Saudi Gazette report

RIYADH — The need to bolster bilateral partnership in sustainable city development, green technologies, and growing green infrastructure financing market was figured highly at the UK-Saudi Sustainable Infrastructure Forum held in London on Monday.

Around 250 Saudi and British leaders from industry and financial sectors, along with senior officials of major giga projects participated in the key summit held at Plaisterers’ Hall. They included Saudi Minister of Investment Khalid Al-Falih. The high-level Saudi delegation to the forum was led by the Saudi Ministry of Investment and the Federation of Saudi Chambers.

The forum, organized by Saudi British Joint Business Council (SBJBC), in partnership with the City of London Corporation (COLC), discussed several topics such as urbanization, sustainable city development, and financing, including the scaling up of green technologies and renewable energy solutions.

Referring to the significance of the forum, Lord Mayor of the City of London Alderman Professor Michael Mainelli said: “I’m delighted to host this crucial summit. Sustainable infrastructure around the world is essential to tackling climate change, boosting economic development, and ensuring access to vital provisions such as transport, energy, and water,” he said adding, this summit offers an excellent platform to adopt and share knowledge gained from Saudi Arabia’s ambitious Vision 2030 sustainable development plans.

The forum builds on previous SBJBC and COLC events and an already strong UK-Saudi public and private dialogue on clean energy development and decarbonization in the business sector. It also follows the UK’s recent successful Great Futures event in Riyadh and growing involvement by UK companies in Saudi Vision 2030 initiatives currently transforming economic sectors and giga project development.

The event, supported by lead sponsors NEOM and Saudi Awwal Bank (SAB), underscored the importance of UK-Saudi collaboration in sustainable infrastructure development and advancing the green transition. Panel discussions at the forum revolved around bridging the investment gap, utilizing smart urban planning to build resilient and liveable communities, and scale up green technology and renewable energy initiatives.

It is noteworthy that Saudi Arabia is investing more in infrastructure than any other country in the Middle East region, including in 14 new giga-projects. This investment, combined with the City of London’s expertise and leadership in sustainable finance, can set a global template for sustainable development, it was pointed out at the summit.