Riyadh, April 24, 2021 -- Today the Ministry of Energy announced that Saudi Arabia will join with the United States, Canada, Norway, and Qatar in establishing a new Net Zero Producers Forum, a platform for oil and gas producing countries to discuss how they can support the implementation of the Paris Agreement on climate change and the goal of achieving its Net Zero emission targets.
An official Ministry source emphasized that climate change is a challenge for the whole world, and that the Kingdom of Saudi Arabia is committed to the full implementation of the Paris Agreement, which takes into account each country’s rights and obligations, focuses on national circumstances, and recognizes that there are different national paths and strategies in reducing and removing emissions. To this end, the Kingdom has advocated the Circular Carbon Economy, which is a holistic, integrated, inclusive, and pragmatic approach to managing emissions.
The Ministry source stressed that the overall goal of the Paris agreement is to strengthen global response in the context of sustainable development and efforts to eradicate poverty, and in order to achieve this there must be a comprehensive methodology that takes into account the different national and regional circumstances.
A joint statement from the members of the new Forum said: “Canada, Norway, Qatar, Saudi Arabia and the United States, collectively representing about 40 per cent of global oil and gas production, will come together to form a cooperative forum that will develop pragmatic net zero emission strategies, including methane abatement, advancing the circular carbon economy approach, development and deployment of clean-energy and carbon capture and storage technologies, diversification from reliance on hydrocarbon revenues, and other measures in line with each country's national circumstances.”
The Ministry source added that Saudi Arabia is a strong advocate of the key role that technology and innovation can play in the campaign to reduce and remove greenhouse gas emissions and help the world reach its Net Zero targets. Reaching this challenging goal will require the co-operation and collaboration of every member of the international community on all possible solutions.
