued.  

Underscoring the importance of harmonization and collaboration, Gagne explained ways in which the private sector could engage more with the public sector.   

“First of all, they need to make sure that when they look at these questions, they don’t look only at their own individual companies’ benefits, but they look at this in terms of a sectoral approach to finding the right solutions,” he said.  

Gagne added: “The second, they can engage in dialogue with governments in terms of what are the real feasible opportunities for governments to drive the demand for these new technologies.”   

During a session discussing the crucial role of regional coordination, Steve Kukoda, vice president and executive director at the International Copper Association, stated that collaboration is crucial to advancing ambition.   

“Regional harmonization really is critical to accelerating actual ambition, and we talked about the first cost barrier. This is a way to bring the cost down, but on multiple levels,” Kukoda said.   

He added: “If you manufacture an air conditioner, you now can sell the same product in 10 countries. You don’t have to have different types of the same air conditioner just to meet the standards of individual countries. So that increases the scale of production and brings down costs.”   

As part of Saudi Arabia’s Vision 2030’s prominent projects, Richard Bush, chief environment officer at NEOM, underlined the giga-project’s mission, as articulated by the chairman, Crown Prince Mohammed bin Salman. The mission is straightforward: to construct the world’s first sustainable and highly livable city.   

“Every city we’ve built has created an unreasonable impact on the environment and an unacceptable level of pollution. And what I’d like to say about this project is that it’s completely transformed,” Bush said.   

He added: “The way we think we’re going to design, live, and function into the future. There is nothing we do on a daily basis that resembles anything we’ve experienced before.”


Arab Energy Fund takes minority stake in Saudi energy firm APSCO 

Updated 15 January 2026
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Arab Energy Fund takes minority stake in Saudi energy firm APSCO 

RIYADH: The Arab Energy Fund has acquired a minority stake in Saudi Arabia’s Arabian Petroleum Supply Co., backing one of the Kingdom’s largest private energy solutions providers as it looks to expand across the Middle East and beyond. 

The investment initiates a partnership aimed at pursuing opportunities across the Middle East, North Africa, and select international markets, covering APSCO’s core and adjacent business sectors. 

The move underscores TAEF’s commitment to investing in established regional leaders while promoting innovation and sustainable growth across the energy value chain. 

According to a press release, the transaction marks The Arab Energy Fund’s first investment of 2026, following an active 2025 during which the fund completed several key deals, including investments in Jafurah Midstream Gas Co. alongside BlackRock and in the platform Tagaddod. 

Khalid Al-Ruwaigh, CEO of The Arab Energy Fund, commented on the deal, saying: “APSCO represents a unique platform with strong fundamentals and a proven track record in critical energy segments.” 

He added: “This investment aligns with our mandate to support high-quality energy and energy-adjacent businesses that are well-positioned to capture growth across the region and beyond.” 

The Arab Energy Fund is a multilateral impact financial institution established in 1974 by 10 Arab oil-exporting countries. 

Mohammed Ali Ibrahim Alireza, managing director, APSCO, said: “We welcome The Arab Energy Fund as a strategic partner supporting our next phase of growth.” 

He added: “As a pioneer in energy solutions for over 60 years, APSCO remains committed to quality, reliability, and innovation, while continuing to contribute to Vision 2030 by enhancing efficiency and minimizing environmental impact.” 

The partnership is designed to bolster APSCO’s long-term growth strategy, operational excellence, and geographic expansion, leveraging TAEF’s regional expertise and institutional network. 

APSCO is a Saudi energy company with more than 60 years of experience in integrated energy solutions, including aviation fuels, lubricants, and a nationwide automotive retail network. 

The company holds long-term partnerships with global energy leaders, including a 60-year relationship with ExxonMobil for lubricant distribution across several Middle Eastern countries. Since 1999, APSCO has also been the exclusive aviation fueling services provider for Saudia.