The Chairman of the Board of Directors of Saudi Aramco, Yasser bin Othman Al-Rumayyan, stressed that the challenges of climate change cannot be faced in isolation, as this requires a global effort, and for this reason, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister, launched the Green Middle East Initiative. To advance collective action among the countries of the world, His Highness also launched the Green Saudi Initiative.

On March 27, Crown Prince Mohammed bin Salman announced that the "Green Saudi Initiative" and the "Green Middle East Initiative" will chart the direction of the Kingdom and the region in protecting the land and nature and put it in a roadmap with clear and ambitious landmarks, and they will contribute strongly to achieving the goals. Globalism.

Al-Rumayyan said that the process of energy transition is incredibly complex and will not be easy, and we believe that meeting the challenges of climate change and improving sustainability measures requires cooperation and commitment from all countries, societies and peoples, as the challenges of climate change cannot be faced in isolation.

He added, "Many agree that climate change represents one of the greatest challenges to humanity in this century, and for this reason, His Highness the Crown Prince launched the Green Saudi Initiative."

He said that since the launch of the Kingdom's Vision 2030, the Kingdom has taken important steps to expand the scope of climate action and protect the environment, for example, the Kingdom has set a goal to generate 50% of electricity from renewable energy sources by 2030.

He pointed out that the Green Saudi Initiative aims to unify the country's efforts to increase our dependence on clean energy and face the challenges of climate change, and said, "Therefore, Saudi Aramco announced its ambition to reach zero neutrality for bands 1 and 2) and reduce greenhouse gas emissions in its business facilities. fully owned and operated by 2050, which is important to both the Company and the Kingdom.” for customers all over the world.

“We need a transitional phase that provides reliable, affordable, and low-cost energy supply, and leaves no one behind, so Saudi Aramco’s ambition to reach zero neutrality is an important part of its long-term strategy,” Al-Rumayyan said.

He explained that the company intends to reveal more details in the next sustainability report, which will be issued in the second quarter of 2022 AD, and Aramco has a unique platform through which it can address climate change and support the energy transition, as the company's classification of carbon and methane emissions is among the lowest in the world in the energy sector. exploration and production, and also has one of the lowest gas flaring intensity rates.

He pointed out that to achieve Saudi Aramco's ambition to reach zero neutrality, it will need to maintain and enhance its performance in the long term, and reduce the impact of its emissions while continuing its growth. One of the techniques that have the ability to help the company achieve its goals.

From carbon capture and storage to low-carbon fuels, including hydrogen, and synthetic fuels, Saudi Aramco is working on multiple fronts to make tangible progress, as it promotes the circular carbon economy, which focuses on reducing, reusing and recycling carbon dioxide emissions. and remove it.

He said that Aramco is investing in renewable energy sources such as: the Sudair Solar Energy Project, which will be one of the largest projects of its kind in the world, and it relies on nature-based solutions to enhance the containment and nourishment of biodiversity, and the planting of millions of trees, including mangroves. which act as natural sinks by absorbing carbon dioxide.