OPEC welcomes Saudi Arabia’s new green initiatives

No 09/2021
Vienna, Austria
30 Mar 2021

The Organization of the Petroleum Exporting Countries (OPEC) welcomes two new initiatives by the Kingdom of Saudi Arabia which aim to reduce emissions and the region’s environmental footprint.

HE Mohammad Sanusi Barkindo, OPEC Secretary General, noted that the ‘Saudi Green Initiative’ and the ‘Middle East Green Initiative’ represent an important contribution to our global efforts to combat climate change.

“The recently announced initiatives are timely and form an important part of the Kingdom’s efforts to address environmental challenges and climate change. With these initiatives, the Kingdom continues to steer its global engagement on energy and environmental policies through the principle of ‘common but differentiated responsibilities’,” the Secretary General said.

OPEC and its Member Countries, beyond their commitment to sustainable oil market stability, are closely associated with inclusive solutions to addressing issues of global concern, including sustainable development, environmental initiatives and climate change, and the eradication of energy poverty.

OPEC’s 13 Member Countries have all signed the Paris Agreement and most of them have ratified it. The Secretary General urged all Member Countries to ratify the Agreement before the 26th UN Climate Change Conference of the Parties (COP26), scheduled to take place in Glasgow, Scotland, from 1-12 November 2021. This would further demonstrate the Organization’s continued commitment to the environment and our quest for sustainable development.

The Kingdom of Saudi Arabia’s two initiatives were announced on 27 March by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Saudi Arabia’s Crown Prince. The Kingdom said it will work with regional partners, many of whom are OPEC Member Countries, to transfer knowledge and share experiences. 

The Kingdom, during its Presidency of the G20, promoted the circular carbon economy and its ‘4Rs’ – reduce, reuse, recycle and remove – as one of the inclusive and balanced solutions to the climate challenge, and embraced advanced technologies as part of the global energy agenda.

OPEC and the oil and gas industry must be part of the solution to climate change. They possess critical resources and expertise that can help unlock a global carbon-free future.