Turkish Erdogan says he signed $ 3.2 billion green climate fund deal

Saudi Arabia’s ambition to reduce carbon emissions to net zero by 2060 hinges on a technological revolution, the country’s energy minister said.

Speaking at the Future Investment Initiative Forum in Riyadh, Prince Abdulaziz bin Salman bin Abdulaziz Al Saud said the goal could be achieved sooner than expected if there are sufficient developments in the technology sector.

“The circular carbon economy depends on the technology revolution,” he said, adding: “If technology moves faster, we don’t have to wait until 2060, we could reach it sooner.

Despite promises to reach net zero and become a global leader in renewable energy, Saudi Arabia wants to remain one of the world’s top oil-producing countries, according to a strategy released by the minister.

The “claim and retain leadership” plan shows that the Kingdom aims to maintain its dominance over oil, with “preeminence in energy markets” listed as one of its main goals.

Energy security, economic prosperity and human well-being are the three key pillars of Saudi Arabia’s circular carbon economy program, the minister added.