Saudi Crown Prince Sets 2060 Net‑Zero Target, 10 Years Slower Than the U.S. — Still Loves Oil
In a breezy speech from the sidelines of the Saudi Green Initiative, Crown Prince Mohammed bin Salman laid out a fresh climate roadmap. He wants the kingdom to hit net‑zero emissions by 2060—a decade later than the U.S.—and is pledging to double its 2030 cut ambitions.
Why the 2060 Target?
- Saudi Arabia is one of the world’s top oil producers, so timing matters for market stability.
- It’s a “circular carbon economy” promise that balances ambition with reality.
- Clinical goal: no more pollution than it can absorb or recapture.
Oil Still Stays in the Mix
The Crown Prince and the energy minister emphasized that hydrocarbons are still vital. They’re not shutting down the refinery gate; they’re just saying, “Hey, we’ll keep the oil flow but clean up as we go.”
Aramco’s Take
Amin Nasser, the head of Saudi Aramco, warned that “demonising” oil is counterproductive. He aims to expand oil and gas output while reaching net‑zero emissions from operations by 2050.
Global Gas‑Slicer 30% Cut
The kingdom has also promised a 30‑percent reduction in methane by 2030, joining forces with the U.S. and EU to tackle one of the most potent greenhouse gases.
View the Crown Prince’s Full Speech
Video available here: https://youtu.be/KSLEV4_Qlfs
Looking Ahead to COP26
The global climate conference in Glasgow will delve into deeper emissions cuts. Saudi Arabia’s 2060 pledge is a key point in the negotiation table.
‘Hydrocarbons still needed’
Saudi’s Bold Deal to Cut 280 Million Tons of CO₂ by 2030
Big picture! The Saudi Green Initiative (SGI) is revving up to slash a whopping 278 million tonnes of carbon dioxide each year by 2030 – more than double its earlier promise of 130 million tonnes. The crown prince plans a hefty 700 billion riyals (about $256 billion) of investment to make that happen.
Oil‑Heavy, But Not Oil‑Only
Saudi Arabia still rides en masse on oil revenue, yet the crown prince is determined to diversify – because, let’s face it, your entire economy can’t boil down to just petrol. The energy minister, Prince Abdulaziz bin Salman, reminded the world that we need both fossil fuels and renewables.
“We must tackle it comprehensively,” he said. “Being inclusive means welcoming any effort that helps cut emissions, as long as it’s on target.”
Future‑Gen Demand
“The younger generation won’t sit around while we rewrite the future,” the prince added. “If we want net‑zero we’ll get there before 2060, but we also need to do things right.”
Regional Moves
Other Gulf neighbours are following suit: the United Arab Emirates announced a net‑zero goal by 2050 this month.
Climate Critiques
The Climate Action Tracker, a non‑profit watchdog, rapped Saudi Arabia with a “Critically Insufficient” rating – essentially a low‑key “Give us more heat‑proof ideas.”
Concrete Steps: Renewables & Hydrogen
- In April, Saudi’s first renewable energy plant opened its doors.
- By August, the first wind farm was churning out electricity.
- Looking ahead, the kingdom plans a $5 billion hydrogen plant – a clean fuel that’s expected to be a game‑changer.
- State‑linked entities are already changing their fundraising game to green‑friendly forms.
In short, Saudi Arabia’s putting a billion‑billion‑renames scheme on the table: big investments, big responsibility, and a hope that the future will be greener (and cooler). Let’s see if the ambitious numbers can match the bold dreams!
