With a week to go before the opening of the climate conference in Glasgow, Gulf countries have said they will reduce their emissions to zero by 2060. But Saudi Arabia’s goals take no account of emissions from the use of oil exported by the kingdom – and that means one in 10 barrels consumed world-wide.
Crown Prince Mohammed bin Salman said his country would invest in the next decade $187 billion in the campaign against climate change, but would not abandon oil and gas production. These objectives, he said, would be achieved “while maintaining and strengthening the kingdom’s leading role in ensuring the security and stability of world energy markets through the use and development of key technologies on capture and storage of emissions”.
Saudi Arabia intends by 2030 to reduce, prevent and remove 278 million tonnes of CO2 equivalent per year – that is more than twice the previously stated objective for that period of 130 million tonnes.
Within 10 years, half the power produced in the country will be on the basis of renewable energy sources – that figure now stands at less than 1 %. The country is to plant 10 billion trees to fight desertification and capture CO2.
State oil company Saudi Aramco intends by 2050 to reduce to zero emissions from its activity, while at the same time boost oil production from 12 million barrels a day to 13 million.
The day after the Saudi announcement, Bahrain’s cabinet said it would also strive to achieve zero carbon emissions by 2060 to contribute to the campaign against climate change and preserve the environment.
The country intends to move towards the so-called circular economy through various types of compensatory actions and capture of carbon emissions.
Bahrain produces about 200,000 barrels of oil per day – oil accounts for 80 % of state revenues.