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Saudi Arabia ramps up environmental efforts with carbon credit initiatives

In a significant move towards environmental sustainability, Saudi Arabia has placed itself at the forefront of the global green movement. The Kingdom is assertively pushing forward with initiatives aimed at reducing its carbon footprint and achieving carbon neutrality through a robust carbon credit system.

040324_Saudi-Arabia-ramps-up-environmental-efforts-with-carbon-credit-initiatives_Picture of Rabigh mangrove forest saudi arabia_news_visualPicture of Rabigh mangrove forest, Saudi Arabia. AI generated picture.

Louis Corapi, CFO of Gulf Cryo, a Dubai-based gas firm, highlighted the Kingdom's determined steps toward this goal, notably with the establishment of a carbon capture and utilisation facility in Rabigh. This initiative underscores Saudi Arabia's commitments under Vision 2030 and its pledge to achieve carbon neutrality by 2060, emphasising the importance of carbon credits in these efforts.

Read more: Record-breaking Nairobi auction: Saudi Arabian firms vie for 2 million carbon credits

Saudi Arabia's approach to carbon neutrality encompasses various sectors, including transportation and energy, underlining the necessity of reducing emissions and implementing offset measures. The country's endeavour includes the development of facilities capable of capturing over 1,000 metric tonnes of CO2 daily, significantly reducing fossil fuel consumption.

With a goal to capture 44 million tonnes of carbon annually by 2035, Saudi Arabia is setting a high benchmark for emission reductions. Plans are also underway to create a carbon capture hub in Jubail, enhancing the Kingdom's capacity for sustainable energy production.

Gulf Cryo's collaboration with Petro Rabigh, a Saudi Arabia–based company which produces and markets refined hydrocarbon and petrochemicals, has resulted in a groundbreaking carbon capture facility, marking a vital step in the Kingdom's sustainability journey. This facility, operational since 21 December 2023, aims to significantly reduce carbon emissions, offering a model for integrating carbon capture technologies into industrial processes.

Read more: The importance of carbon offsetting in achieving net zero

This development not only represents Saudi Arabia's commitment to leading in sustainability but also showcases a viable path for industries to adopt greener practices, reinforcing the Kingdom's position as a proactive participant in global environmental stewardship.

Within the sphere of effective worldwide carbon initiatives, DGB Group sets a benchmark for environmental responsibility and the implementation of impactful nature-driven solutions. As a publicly listed company with a defined mission of restoring nature, DGB distinguishes itself as a developer of large-scale, high-quality projects centred on carbon and biodiversity. The carbon units (carbon credits) generated by these projects are recognised and validated by leading verification standards, capturing the true spirit of nature-based solutions.

Contribute to nature through DGB’s carbon units

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