Saudi Arabia rallies region for deep decarbonization as COP30 nears

Organized by the Organization of Arab Petroleum Exporting Countries and held under the patronage of Saudi Energy Ministry, the event builds on the success of its inaugural edition last June. SPA
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Updated 24 April 2025
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Saudi Arabia rallies region for deep decarbonization as COP30 nears

JEDDAH: A regional drive to cut carbon emissions in the oil and gas sector gained fresh momentum this week as the second symposium on downstream decarbonization opened in the Saudi capital, drawing high-level participation from international energy companies, industry experts, and policymakers.

Organized by the Organization of Arab Petroleum Exporting Countries and held under the patronage of Saudi Energy Ministry, the event—titled “Pathways to Reducing Carbon Emissions in Downstream Petroleum Industries”—builds on the success of its inaugural edition last June.

The symposium aims to advance strategies for curbing emissions in refining and petrochemical operations, reaffirming OAPEC’s commitment to sustainable energy development while fostering both regional and global collaboration.

Central to discussions is the challenge of balancing environmental goals with the continued strategic role of hydrocarbons in the global energy mix.

Opening the event, Saudi Arabia’s Deputy Minister for Sustainability and Climate Change Khalid Al-Mehaid highlighted the organization’s evolving vision.

He praised OAPEC’s decision to rebrand as the “Arab Energy Organization,” a move he said reflects a broader commitment to embracing all forms of energy to better serve the region’s long-term development goals.

He underscored the need for deep decarbonization strategies to safeguard energy security, protect the environment, and drive economic growth, according to the Saudi Press Agency.

Al-Mehaid emphasized the importance of integrated carbon management solutions, pointing to the role of the International Energy Forum in fostering collaboration between energy-producing and consuming nations in the face of the global energy trilemma.

With COP30 fast approaching, he called on Arab countries to move beyond negotiations and toward actionable climate cooperation, urging the adoption of science-driven solutions to meet net-zero emission targets.

OAPEC Secretary-General Jamal Al-Loughani also commended the Saudi Ministry of Energy for its central role in shaping the event’s direction.

He credited the leadership of Prince Abdulaziz bin Salman for driving the success of the symposium’s inaugural edition and setting the stage for its second iteration.

According to the SPA report, Al-Loughani noted that these collaborative efforts have significantly advanced both Arab and global dialogues on emissions reduction, particularly in refining the technical and technological approaches needed to meet climate goals.

Al-Loughani noted that the symposium comes at a pivotal moment, as the oil and gas sector faces mounting environmental challenges.

He emphasized that member states are actively working to transition toward a low-emissions economy through strategic investments in renewable energy, carbon capture and reuse technologies, and improved operational efficiency.

Al-Loughani also highlighted pioneering initiatives led by the Kingdom, including the Saudi Green Initiative and the Middle East Green Initiative. He commended similar efforts across the region, citing the UAE’s Al-Reyada carbon capture project, alongside notable programs in Algeria, Kuwait, Qatar, Iraq, Egypt, and Bahrain.

Mohammed Eid Al-Suraihi, president of the Arab Council for Creativity and Innovation, underscored the vital role of linking innovation with industrial solutions and stressed the importance of civil society participation in environmental awareness campaigns, according to the SPA.

He further emphasized that innovation remains key to building a more sustainable future for the petroleum sector.

Ali Al-Samawi, a senior energy analyst and representative of IEF Secretary-General Jassim Al-Shirawi, warned of unprecedented global challenges in decarbonizing the downstream petroleum industry. He pointed to circular carbon economy models, carbon markets, artificial intelligence-driven energy efficiency, and carbon capture, utilization, and storage technologies as essential tools for transformative change and unlocking future investment.

The symposium closely aligns with Saudi Arabia’s broader sustainability efforts, particularly through the Saudi Green Initiative and Middle East Green Initiative—both aimed at reducing carbon emissions and expanding renewable energy adoption.

