The Kingdom has released comprehensive details about its ascent to the Green Future Index 2022, released through MIT Technology Review, as it strives to be the leader in the development of strategies to address the environmental issues confronting the world.
Saudi Arabia’s rise of 10 places in this year’s rankings is due to initiatives and programs under the direction of Prince Mohammed bin Salman, Crown Prince Mohammed bin Salman particularly the Saudi and Middle East Green Initiatives and the creation of reserve areas for royal nature to improve the amount of vegetation in Saudi Arabia.
To achieve certain goals in Saudi Vision 2030, SGI, MGI –and the Circular Carbon Economy method which the initiatives are aiming to develop — are the key elements to create the road map for achieving the ambitious climate goals of Saudi Arabia.
The first SGI Forum in October 2021 was the occasion to announce the first set of more than 60 brand-new initiatives that will bring in more than SR700 billion of investments.
The second edition of both the MGI Summit and the SGI Forum that will be which will be held under the theme of “From ambition to action” is scheduled for next week, in conjunction and COP27 which will be held in Sharm El Sheikh, Egypt.
The Green Future Index report shows that the Kingdom has leaped the Carbon Emissions Pillar by 27 places, putting it 19th in the world. The increase was triggered by the Kingdom’s announcement to increase the carbon emission target in its contribution to the national determination to 278 million tonnes per year by 2030, which is more than triple the 133 meta it that was announced in 2015.
Based on the level of development and availability of the technology required The goal of this ambitious project will be accomplished by implementing the CCE strategy, following the Kingdom’s development plans as well as efforts to diversify its economy, and conforming to the “dynamic baseline” outlined within the kingdom’s NDC to ensure that the Kingdom’s continued and increased its leadership role in the stability and security of the global energy markets.
The Kingdom has also announced, in this context a national plan to promote the Circular Carbon Economy. It is a broad-based plan of action that has been that was endorsed by G20 leaders as part of the Kingdom’s presidency at this summit, which will take place in 2020.
Within the Energy Transition Pillar, the Kingdom moved up 12 positions in the ranking, which was 12th, as well as achieving the top spot for the Renewable Energy Growth Indicator within the same Pillar. This improvement was driven by the announcement by the Kingdom that it would increase the proportion of renewable energy sources in the mix that is used to produce electricity to 50 % by 2030.
For the Green Society Pillar, the Index’s 3rd pillar Kingdom was ranked 26th in the world. The most prominent efforts to achieve this included that of the Saudi Energy Efficiency Center, the introduction of more than 27 standards and regulations to boost the energy efficiency of buildings and equipment, and the introduction of the Saudi Corporate Average Fuel Economy standard (Saudi CAFE) as well as incorporation into Tarsheed Company to implement energy efficiency initiatives in the government’s facilities and buildings and installing more than 10 million intelligent meters for electricity.
Three factors have helped to allow this Kingdom to be competitive world’s top nations in this field Innovation in the energy industry and innovative projects in the Carbon Circular Economy National Program and advancing the use of hydrogen in applications.
The first time it was launched was in 2021. The Green Future Index is an annual assessment of 76 countries that are ranked based on their capacity to build an environmentally sustainable, low-carbon future. It also evaluates the degree how which these economies are transforming to renewable energy sources in the industry as well as in agriculture and society by advancing innovation, policies, and investments in renewable energy.