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Allocating $2.5 billion for the Green Middle East Initiative

Prince Mohammed bin Salman, the crown prince and prime minister of Saudi Arabia, said the kingdom will allocate $2.5 billion for a “green initiative” in the Middle East over the next 10 years and will host its headquarters.

added through Presiding over the second edition of the Green Middle East Initiative Summit 2022 in Sharm El-Sheikh, EgyptOn the sidelines of the COP 27 conference, the Kingdom aims to find solutions in order to provide more sustainable energy systems.

He explained, “We seek to make renewable energy 50% of our consumption in 2030, noting that the Kingdom aims to reach zero neutrality in 2050.”

He continued, “The Public Investment Fund targets net zero emissions through sustainable development by 2050.”

The Crown Prince said, “We hope that the summit will achieve outcomes that lay the foundation for a bright future.”

Today, Monday, the second edition of the Green Middle East Initiative Summit 2022 was launched in Sharm El-Sheikh, Egypt, on the sidelines of the COP 27 conference, chaired by Prince Mohammed bin Salman, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, in partnership with Egyptian President Abdel Fattah El-Sisi.

The Green Middle East Initiative Summit 2022 brings together decision-makers and government leaders from the Middle East and beyond with the aim of reinforcing the regional climate commitments made at the inaugural edition of the Summit in 2021.

Prince Mohammed bin Salman, Crown Prince, Prime Minister and Chairman of the Supreme Committee for Green Saudi Arabia, announced the launch of the second edition of the “Green Middle East Initiative Summit” on November 7, and the “Green Saudi Initiative Forum” on November 11 and 12 in the city of Sharm El-Sheikh, Arab Republic of Egypt, under the slogan: “From Ambition to Action”, in conjunction with the convening of the United Nations Conference on Climate Change (COP27).

In continuation to the success of the first summit of the Green Middle East Initiative hosted by Riyadh last year, the second edition of the Green Middle East Initiative summit will be held to shed light on the most prominent climate challenges facing the region and their global dimensions, through a strategic platform that enhances joint cooperation, exchange of experiences and discussion of ideas between Concerned heads of state and government ministers and policy makers in the countries of the region, thus contributing to accelerating the transition towards a green economy and building a more sustainable future for future generations.

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