Saudi Arabia Advances Climate Action With $60 Million Funding And New Initiatives At 2024 SGI Forum

The Saudi Green Initiative (SGI) Forum's fourth edition commenced alongside the UNCCD COP16 in Riyadh, focusing on environmental action. On its first day, five new initiatives worth $60 million (SAR225 million) were unveiled, highlighting Saudi Arabia's commitment to climate and environmental leadership. With investments surpassing $188 billion (SAR705 billion), the SGI's 86 initiatives are making significant strides towards fulfilling the objectives of the three Rio Conventions.

Saudi Arabia is advancing towards a net-zero target by 2060 through the Circular Carbon Economy approach. The SGI aims to cut emissions by 278 million tons annually and optimise energy use to achieve nearly half of electricity generation from renewable sources by 2030. Plans include boosting renewable energy capacity to 130 gigawatts (GW) by 2030, with 6.2 GW already connected and 20 GW launched this year.

Currently, there are 44.2 GW under development, enough to power over seven million homes with clean electricity. To displace over one million barrels of liquid fuel daily, efficient gas-fired power stations with carbon capture readiness will provide a total capacity of 42 GW. Four stations with a capacity of 5.6 GW are operational, while five more stations totalling 9 GW are under construction.

Construction is underway for one of the world's largest carbon capture centres in Jubail, aiming to capture nine million tons of CO2 annually by 2027. The Saudi Energy Efficiency Program has achieved notable energy savings, reducing approximately 539,000 barrels of oil equivalent daily by the end of 2023—a rise of 9.5% from the previous year.

Afforestation and Land Rehabilitation Efforts

Since SGI's inception in 2021, Saudi Arabia has planted over 100 million trees and shrubs and dispersed millions of seeds to combat sand encroachment. Over 118,000 hectares of degraded land have been rehabilitated—an area larger than 165,000 FIFA-sized football fields—moving towards an interim goal of rehabilitating eight million hectares by 2030.

Five new initiatives led by Ma'aden, Morooj Foundation with private sector collaboration, and Tanmiah Food Company represent a $60 million investment to accelerate afforestation efforts. These projects aim to plant millions of trees and mangroves, scatter seeds, rehabilitate land, reduce air pollution, and enhance biodiversity across the Kingdom.

Conservation Milestones

Saudi Arabia's conservation efforts have reached historic milestones since SGI's launch in 2021. Over 7,000 endangered species like Arabian oryx and Nubian ibex have been rewilded in nature reserves. In a significant achievement under the National Cheetah Conservation Strategy, four cheetah cubs were born in Saudi Arabia for the first time in over four decades.

Additionally, more than 110 endangered red-necked ostrich chicks hatched in wildlife breeding centres in 2024 indicate successful species reintroduction after extinction in the wild a century ago. The Ibex Reserve and King Salman Royal Nature Reserve were added to the IUCN Green List for effective management and conservation programs.

Saudi Arabia aims to protect current and future generations through afforestation efforts that offer essential protection against extreme heat. These efforts are crucial steps toward growing ten billion trees and enhancing resilience against desertification while improving life quality across the Kingdom.

To date, about 18.1% of Saudi Arabia's land and nearly 6.49% of its marine environments—covering almost 400,000 km²—are protected areas. This progress supports Saudi Arabia's goal to safeguard thirty percent of its land and marine areas by 2030 as part of its broader conservation strategy.

With inputs from SPA