RIYADH, Oct 26 — Saudi Arabia’s Crown Prince Mohammed bin Salman has launched a regional initiative, with an estimated investment value of US$10.4 billion to combat climate change, with Saudi Arabia expected to contribute 15 percent.
In his speech at Monday’s Middle East Green Initiative Summit, he said the kingdom would work to establish a regional early storm warning center.
He further announced that a regional center for climate change would be established, a regional center for carbon capture and storage would be developed and the establishment of a regional center for the sustainable development of fisheries and a regional cloud seeding program as well as the establishment of the “Green Initiative Foundation,” a non-profit organization to support the summit’s work in the future, it reported.
The Middle East Green Initiative Summit brings prominent leaders and officials from the region and the world together with the aim of strengthening cooperation and uniting efforts towards implementing common environmental commitments.
Last March, Saudi Arabia announced the launch of Green Saudi Arabia and Green Middle East initiatives to improve the quality of life by increasing reliance on clean energy, neutralizing the effects of oil, and protecting the environment.
Notably, these initiatives aim to plant 50 billion trees in the region and reduce carbon emissions by more than 10 percent of global contributions.