Saudi Arabia foreign minister urges a balanced energy transition at G20 Summit session

1 / 3
Saudi Arabia's foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday. (SPA)
2 / 3
Saudi Arabia's foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday. (SPA)
3 / 3
Saudi Arabia's foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday. (SPA)
Short Url
Updated 19 November 2024
Follow

Saudi Arabia foreign minister urges a balanced energy transition at G20 Summit session

  • Prince Faisal outlined three pillars for effective energy transition during a discussion at the G20 Summit

RIO DE JANEIRO: Saudi Arabia’s foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday, Saudi Press Agency reported.

Prince Faisal was leading the Kingdom’s delegation during a session titled “Sustainable Development and Energy Transition,” SPA added.

Energy security represented a global challenge and an obstacle to development and poverty eradication, the minister said, calling for energy plans that considered each country’s circumstances and development needs.

Prince Faisal outlined three pillars for effective energy transition: Ensuring energy security, maintaining access to affordable energy, and achieving environmental sustainability.

He said that the transition required significant investment and time to maintain market stability while ensuring fairness and inclusivity.

Prince Faisal also highlighted the role of technological innovation in managing emissions and environmental impacts.

He said that Saudi Arabia’s investments in innovative technologies had resulted in one of the world’s lowest emissions intensity rates in oil and gas operations, adding that the Kingdom was also advancing its renewable energy goals, aiming for 50 percent of electricity generation from renewables by 2030.

Prince Faisal added that the Kingdom was also expanding its clean hydrogen production and implementing the circular carbon economy framework to repurpose emissions into valuable products.

During his address, the prince also outlined Saudi Arabia’s commitment to global sustainability through its flagship initiatives, the Saudi Green and Middle East Green programs, which are tailored to the country’s development needs.

He called for enhanced international cooperation to ensure energy transitions were equitable, inclusive and supportive of global development goals.

Prince Faisal expressed Saudi Arabia’s appreciation for Brazil’s leadership of the G20 in 2024 and extended well wishes to South Africa as it assumes the presidency in 2025, SPA reported.


Healthcare must be ‘proactive’ says Hevolution exec

Updated 4 sec ago
Follow

Healthcare must be ‘proactive’ says Hevolution exec

  • Princess Dr. Haya bint Khaled bin Bandar Al-Saud spoke to Arab News at a presentation of its second Global Healthspan Report

RIYADH: Healthcare needs to shift to a global model that targets preventing disease rather than treating it, a senior executive from the Saudi-funded Hevolution Foundation told Arab News.

The senior vice president of research of Hevolution, Princess Dr. Haya bint Khaled bin Bandar Al-Saud, spoke to Arab News at a presentation of its second Global Healthspan Report at the nonprofit’s headquarters in Riyadh’s KAFD on Wednesday.

“People have to be aware, healthcare has to change its way of thinking, because it’s a must,” she said. “We cannot be reactive anymore, we have to be proactive.

“And this has to start earlier in the education of health professionals, and third, someone needs to take this to the global agenda. The general public needs to know that this is a reality.” 

Launching its report, Hevolution called for urgent global action to treat healthy aging as an economic imperative, where prevention, not disease, drives prosperity.

The organization focuses on healthspan research, or extending the healthy human lifespan.

The findings of the report centered around five main areas; rising awareness and public demand, breakthrough science and new therapies, AI and data revolution, investment momentum and gaps and economic and policy imperatives.

The report detailed the momentum of a new healthspan era where science, technology and public awareness are converging, but momentum alone is not enough.

Al-Saud explained that achieving equitable and evidence-based progress would require coordinated leadership from scientists, policymakers and investors alike.

“Today, science and societal cause has to be integrated, meaning the public needs to know that everything that we are investing in is for the general population, not just on a local level but on a global level,” she said.

The report surveyed 23 countries on the awareness of healthspan, which found that two-thirds of healthcare professionals now receive patient inquiries about healthspan interventions at least once a month, with one-third reporting them weekly.

Al-Saud highlighted that the report also found that 80 per cent of citizens believed governments should fund preventive care programs, while 39 per cent expressed concern about inequality in access.

“Awareness is the most important thing. This subject touches every single one of us, every single one of us has a story that this relates to, whether a grandparent, sick parent, or us,” she said.

Under artificial intelligence the report found that 74 per cent of experts believe AI will transform healthspan R&D and healthcare delivery, yet 26–30 per cent remain opposed to AI in diagnostics, reflecting an ongoing trust and ethics gap.

The report detailed that 59 per cent of investors cite lack of awareness as the top barrier while 46 per cent point to limited experts, unclear evidence and weak regulatory frameworks.

“Between 2022 and 2024 the investments in healthspan has doubled, it’s estimated to be $7 billion invested in finding interventions in healthspan globally,” Al-Saud said.

Investment in healthspan reached $7.33 billion in 2024, up from $3.48 billion the previous year. The average deal size has grown 77 per cent since 2020, signaling maturing confidence in the sector.

“Hevolution Foundation remains the world’s largest philanthropic backer of aging biology and healthspan science, with $400 million allocated in over 230 grants, 25 partnerships, and four biotech ventures,” Al-Saud said.

According to a report from Hevolution, expanding could deliver up to $220 billion annually in productivity gains, and every $1 invested in prevention could yield $16 in returns.

“We always want to support scientists but the end-consumer is the general public,” Al-Saud said.

Hevolution has remained true to its mission since its foundation; to extend healthy human lifespan for all, mobilizing the science, innovation and investment needed to make healthier longer lives a shared global reality.

Established by royal decree in 2018 and launched in 2021, Hevolution Foundation is a non-profit organization that focuses on accelerating independent research and entrepreneurship in the emerging field of healthspan science.

Headquartered in Riyadh, Saudi Arabia, with a North American hub in Boston, the foundation says it has plans for further international expansion, and has set key goals and targets to advance its vision and mission.