المملكة: “Green Saudi Arabia” discusses financial innovations within the initiative

Today, the Green Saudi Initiative dialogues witnessed the organization of a session entitled “Empowering Investors,” with the participation of the Vice President for Economic Affairs at the Environment Fund, Hashem Al-Fawaz, and the climate change expert at the National Committee for the Clean Development Mechanism, Nour Al-Qaffas.
The session discussed the importance of financial innovations, public-private partnerships, and regulatory frameworks, and their pivotal role in providing strong links between climate action and investment opportunities, which contributes to empowering individuals and institutions alike.
Al-Fawaz highlighted the Environment Fund’s approach to attracting private sector investments to the environmental sector in the Kingdom, by providing several customized incentive packages, including financial, regulatory and strategic support, with the aim of providing rewarding opportunities and advancing environmental and economic development.

Environmental initiatives

He pointed out that the ongoing environmental initiatives in the Kingdom, such as the Green Saudi Initiative, which aims to plant 10 billion trees, provide important opportunities for private sector companies to enhance innovation and contribute to environmental efforts, in line with the goals of the Kingdom’s Vision 2030.
While Al-Qaffas spoke about the disparity in the distribution of resources between different countries within the global climate finance system, pointing to the varying expectations regarding countries’ contributions according to the stages of development they are going through, in addition to the importance of providing innovative financing tools such as partial investments and crowdfunding in order to enable everyone to access… Sustainable investments.

She stated that the market mechanism to compensate and balance greenhouse gases launched by the Kingdom, and the Regional Voluntary Carbon Market Company, provide examples of local solutions that provide digital platforms that allow the trading of carbon credits at reasonable prices, as she said: “These platforms work to bridge the gap between public policies and individual efforts.” “This allows for broader participation in climate and environmental solutions.”
Tomorrow’s session will be held under the title “Transformation in the Industrial, Agricultural, and Utilities Sector,” with the participation of the Senior Planning Engineer at the Ministry of Energy, Khaled Al-Nasser, and the General Director of Energy and Utilities Affairs at the Ministry of Industry and Mineral Resources, Hisham Al-Fawzan. Nouf Badr Al-Ibrahim, project manager and data expert at the Ministry of Environment, Water and Agriculture.