Saudi\`s top oil exporter vows zero carbon emissions by 2060

One of the world s largest oil producers_ Saudi Arabia_ announced it aims to reach 'net zero' greenhouse gas emissions by 2060_ joining more than 100 countries in a global effort to try and curb man-made climate change.

The announcement on Saturday_ made by Crown Prince Mohammed bin Salman in scripted remarks at the start of the kingdom s first-ever Saudi Green Initiative Forum_ was timed to make a splash before the start of the global COP26 climate conference being held in Glasgow_ Scotland.

Although the kingdom plans to reduce emissions within its own borders_ there is no indication Saudi Arabia will slow down investments in oil and gas_ or relinquish sway over energy markets by moving away from the production of fossil fuels.

Energy exports form the backbone of Saudi Arabia s economy_ despite efforts to diversify revenue as the world increasingly looks to transition away from reliance on fossil fuels.

The country is forecast to make $150bn in revenue this year alone from oil.

Crown Prince Mohammed pledged that Saudi Arabia will plant 450 million trees and rehabilitate huge swaths of degraded lands by 2030_ reducing 200 million tonnes of carbon emissions and attempting to turn the landlocked city of Riyadh into a more sustainable capital.

The kingdom joins the ranks of Russia and China on their stated net-zero target date of 2060. The United States and the European Union have aimed for 2050.

The kingdom_ one of the world s biggest polluters_ said it would also join a global effort to cut methane emissions by 30 percent by 2030.

COP26 President Alok Sharma welcomed the announcement.

 I hope this landmark announcement & will galvanise ambition from others ahead of #COP26_ Sharma tweeted_ adding he was looking forward to seeing more details on the Saudi plan.

In making the announcement_ analysts said the kingdom ensured its continued seat at the table in global climate change talks. Saudi Arabia has pushed back against those who say fossil fuels must be urgently phased out_ warning a premature switch could lead to price volatility and shortages.

Recently leaked documents show that the kingdom and other nations are lobbying behind the scenes before the COP26 summit to change the language around emissions.

In transitioning domestically_ the kingdom could also take the oil and gas that it subsidises locally and allocate it as a more lucrative export to China and India_ where demand is expected to grow in the coming years.

 The kingdom s economic growth is driven by export of its energy sources. It s no state secret_ Saudi Energy Minister Prince Abdulaziz bin Salman said at the forum in Riyadh.

Saudi Arabia says it will reach net-zero through a so-called  carbon circular economy approach_ which advocates  reduce_ reuse_ recycle and remove . It is an unpopular strategy among climate change activists because it touts still unreliable carbon capture and storage technologies rather than honing in on the phasing out of fossil fuels.