Experts at a joint UK-Saudi panel highlighted that it is an “exciting time” to be working together and “exploring collaboration” in renewable energy.
The UK-Saudi Renewable Energy Forum brought together Saudi and British ministers, government officials, investors, and business leaders to discuss clean energy programs in both countries. The forum also discussed the finance available to support decarbonization efforts and the green energy transition.
The forum was organized by the Saudi British Joint Business Council. It was attended by a high-level official delegation from Saudi, as well as a private sector delegation. It was meant to build on the success of a previous forum on sustainable investments, held last year in July.
It comes after the launch of the new Saudi Green and Middle East Green initiatives. Both the UK and the Kingdom of Saudi Arabia have continuously stated their commitments to investing in green energy efforts in order to address climate change and meet net-zero emission targets.
“There’s been a strong regulatory evolution across the GCC, so I think it’s a really exciting time to be getting involved in Saudi Arabia,” Ashurst Middle East managing partner David Charlier said.
Green energy is in a massive global spotlight right now. Russia’s war against Ukraine has caused massive energy disruptions and huge spikes in pricing. Europe is currently seeing big problems within the energy sector, with prices now at sky-high levels. The energy efficiency drive is crucial for the UK.
It comes a mere several weeks after a damning, grim report by the IPCC showing that it is now or never for climate change.
Saudi Arabia’s climate envoy Adel Al-Jubeir called recently for an international response to confront climate change. Al-Jubeir, who is also the Minister of State of Foreign Affairs, said that the Kingdom is committed to cooperating with all international and regional partners to combat the impact of climate change. He said there needs to be a serious, effective response to the climate crisis.