Saudi Gazette report

RIYADH — Adel AlJubeir, Minister of State for Foreign Affairs, Member of the Saudi Council of Ministers, and Envoy for Climate Affairs, opened on Wednesday the second day of the Saudi Green Initiative (SGI) Forum 2024, held alongside the UNCCD COP16.

In his address, AlJubeir reinforced Saudi Arabia’s leadership in climate action, emphasizing the Kingdom’s proactive stance. “We want to set the standard for the world. We don't want to follow them,” he stated during the Forum’s opening session in a conversation with CNBC’s Dan Murphy.

AlJubeir highlighted Saudi Arabia’s strides in environmental protection and climate action as integral to the Kingdom’s strategy for economic diversification and investment attraction.

He noted the substantial return on investment in environmental initiatives, stating, “For every dollar we spend restoring land, the benefits are anywhere from seven to thirty dollars, akin to investing in technology.”

He also highlighted the compatibility of environmental sensitivity with financial gains, particularly in initiatives such as the Red Sea resorts, which enhance investment value while prioritizing ecological sustainability.

A significant highlight of AlJubeir’s remarks was the Kingdom’s focus on the Blue Economy, marked by the announcement of the National Red Sea Sustainability Strategy earlier in the day. The strategy underscores Saudi Arabia’s commitment to preserving the Red Sea’s unique ecosystem while unlocking economic potential through sustainable development.

AlJubeir also emphasized the importance of global cooperation in addressing climate challenges.

“We believe we are facing a tremendous challenge in terms of the climate, and we believe that by working together and putting our resources together, we will be able to confront and deal with this challenge effectively,” he said.