RIYADH: Saudi Arabia has garnered strong interest from British investors in its renewable energy sector and sustainable infrastructure, aligning with its Vision 2030 for green initiatives in environmental projects.
This came at the UK-Saudi Sustainable Infrastructure Summit in London on June 24, where opportunities within the Kingdom’s top five projects — NEOM, Qiddiya, the Red Sea Project, ROSHN, and Diriyah — were highlighted, the Saudi Press Agency reported.
These initiatives are part of the Kingdom’s broader commitment to ambitious climate goals, which include reducing carbon emissions by 278 million tonnes annually by 2030 and increasing renewable energy generation capacity by 50 percent.
Hosted by the Saudi British Business Council in collaboration with the Saudi Chambers of Commerce and City of London Corporation, the summit brought together over 250 leaders from the industry and financial sectors of both countries, along with key representatives from these giga-projects.
The event also placed a strong emphasis on financing and green technologies in an effort to achieve net-zero emissions.
Discussions focused on the significance of Saudi-British cooperation in sustainable infrastructure development, advancing toward net-zero emissions, bridging investment gaps, and the role of public-private partnerships.
It also focused on innovative financing models including green bonds and sustainability-linked loans, as well as smart urban planning to achieve sustainability goals and implement large-scale projects using innovative low-carbon technologies.
The Saudi British Business Council, the Saudi British Sports Investment Forum, and the real estate and finance sectors held sector-specific working group meetings after the summit to discuss ambitious plans for developing the sports sector and investment landscape in the Kingdom and the UK.
A high-level delegation from the Kingdom, led by the Federation of Saudi Chambers and the Ministry of Investment, attended the event.
During his participation, the Minister of Investment Khalid Al-Falih discussed in a panel session the strategic partnership between the two countries in sectors of mutual interest and the development of the investment environment since the launch of Saudi Vision 2030.
The summit came at a time when the two nations’ economic relations are expanding, and the UK is Saudi Arabia’s 25th largest commercial partner.
In late 2022, both nations signed an agreement to strengthen their collaboration in green finance as the Kingdom increasingly seeks support for its massively transformative projects.
