Saudi Arabia—Green Saudi Company for Carbon Services
In 2017, the Saudi Electricity Company (SEC) announced a partnership and cooperation agreement with Petroleum, Chemicals & Mining Company Limited, a subsidiary of the Saudi Binladen Group, to establish the Green Saudi Company for Carbon Services.
The company seeks to develop and manage carbon emissions reduction programs and sustainable development mechanism projects. It also aims to support the fight against environmental pollution in accordance with regional and international agreements and protocols as well as local regulations. The Green Saudi Company for Carbon Services is a step forward towards reducing emissions and controlling pollution, and will also help to achieve Saudi Arabia’s INDC pledge to the Paris Agreement.
The establishment of a company solely focused on GHG emissions is significant for several reasons. First, the initiative is supported by top senior level policymakers in the Ministry of Energy, Industry and Mineral Resources and other agencies concerned with clean energy. Second, it demonstrates the Saudi government’s serious commitment to its role in international carbon-reduction programs in light of the Paris and Marrakech climate conferences. The Green Saudi Company for Carbon Services will implement clean energy and carbon reduction projects that support the Paris Agreement and the United Nations Framework Convention on Climate Change. It will also issue and market renewable energy certificates (RECs) for national companies. This program can be adapted by other oil-producing countries in the Middle East such as Iraq, Iran, United Arab Emirates, and Qatar.
Green Saudi Company for Carbon Services Established. 2017. Zawya. February 20. Accessed from https://www.zawya.com/mena/ar/story/%D8%A5%D9%86%D8%B4%D8%A7%D8%A1_%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9_%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9_%D8%A7%D9%84%D8%AE%D8%B6%D8%B1%D8%A7%D8%A1_%D9%84%D8%AE%D8%AF%D9%85%D8%A7%D8%AA_%D8%A7%D9%84%D9%83%D8%B1%D8%A8%D9%88%D9%86-ZAWYA20170220040349/
Green Saudi Company for Carbon Services to Focus on Emissions Reduction. 2017. Gulf News Journal. March 2. Accessed from http://gulfnewsjournal.com/stories/511086310-green-saudi-company-for-carbon-services-to-focus-on-emission-reduction
Taha. Sharif. 2017. Saudi Electricity Company Signs a Pact with PCMC to Reduce Carbon Emissions. Arab News. February 22. Accessed from http://www.arabnews.com/node/1058011/saudi-arabia