Saudi Arabia launches climate initiative at cost of $10.4B

By Tarek Khaled

RIYADH, Saudi Arabia (AA) - Saudi Arabia's Crown Prince Mohammed bin Salman launched a regional initiative Monday at a cost of 39 billion Saudi riyals ($10.4 billion) to combat climate change and the kingdom will contribute 15%.

In his speech at Monday's Middle East Green Initiative Summit, bin Salman said the kingdom would work to establish a regional early storm warning center.

He also 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.

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 the 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% of global contributions.

*Writing by Bassel Barakat in Ankara