From Ambition to Action | May 2024
Saudi Green Initiative
The Saudi Green Initiative will chart a path for the Kingdom of Saudi Arabia in protecting the planet.
This month, Saudi Arabia was at the forefront of several environmental action initiatives and projects, from hosting the first National Greening Forum in Riyadh to unveiling the world’s largest coral reef restoration project.
??? Saudi Arabia and the United States sign cooperation roadmap
Saudi Arabia’s Minister of Energy, HRH Prince Abdulaziz bin Salman bin Abdulaziz, and US Secretary of Energy, Jennifer Granholm, have signed a roadmap to implement the Partnership Framework for Advancing Clean Energy.
The Ministers explored ways of enhancing cooperation between Saudi Arabia and the US around carbon management, clean hydrogen, nuclear energy, electricity and renewables, innovation energy sector supply chain resilience, and energy efficiency.
?? Hassana to make commitment to climate funds
Hassana Investment Company , Saudi Arabia’s pension fund, and TPG announced a $1.5B strategic partnership in the TPG Rise Climate Platform.
The partnership includes a substantial anchor commitment to TPG Rise Climate’s new Transition Infrastructure Fund, underscoring the Kingdom’s evolution as a growing source of partnership and investment opportunities for global decarbonization and energy transition.
???? 10 MoUs and investment contracts signed at the National Greening Forum
The inaugural National Greening Forum, organized by the National Center for Vegetation Cover Development & Combating Desertification ?????? ?????? ?????? ?????? ??????? ??????? ?????? earlier this month, concluded with the signings of 7 memoranda of understanding and 3 investment contracts.
The signings are set to advance Saudi Arabia’s efforts in afforestation and the prevention of land degradation, as set out by the Saudi Green Initiative.
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?? Tree planted for every newborn at Dammam hospital
The Maternity and Children Hospital in Dammam entered into an agreement with netzero , a homegrown nature-based carbon offset organization, to plant a new tree for every newborn, and for children diagnosed with diabetes, heart diseases, and blood disorders.
The initiative will also incorporate afforestation digitalization efforts to enable learning about the environmental benefits of each tree cultivated.
?? ‘World's largest’ coral reef restoration project unveiled in Saudi Arabia
KAUST (King Abdullah University of Science and Technology) has unveiled the KAUST Coral Restoration Initiative in the Red Sea, described as the world’s largest coral reef restoration.
The initiative aims to produce up to 400,000 corals each year, in a bid to restore reefs globally. As of now, the project operates a functioning nursery on the Red Sea coast, capable of generating 40,000 corals per year.
?? NCW launches project to assess condition of Saudi Arabia's marine ecosystems
The National Center for Wildlife has launched a project to assess the health of ecosystems in the Arabian Gulf, in a step towards safeguarding Saudi Arabia’s marine treasures.
Scientists will evaluate the condition of coral reefs, seagrass meadows, and mangrove forests to identify threats to these habitats in order to develop strategies to mitigate risks.
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