RIYADH: As Saudi Arabia prepares to host the 16th Conference of the Parties to the UN Convention to Combat Desertification, it is also taking significant strides toward environmental stewardship.
The National Center for Vegetation Cover Development and Combating Desertification is organizing the International Exhibition and Forum on Afforestation Technologies’ second annual “Greening Arabia” event, which will run from Dec. 2-13.
The event promises to be a vibrant hub of innovation and collaboration, featuring participation from government bodies, private enterprises, non-profit organizations, and leading experts from around the globe.
Attendees will include prominent local and international companies specializing in cutting-edge afforestation technologies, making it a unique opportunity to explore the latest advancements in combating desertification and drought.
IEFAT is a pivotal platform for discovering new environmental, economic, and knowledge-based opportunities.
The forum fosters strategic partnerships that can drive impactful change by bringing together diverse stakeholders — from environmental and renewable energy industries to sustainable enterprises and non-profits.
“Greening Arabia” aims to harness advanced technologies to enhance afforestation in arid environments and rehabilitate degraded lands.
The event will encourage participation in the Saudi Green Initiative, empowering local and international communities to embrace afforestation as a vital practice. It will also showcase innovative tools and methodologies, giving specialized companies the chance to present their groundbreaking products and projects.
Participants will engage in discussions on best practices in environmental economics, creating a shared vision for a sustainable future. The forum will identify investment opportunities in greening technologies and vegetation cover.
The COP16 president, Saudi Arabia’s Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadley, said: “This is a pivotal moment for our planet. Land restoration is vital to securing a prosperous future for generations to come.”
He made his statement at the “Road to Riyadh” event on the sidelines of the UN General Assembly on Sept. 27.
“It is crucial the international community unites to deliver ambitious and lasting solutions that curb land degradation, combat drought, and promote the sustainable use of natural resources,” added Al-Fadley.
He noted that Saudi Arabia’s hosting of COP16 reflects its commitment to both domestic and international environmental preservation and restoration, highlighting the Saudi Green Initiative, the Middle East Green Initiative, and the G20 Global Land Initiative.
‘Greening Arabia’ offers pioneering forum for a sustainable future
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‘Greening Arabia’ offers pioneering forum for a sustainable future
- The event promises to be a vibrant hub of innovation and collaboration
Saudi Arabia looks to become carbon trading hub for Global South
- Kingdom eyes partnerships with Asian companies
TOKYO: Saudi Arabia is looking to become a carbon trading hub for the Global South and is eyeing partnerships with Asian companies to trade on its exchange, Japan’s Nikkei newspaper has reported.
Saudi Arabia’s Voluntary Carbon Market recently signed a memorandum of understanding with Japanese trading house Marubeni “for collaboration on carbon markets,” and has also linked up with Climate Bridge International, a Singapore-headquartered carbon finance company, as an advisory partner.
Fadi Saadeh, acting CEO of Saudi Arabia’s Voluntary Carbon Market company, said it was important for Saudi Arabia to have a market to trade carbon credits that arise from the phasing out of coal.
A carbon credit represents a tonne of CO2 or CO2-equivalent greenhouse gases reduced or removed by verified projects like reforestation or carbon removal schemes. In the voluntary carbon market, companies can buy the credits to offset their emissions to meet their net-zero goals, while the sellers of the credits can use the funds received to invest in more green projects.
VCM was set up in 2022 by Saudi Arabia’s Public Investment Fund and the Saudi Tadawul Group, the country's exchange operator.
Saadeh said VCM was geographically well located to capture demand from the Global South and could leverage existing relationships and investments that companies like Saudi Aramco have forged over the years.
“In Saudi Arabia three years ago there were zero project developers for carbon credits,” Saadeh said. “Today, because of VCM and the ecosystem around the world, we have more than 25 project developers in Saudi Arabia.” He added that the energy transition would take time.
