Arab News

RIYADH: Saudi Arabia has stressed the need to strike a balance between economic growth and environmental preservation to ensure a prosperous and sustainable future at the G20 Ministerial Development Meeting held on June 11 to 13 in Varanasi, India.    

Highlighting Saudi Arabia’s circular carbon economy approach, Yasser Fakih, general supervisor of the General Department of Research and Economic Visions at the Ministry of Economy and Planning, said that the Kingdom is committed to implementing collective measures to accelerate the UN’s Sustainable Development Goals, the Saudi Press Agency reported.  

This responsibility includes supporting a comprehensive transition process that addresses the structural vulnerabilities faced by developing nations.   

The UN’s global goals aim to achieve a society free from poverty, hunger and inequality, with a focus on promoting good health and quality education.   

During the meeting, Fakih spoke at two main sessions — “The G20 Action Plan to Accelerate Progress in Achieving the Sustainable Development Goals,” and “The High Principles of a Lifestyle for Environment Initiative for the Environment.”   

The discussions focused on approaches that highlight the importance of reducing, reusing, recycling and removing carbon to achieve sustainable development.   

The G20 Development Ministerial meeting was organized with the aim of collectively agreeing on actions for accelerating the achievement of the SDGs. It looked at fostering synergies between the development, environment and climate agendas while avoiding costly trade-offs. 

Saudi Arabia’s Vision 2030 plan, which aims to create private sector opportunities and raise the living standards in the region, aligns well with the G20’s sustainability agenda.   

By advocating for this approach, the Kingdom looks to contribute to the collective efforts in addressing the challenges of economic growth and environmental sustainability on a global scale.   

Since its establishment in 2010, the Development Working Group of the G20 has been working to reduce poverty and address the development gap.