• Prince Abdulaziz said that while the Kingdom will be creating more demand for hydrocarbon, it is also committed to being eco-friendly

Rashid Hassan

RIYADH: In a G20 meeting in Riyadh on Wednesday, Saudi Minister of Energy Prince Abdulaziz bin Salman said that sustainable energy solutions have been at the heart of the group’s efforts throughout Saudi Arabia’s presidency this year.

“We have not lost sight of a sustainable future. We are committed and working on it,” he said in the “Safeguarding our planet through more-sustainable energy systems” meeting.

The energy minister stressed the Kingdom’s commitment to the Circular Carbon Economy (CCE) platform and its ‘Four Rs’ framework: Reduce, Reuse, Recycle and Remove. He also recognized the urgent need to reduce greenhouse gas emissions.

“This is a concept all countries can gather around. What is important is the limiting of emissions. We have to be environmentally friendly,” he said.

Prince Abdulaziz said that while the Kingdom will be creating more demand for hydrocarbon, it is also committed to being eco-friendly. “We are also working on the solar energy program in the Kingdom,” he said.

Earlier in the day, G20 energy ministers agreed to help advance the development, deployment, and dissemination of relevant technologies and innovations related to the CCE platform, highlighting the international community’s interest in innovative all-inclusive approaches that can tackle climate change and environmental challenges while stimulating economies and industries around the world, according to a statement.

During its G20 Presidency, the prince said Saudi Arabia has played a leading role in advancing strategic plans to tackle climate change, one of the most serious issues the world faces today. The Kingdom, he said, “seeks to find a solution through innovation and collaboration with G20 members to create a sustainable framework for growth during and after the (COVID-19) pandemic.”

He noted that Saudi Arabia is “leading by example,” saying it has ensured that its major projects have “a comprehensive and integral approach to preserve the environment and foster development.”

On challenges facing the oil market amid the COVID-19 pandemic, the Saudi energy minister said: “We are not facing it alone, the challenges are there for all of us. The G20 is working collaboratively to mitigate the challenges.”

He agreed that the pandemic has had a huge impact on the oil market, with countries reducing their imports due to less domestic consumption. “It is our duty to work with OPEC and bring stability to the oil market,” he said. “We are engaged proactively and in a parallel way to ensure stability.”