The Kingdom has committed to achieving net-zero greenhouse gas emissions by 2060, a goal announced by Crown Prince Mohammed bin Salman during the 2021 Saudi Green Initiative Forum.

Saudi Arabia’s focus on decarbonizing its oil and gas sector—especially through advanced technologies like carbon capture — complements the symposium’s core agenda and reinforces the country’s leadership in promoting regional and international climate cooperation ahead of COP30.

According to SPA, the symposium drew broad participation, including representatives from OAPEC member states, international organizations, and over 15 leading global firms specializing in emissions reduction technologies.

Delegates from around 20 Arab and foreign countries attended, with nearly 140 experts and stakeholders present. The event featured 23 technical papers showcasing the latest innovations and strategies in emissions mitigation.


Sustainability Forum Middle East spotlights Saudi role in driving climate finance deployment

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Sustainability Forum Middle East spotlights Saudi role in driving climate finance deployment

MANAMA: Saudi Arabia’s growing influence over sustainable finance and climate-aligned investment was a central theme at the Sustainability Forum Middle East, as regional banks, investors, and policymakers signaled a shift from climate pledges to market execution.

The fourth edition of the forum, held in Bahrain under the theme “Advancing Alignment, Innovation, and Implementation for Energy and Climate Transformation,” brought together more than 500 participants and over 50 speakers from government, finance, energy, and industry. 

While the agenda covered climate diplomacy and national strategies, the dominant conversations this year centered on capital deployment, bankability, technology, and the commercial realities of the energy transition.

Saudi Arabia’s role in shaping that transition was repeatedly highlighted, particularly through its efforts to structure green finance instruments, integrate sustainability into Vision 2030 programs, and scale renewable energy ambitions. Global banks at the forum pointed to the kingdom as a key driver of demand for credible sustainable finance frameworks in the Gulf.

“Saudi Arabia has demonstrated clear leadership through Vision 2030 and its green financing frameworks,” Lina Osman, managing director and head of sustainable finance for the Middle East, Africa and Pakistan at Standard Chartered, told Arab News.

“The Public Investment Fund’s green bond issuance is a clear demonstration of the value of the opportunity that is available in Saudi Arabia and how Saudi Arabia is seizing that opportunity,” she added.

Osman also noted that Saudi Arabia’s target of sourcing 50 percent of its electricity from renewables represents a “true demonstration of leadership in sustainability,” adding that financing instruments will need to evolve to serve those ambitions. 

She said the bank has been customizing sustainable finance structures for Gulf Cooperation Council clients as the market becomes more sophisticated and sector-specific.

Organizations at the forum said the region has moved beyond ESG signaling and into discussions about return profiles, risk pricing, and revenue impact. 

“Financial institutions are now focused on how sustainability generates value — reducing costs, building resilience, and boosting revenue. Previously, it was mostly window dressing,” said Ian McCallum, chief sustainability officer at Bank ABC. 

Speaking to Arab News, he added that Saudi Arabia is playing a “significant role in shaping the direction of sustainable finance by continuing to strengthen ESG regulatory and disclosure requirements.”

Speakers from private markets and venture capital also pointed to Saudi Arabia as an emerging market for climate technologies that are moving from pilot phase to commercialization. 

Investors highlighted carbon removal, energy optimization, and AI-enabled climate solutions as areas where the Kingdom’s scaling capacity and demand for industrial decarbonization make deployment feasible.

Beyond finance, the forum examined how the GCC can accelerate industrial decarbonization through AI integration, carbon capture, supply chain reform, and the expansion of renewables. 

Panels explored how sovereign strategies and industrial policy are aligning across the region, with Saudi Arabia’s energy transition goals seen as an anchor for cross-border capital flows.

The event saw memorandums of understanding and multi-sector partnerships intended to translate national ambitions into deployable projects. 

Organizers said the agreements reflect a shift toward implementation, positioning the Gulf as a market where climate action is increasingly tied to competitiveness, industrial growth, and long-term economic resilience.