October 25, 2021 Read More →

Saudi Arabia commits to internal net zero by 2060

Bloomberg ($):

Saudi Arabia has pledged to eliminate planet-warming emissions within its borders by 2060.

It marks a seismic shift for the world’s biggest oil exporter, though officials included plenty of caveats and emphasized that Saudi Arabia and others would need to pump crude for decades to come. 

Crown Prince Mohammed bin Salman, the de facto ruler, made the announcement in Riyadh on Saturday at the opening of a climate conference. His government has consistently argued against cutting investments in fossil fuels and blamed climate activists for this year’s surge in energy prices.

While Saudi Arabia’s new goal aligns with China and Russia, its timeframe lags other large economies like the U.S., U.K., and European Union, which all aim to be net zero by 2050.

[Matthew Martin and Akshat Rathi]

More: World’s Biggest Oil Exporter Commits to Net-Zero Emissions

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