Saudi Ministry of Energy, UN ink deal to propel regional emissions cooperation 

Energy Minister Prince Abdulaziz bin Salman and UNEP Executive Director Inger Andersen. Ministry of Energy
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Updated 30 June 2025
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Saudi Ministry of Energy, UN ink deal to propel regional emissions cooperation 

  • Deal seeks to support MENA nations promote clean energy technologies

RIYADH: Middle East and North Africa countries are set to benefit from enhanced clean energy cooperation following an agreement between Saudi Arabia and the UN Environment Programme to accelerate emissions reduction. 

The memorandum of understanding, signed in Riyadh by Energy Minister Prince Abdulaziz bin Salman and UNEP Executive Director Inger Andersen, seeks to support MENA nations through the promotion of clean energy technologies, development of climate policy frameworks, and knowledge exchange to advance sustainable development, according to an official release. 

The initiative aligns with Saudi Arabia’s Middle East Green Initiative, a regional platform launched to combat climate change and reduce emissions by over 60 percent from hydrocarbon production across participating countries. The initiative aims to cut 670 million tonnes of carbon dioxide, equivalent to 10 percent of global nationally determined contributions when first announced in 2021. 

The ministry release stated: “The MoU reflects shared goals to enhance resource efficiency and lower carbon emissions through a comprehensive, balanced and sustainable approach.” 

It added: “Areas of cooperation include policy research and recommendations, partnerships with international organizations, participation in climate and CCE-related events, exchange of knowledge and best practices, and the development of climate policy frameworks, supported by regional and global climate networking activities.” 

During the meeting, the two sides also held talks over advancing the objectives of the UN Framework Convention on Climate Change and the Paris Agreement. 

“The two sides also discussed Saudi Arabia’s climate initiatives, including the Saudi Green Initiative and the Middle East Green Initiative, as well as other efforts undertaken by the Kingdom to expand renewable energy and reduce emissions through the Circular Carbon Economy framework,” the release added.

The MoU supports wider regional efforts to unlock renewable potential. MENA currently contributes less than 8 percent of global emissions from power and heat generation and is aiming to grow its clean energy capacity from under 50 gigawatts in 2022 to 200 GW by 2030, according to a June 2024 report by the International Energy Agency. 

The IEA report also highlighted that the region — led by Saudi Arabia, Egypt, and Algeria — is experiencing the fastest relative growth in renewable energy, scaling at 4.5 times its current base due to ambitious national targets. 

The MENA region holds substantial hydrocarbon reserves alongside significant renewable energy potential, positioning it as a strategically important player in the global shift toward sustainable energy, according to the Natural Resource Governance Institute. 

Governments across the region are adopting a dual-energy strategy — leveraging both fossil fuels and renewables — to reduce emissions while bolstering energy security. 

Enhanced regional collaboration is critical to developing interconnected energy systems, boosting economic competitiveness, and securing reliable access to international energy markets. 


Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

Updated 17 February 2026
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Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06. 

The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.  

Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).  

Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.  

Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30. 

On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.

Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50. 

On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.  

The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.  

The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.  

The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session. 

Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.  

Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.

Tadweer shares last traded at SR3.80, up 2.70 percent.