One of the world's largest oil producers, Saudi Arabia, announced Saturday it aims to reach 'net zero' greenhouse gas emissions by 2060, joining more than 100 countries in a global effort to try and curb man-made climate change.
DUBAI, UNITED ARAB EMIRATES -- One of the world's largest oil producers, Saudi Arabia, announced Saturday it aims to reach "net zero" greenhouse gas emissions by 2060, joining more than 100 countries in a global effort to try and curb man-made climate change.
In making the announcement, analysts say the kingdom ensures its continued seat at the table in global climate change talks. Saudi Arabia has pushed back against those who say fossil fuels must be urgently phased out, warning that a premature switch could lead to price volatility and shortages. Recently leaked documents show how the kingdom and other nations are lobbying behind the scenes ahead of the COP26 summit to change language around emissions.
Saudi Arabia says it will reach net-zero through a so-called "Carbon Circular Economy" approach, which advocates "reduce, reuse, recycle and remove." It is an unpopular strategy among climate change activists because it touts still unreliable carbon capture and storage technologies rather than honing in on the phasing out of fossil fuels.
Saudi Arabia said the transition to net zero carbon emissions "will be delivered in a manner that preserves the kingdom's leading role in enhancing the security and stability of global energy markets." Earlier this month, the United Arab Emirates -- another major Gulf Arab energy producer -- announced it too would join the "net zero" club of nations by 2050. The UAE, home to the region's first nuclear power plant, did not announce specifics on how it will reach this target.
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