7 Emission Reduction Agreements and Memorandums of Understanding (MOUs) Were Concluded to achieve its objectives in Response to the Impact of Climate Change “Saudi Electricity” aims to reach zero climate neutrality in 2050

Saudi Electricity Company (the largest electric power producer, carrier and distributor in the Middle East and North Africa region) has announced its target in reaching reach zero neutrality in 2050 as part of the Kingdom of Saudi Arabia’s directives to reach zero neutrality by 2060.
The company asserted that while it has its significant contributions to the provision of electricity, it believes in its role in countering the impact of climate change and its great responsibility towards achieving the Kingdom’s zero neutrality by 2060, noting that it has therefore developed a strategy for the environment and sustainability.
The company explained in its official announcement today during its special event “Electricity Day”, on the sidelines of its participation in the United Nations Conference on Climate Change, COP28, that it has established its essential foundations for environmental practices and its contribution of reducing emissions through energy efficiency and operating the combined cycle, as well as the development of the electricity transmission grid to a smart grid and electrical connectivity with the neighboring countries, in addition to clean power plants, renewable energy and smart meter projects.
The company addressed on investing in R&D technologies including carbon capture and storage and supporting investments in this field through issuing Green Sukuk and supporting the voluntary carbon market.  The company also worked to build a carbon strategy and a roadmap towards zero neutrality by 2050.
The Company signed 7 agreements and memorandums of understanding with a number of international and local leading companies in various fields (Lucy, Al Fanar, S.I.L. ITALIA, Saudi Chint, Siemens, Schneider, Huawei, IBM and GAC) to achieve the company’s objectives of achieving zero neutrality.
The signing of these agreements and memorandums of understanding by the Saudi Electricity Company is an affirmation of its relentless endeavor to contribute in reducing global warming, addressing climate change, the effects of decarbonization, and achieving sustainability, in line with the objectives of the Saudi Green Initiative aimed at reducing carbon emissions and combating pollution, and continuing in research development, looking forward to the best international practices, and benefiting modern technologies in reducing carbon emissions and combating environmental pollution.
Signing agreements and memorandums of understanding will contribute to cooperation in the areas of research and development for reducing emissions, sponsoring research projects and innovative technologies to contribute to improving energy sustainability and promoting and building strategic partnerships for joint action in the development of sustainable environmental solutions. to promote cooperation with these companies in the areas of green energy, decarbonization and utilization of modern technologies for use in different areas of the company and exploitation in the production of electricity at the highest global standards “.
Executive Vice Chairman Eng. Ibrahim Al-Jarbou Stated: “The signing of agreements and memorandums of understanding will contribute in the cooperation of research areas and development of reducing emissions, sponsoring research projects and innovative technologies to contribute in improving energy sustainability, promoting and building strategic partnerships for joint action in the development of sustainable environmental solutions, In addition to promoting cooperation with these companies in the areas of green energy, decarbonization and utilization of modern technologies for its use in different areas of the company and exploitation in  electricity production at the highest global standards “.
The Kingdom of Saudi Arabia announced in October 2021 its target of zero climate neutrality in 2060. The Kingdom has adopted several initiatives that support the achievement of this goal, including the Green Saudi Program and the Quality of Life Program “One of the Kingdom’s 2030 Vision programs ” and several environmental initiatives through the Carbon Circular Economy Approach, in line with the Kingdom’s development plans, and the empowerment of its economic diversity, in line with the “Moving Baseline”.
Zero climate neutrality “CLIMATE NEUTRALITY” is the product of each country’s initiatives willing to transition to a net zero carbon-gas economy, those are the emissions generated by fossil fuel burning offset by actions such as tree planting.