Saudi Arabia launched the Saudi Green Initiative in November as the Kingdom continues its journey toward a sustainable future. Sustainability is at the heart of Saudi Vision 2030, as the Kingdom aims to achieve net zero by 2060. Initiatives will focus on reducing desertification and ways to promote biodiversity, improving the quality of life, and peace of mind.
In this article, we will explain everything about the new business opportunities in Saudi Green Initiative Program. The Saudi Green Idea looks to a cleaner, more sustainable future. It will consider input from various scientific and research bodies, as well as organizations that understand well over 60 professionals on soil, water, global warming, and desertification.
1. What is Green Initiative Saudi?
A universal analysis by the International Business Management (IBM) Institute for Business Value (IBV) revealed that sustainability is triumphing on corporate agendas. Figures showing that 62% of CEOs surveyed in Saudi Arabia consider increasing sustainability a top priority. These figures are 14% higher than the world average.
IBM’s analysis – Own Your Effect: Practical Pathways to Transformational Sustainability – covered well over 60 CEOs in Saudi Arabia. More than 50% of them are confident of getting their sustainability with 28% in the phase of using their tactic. 52% of them state that they are partially applying their tactics.
On the other hand, more than 60% of CEOs surveyed in Saudi Arabia rank sustainability among their biggest near-term challenges. Figures showing that 60% list return on investment (ROI) and unclear economic benefits as one of the most important challenges. Additionally, 53% of respondents worry about a lack of data understanding and 45% are concerned about technology barriers.
Business initiative in Saudi Arabia has a network of professionals in the field. Also, beneficiary specialists with occupations throughout the life of a company in the Kingdom of Saudi Arabia. Occupations integrate Saudi Arabia market research and assessment, Saudi Arabia business case, Saudi Arabia business model development, Saudi Arabia business plan/feasibility analysis, Saudi Arabia organizational and operational structuring, sponsorship and pooling of Saudi Arabia, Saudi Arabia Organization Formation, and various others.
2. How Saudi Green Initiative Program is useful for the environment?
The Kingdom of Saudi Arabia is a global energy producer, committed to advancing the fight against global warming through policy-rich thinking. The Saudi Green Idea launched a comprehensive and ambitious effort to reverse environmental degradation and global warming through regenerative development, conservation, and sustainable practices.
It is designed to harmonize the sustainable programs of Vision 2030 and work with the future of the habituation of humans and industries that coexist with nature. Saudi Arabia is quite vulnerable to global warming, yet the 2020 EU JRC ranked it as the ninth largest emitter of carbon dioxide emissions from fossil fuels.
Desertification, wind pollution, and water scarcity are problems that the territory will continue to face since less than 2% of its territory is arable. With this new idea, there will be a strong commitment to research, sharing of best practices, and business development in technology in the direction of sustainability and green energy. This idea will be based on national and global public-private partnerships.
3. Benefits of Saudi Green Initiative
To offset the emissions, the Saudi Green Idea will invest in greater public transportation through the construction of railways and other low-carbon solutions. According to the World Energy Agency (IEA), the idea aims to minimize carbon dioxide emissions in the area by 60% and remove MTCO2 emissions through the use of clean hydrocarbon technology.
The Kingdom aims to reach net zero by 2060, 10 years ahead of China and Russia and plans to plant 10 billion trees in the country. In addition, the Kingdom will increase protected areas by 30% in a recomposition program that will reintroduce and promote gazelle, oryx, and Arabian leopards.
As a case in point, there are currently less than 200 Arabian leopards in the wild and they will remain classified as “critically endangered” by the World Alliance for Conservation of Nature. In September 2021, an entirely new female Arabian leopard emerged, marking a critical step toward the emergence of the endangered species.
Custody of the leopard is a goal of Reema bint Bandar Al-Saud, Saudi Arabia’s ambassador to the US and founder of Catmosphere. Catmosphere joined forces in February 2022 with the AlUla Royal Commission in a memorandum of knowledge to protect the leopard.
The Saudi Green Idea belongs to the Vision 2030 goals. In the goals, the Kingdom has already begun to build locations of the future, such as The Line at NEOM, which will be 100% powered by renewable energy.
The Kingdom has invested a massive amount of millions of dollars in sustainable initiatives, technology, and infrastructure. The Saudi Green Initiative is an actionable effort. By design, is assumed as future locations and conservation efforts have no chance of succeeding without measurable change.
4. How it will help in an international way?
The idea and its effect extend beyond the Saudi borders. It can act as a driving force to engage Arab League nations in compensating for the effect of fossil fuels and investing in clean hydrocarbon technologies. Saudi Arabia’s efforts on global warming also serve as a profound point in the interaction between the US and Saudi Arabia. Especially under President Biden.
The Middle East Green Idea is part of the Saudi Green Idea that aims to encourage climate action in the area and with global allies. John Kerry, President Biden’s private presidential climate envoy, traveled to Saudi Arabia in October 2021 to participate in the Middle East Green Initiative Forum, an idea that aims to generate an agreement between the nations of the territory and bring together resources to defend the area by means of oceans, shared land and wind.
According to Kerry, the Saudi Green Idea is “a pretty fundamental step,” the kind of “idea that we need around the world: planting trees, starting to move to various kinds of innovative resolutions that lower emissions, to tackle wasting more effectively.”
The Saudi Green Idea will design innovative resolutions to help combat the climate crisis. The idea will also provide an enormous investment possibility for the private area and quality job opportunities at all times. Likewise, the idea will enhance world partnerships. This is through the exchange of knowledge and superior practices that will have an effect on the planet.
5. Business Opportunities
The Saudi Arabian General Investment Authority (SAGIA) has an entirely new outlook for the future of Saudi Arabia’s earnings. In addition to the oil industry, they yearn to produce a new environment that will unlock business opportunities, broaden the economic base, and the proportion of jobs for all Saudis
They will do this by leveraging Saudi Arabia’s unique location and potential, attracting top talent, and increasing universal investment. Over the past decade, the retail area has achieved a preeminent annual growth rate of 10 percent.
While it currently employs 1.5 million workers, only 0.3 million of those employees are Saudis. They commit to providing job opportunities in every part of the nation for an extra million Saudis in the near future. They will do so by creating a retail sector that attracts trendy, local, regional and global brands. In addition, they will expand the role of e-business to 80 percent of the retail sector by 2020.
This will be achieved by attracting regional and global retail investors and easing limitations on foreign investment and ownership. SAGIA will facilitate the local and regional flow of goods and will develop basic sectoral regulations.
In addition, they will increase the financing of small retail companies to stimulate their growth and development. SAGIA has launched a new licensing service aimed at entrepreneurs and innovators looking to start projects in the Kingdom; It will also grant licenses to entrepreneurs who wish to launch projects that are approved by Saudi universities or businesses.
To be licensed, local, regional and global entrepreneurs must submit their organization’s byl aws and a letter of sentiment from a Saudi university or one of the Kingdom’s approved organization incubators.
Let us advise you throughout this process so that everything goes smoothly. You only have to contact us through the following email contact@companyformationsaudi.com and we will gladly resolve each of your concerns.