On the eve of major sustainability meetings, Saudi Arabia has launched a country-wide green awareness drive

As of this writing, Saudi Arabia is ranked #10. Crown Prince Mohammed bin Salman is responsible for a number of measures that have helped Saudi Arabia climb this year's list, including the Saudi and Middle Eastern Green Initiatives and the creation of royal natural reserves. SGI and MGI — and the Circular Carbon Economy concept that the projects intend to advance are important foundations to establish the roadmap to accomplish the Kingdom's lofty climate targets, which are part of several goals of Saudi Vision 2030. Approximately SR700 billion was invested in the first suite of over 60 new initiatives announced at the inaugural SGI Forum in October 2021.

Next week, in conjunction with COP27 in Sharm El Sheikh, Egypt, the second editions of the MGI Summit and the SGI Forum will be held under the theme "From ambition to action." The SGI Forum is scheduled for November 11-12, and the MGI Summit is scheduled for November 7. SGI integrates all climate change initiatives inside the Kingdom to achieve three important targets: lowering carbon emissions by 278 mtpa by 2030; increasing tree cover in Saudi Arabia by 10 billion; and setting aside 30 percent of land and sea in the Kingdom as protected areas. According to the Green Future Index, the Kingdom has risen 27 spots in the Carbon Emissions pillar, placing it at 19th in the world. In 2015, the Kingdom established a goal of reducing carbon emissions by 133 mpta by 2030; by 2030, that goal has been increased to 278 mpta. In addition, the Kingdom has stated its intention to become carbon neutral by the year 2060.

This lofty objective will be reached through the adoption of the CCE approach, which is in line with the Kingdom's development plans and economic diversification efforts, and consistent with the 'dynamic baseline' stipulated in the Kingdom's NDC, ensuring the Kingdom maintains and enhances its leading role in the security and stability of energy global markets. In this vein, the Kingdom has also initiated a national programme for the Circular Carbon Economy, an all-encompassing strategy that was adopted by G20 leaders during the Kingdom's leadership of the summit in 2020. The Kingdom jumped up a full 12 places, to a 12th overall position, in the Energy Transition Pillar, and it also topped the Energy Transition Pillar's Renewable Energy Growth Indicator. The statement that the Kingdom will increase the amount of renewable energy in the energy mix used to produce power to 50 percent by 2030 was a major impetus for this development. The Kingdom scored a 26th place worldwide in the Index's Green Society Pillar.

The Saudi Energy Efficiency Center was established, more than twenty-seven specifications and regulations were released to improve energy efficiency in equipment and buildings, the Saudi Corporate Average Fuel Economy standard (Saudi CAFE) was adopted, the Tarsheed Company was formed to implement energy efficiency projects at government buildings and facilities, and over ten million smart electricity metres were installed. Innovation in the energy sector, creative projects within the Carbon Circular Economy National Program, and progress in the uses of hydrogen applications have all contributed to the Kingdom's ability to compete internationally in this field. Due to its updated NDC, announcement of a CCUS hub, and establishment of the Riyadh Voluntary Exchange Platform for offsets and carbon credits within the Middle East and North Africa, the Kingdom rose 13 places in the Climate Policy Pillar. This is because it is the region's primary platform and destination for companies and sectors aiming to reduce carbon emissions.

In order to realise its goal of reaching net-zero emissions by 2060, the Kingdom has built a comprehensive framework for green finance. This framework will facilitate access to international green financing markets and is consistent with the Paris Agreement and CCE strategy. The Green Future Index ranks 76 countries annually on their ability to create a sustainable, low-emissions future by looking at how well their economies are shifting to clean energy across all sectors (including industry, agriculture, and society) through measures such as policy innovation, investment in renewables, and the uptake of clean technologies. Carbon Emissions, Energy Transition, Green Society, Clean Innovation, and Climate Policy are the five pillars that make up the Green Future Index. Each country is graded on how well it performs across these categories, and within each pillar there are other factors that further refine the rankings.