The Environmental Efficiency Index ranks 120 international locations on their environmental well being and the vitality of their ecosystems.
Based on the most recent sustainability evaluation, Saudi Arabia has risen 24 locations within the world Power Transition Index since 2021.
The Kingdom climbed from quantity 81 in 2021 to quantity 57 in 2023 on the World Financial Discussion board’s annual Power Index Report, displaying that it turned the regional chief within the Center East.
The findings are per Saudi Arabia’s Imaginative and prescient 2030, which seeks to make the nation’s economic system extra sustainable via diversification, together with a give attention to journey and tourism.
The analysis stated that whereas the nation “has lengthy been a dominant participant within the oil market,” it has skilled a “important vitality transition,” transferring towards renewable vitality and decreasing its carbon footprint.
The report states that the Kingdom’s inexperienced initiatives, such because the institution of the Regional Voluntary Carbon Market Co. (the primary of its form within the area), contributed to the nation’s rise within the rankings.
The report additionally famous that Saudi Arabia nonetheless has area to cut back vitality and carbon depth however the progress made when it comes to substance.
Carbon seize applied sciences and the event of extra renewable assets had been additionally highlighted within the report as alternatives for the Kingdom.
As well as, the report highlighted the truth that the Kingdom has dedicated to acquiring 50% of its vitality wants from renewables by 2030. A number of important initiatives to cut back emissions and modify the home energy combine are being led by the Saudi Inexperienced Initiative as effectively.
SGI’s efforts embody rising vitality effectivity, investing in different vitality sources, and creating a program for carbon seize and storage.
With a objective of planting 10 billion bushes, SGI is taking a calculated strategy to reforesting the planet. Planting 18 million bushes and rehabilitating 60,000 hectares of degraded land in 2022 alone, the initiative efficiently restored vital ecological parameters, enhanced air high quality, and decreased sandstorms.
“The nation’s shift towards renewables, with 11.4 GW capability below growth, represents a major departure from the normal financial mannequin and should have geopolitical implications,” the analysis states.
The report added that with the precise investments, analysis packages, coaching, and schooling, the Kingdom may change into a robust chief within the vitality transition.