Riyadh (Al-Ittihad)
Saudi Crown Prince Mohammed bin Salman stressed that the major challenges that the world has recently faced due to the “Covid-19” pandemic and geopolitical conditions require more concerted international efforts to recover the global economy and achieve food and health security.
In his speech, delivered on behalf of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, at the Jeddah Summit for Security and Development, he expressed his hope that the summit would establish a new era of joint cooperation, to deepen the strategic partnership between our countries and the United States, to serve common interests. and enhance security and development in this vital region for the whole world.
He explained that the environmental challenges that the world is currently facing, especially climate change, and the determination of the international community to maintain the Earth’s temperature according to the levels set by the Paris Agreement, require dealing with them realistically and responsibly to achieve sustainable development, by adopting a “balanced approach”, through a gradual and responsible transition. Towards more sustainable energy sources that take into account the circumstances and priorities of each country.
He said: The adoption of unrealistic policies to reduce emissions by excluding major sources of energy without taking into account the impact of these policies on the social and economic pillars of sustainable development and global supply chains, will lead in the coming years to unprecedented inflation, rise in energy prices, increase unemployment and exacerbate serious social and security problems. , including the increase in poverty and famine and the rise in crime, extremism and terrorism.
He stressed that the growth of the global economy is closely linked to benefiting from all available energy sources in the world, including hydrocarbons, while controlling their emissions through clean technologies, which enhances the possibility of the world reaching zero neutrality in 2050 or earlier while maintaining the security of energy supplies.
He added: The Kingdom has adopted a balanced approach to reach net neutrality on carbon emissions by following the circular carbon economy approach in line with its development plans and enabling its economic diversification without affecting growth and supply chains, while developing technologies with global participation to address emissions through the “Green Saudi Arabia” and “Green Middle East” initiatives. To support these efforts locally and regionally.
He also stressed the importance of continuing to invest in fossil energy and its clean technologies, and encouraging this over the next two decades to meet the growing demand globally, with the importance of reassuring investors that the policies that are adopted do not pose a threat to their investments to avoid their reluctance to invest and to ensure that there is no shortage of energy supply that would lead It affects the global economy.
Prince Mohammed bin Salman said: “The Kingdom will play its role in this field, as it announced an increase in its production capacity to 13 million barrels per day,” adding, “After that, the Kingdom will not have any additional capacity to increase production.”
He stressed that the future of the region that we seek requires adopting a vision that prioritizes achieving security, stability and prosperity, and is based on mutual respect among the countries of the region, strengthening common cultural and social bonds and confronting security and political challenges, towards achieving comprehensive economic development.
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