Page 7 - MEOG Week 44 2022

MEOG POLICY & SECURITY MEOG

Saudi reaffirms

net zero ambitions

SAUDI ARABIA SAUDI Arabia’s Energy Minister Prince Abdu- bin Salman (MbS), during the Kingdom’s Saudi
laziz bin Salman Al Saud this week reiterated Green Initiative Forum ahead of the COP26 cli-
the Kingdom’s efforts to achieve the ‘net zero’ mate conference.
emissions goal it announced last year. Speaking He said that 450mn trees would be planted
at ADIPEC in Abu Dhabi, Prince Abdulaziz said: across Saudi Arabia amid efforts to rehabilitate
“We are working to increase refining rates and large areas of degraded land by 2030 and the mit-
develop clean hydrogen.” igation of 200mn tonnes of emissions.
He noted that Saudi Arabia and UAE are Meanwhile, a statement released by Aramco
working together to “achieve sustainable devel- disclosed the company’s “ambition to achieve
opment through a number of important” climate net-zero Scope 1 and Scope 2 greenhouse gas
initiatives, while stressing the need to harness emissions across its wholly-owned operated
existing investments and technologies to achieve assets by 2050”. It added: “This ambition is an
the goals they aspire to accomplish in the future, important part of the company’s focus on long-
according to the Saudi Gazette. term shareholder value creation by advancing
“What is happening today will never prevent its goals through a company-wide approach [to]
us from focusing on the future, and we will work sustainability.”
together to achieve our aspirations, and we will Scope 1 and 2 emissions cover direct emis-
be a positive example for energy-producing sions from company-owned or controlled
countries,” he said. The comments come ahead sources as well as indirect emissions from the
of next week’s United Nations COP27 summit in generation of purchased electricity, steam,
Egypt, during which Saudi is expected to make heating and cooling consumed by company.
further climate-related announcements. Meanwhile, Scope 3 includes all other indirect
In October 2021, Riyadh announced that it emissions that occur throughout the company’s
would reduce emissions from the Kingdom to value chain.
net zero by 2060, with oil firm Saudi Aramco The omission of Scope 3 was unsurprising, as
also setting an ambitious target for emissions. Aramco has not yet reported these indirect emis-
Aramco’s target is to achieve ‘net zero’ Scope 1 sions in the three years since it began external
and Scope 2 greenhouse gas (GHG) emissions by reporting.
2050, suggesting that both goals will rely heavily The company did, however, expand the
on the offshoring of emissions, with Riyadh set reporting boundaries of Scope 2 in 2019 to
to remain reliant on crude oil exports for decades include affiliates under Aramco’s control, which
to come. include Saudi Aramco Jubail Refinery (SAS-
Saudi’s ambitious target was announced by REF), Motiva in the US and Netherlands-based
Abdulaziz’s brother, Crown Prince Mohammed chemicals specialist Arlanxeo.™

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