NEW YORK - SPA
Saudi Arabia Adopts Low-Carbon Economy Concept to Preserve Environment, Finance Minister Says

The Kingdom of Saudi Arabia affirmed that the G20 under its presidency, adopted two specific initiatives related to the environment; the first regarding mitigation of desertification and the increase in green areas, and the other adopts the concept of low-carbon circular economy, which will have the greatest impact on preserving the environment and sustaining resources.

This came in the Kingdom of Saudi Arabia's speech delivered by the Minister of Finance and Acting Minister of Economy and Planning, Mohammed bin Abdullah Al-Jadaan, during the high-level political forum on sustainable development organized by the United Nations Economic and Social Council on July 7-17, 2020.

Al-Jadaan also said that we, in the Kingdom of Saudi Arabia, believe that what the world is going through because of the novel coronavirus pandemic is a historic opportunity of which we should take advantage.

He explained that the coronavirus pandemic had caused a negative impact on all aspects of daily life all over the world and had a direct impact on health, economy, employment and food supply chains while it created a valuable opportunity to rebuild the economic, social and environmental system to be more sustainable.

He further pointed out that there is one lesson to be learned from this crisis, which is the need for joint cooperation and concerted global efforts to find effective solutions to meet the current challenges in light of the rapid and sudden changes that impeded the desired progress for achieving social welfare, economic prosperity and environmental development.

Al-Jadaan added that the Forum’s interest this year in “accelerating action procedures and adopting transformation pathways: to achieve a full decade of achievement and work for sustainable development” comes in line with the Kingdom of Saudi Arabia’s commitment to move towards achieving sustainable development goals, which fundamentally keep pace with the Kingdom’s Vision 2030 and its national plans at their economic, social and environmental dimensions.

He went on saying that at the social level, since the beginning of the outbreak of the coronavirus, the Kingdom of Saudi Arabia has worked without hesitation to make human health as its top priority by preserving the safety of citizens and residents and providing all health and precautionary measures to prevent the spread of coronavirus, according to wise directives from the leader of the march, the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud who affirmed that the Kingdom is continuing to take all precautionary measures to confront this pandemic and limit its effects, with the help of God Almighty, then with its capabilities.

He drew attention that, accordingly, the Kingdom’s government has worked to review and re-direct some of the budget allocations to the health sector in the first place and towards the most needy sectors. 

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