Top oil exporter Saudi Arabia targets net zero emissions by 2060

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Top oil exporter Saudi Arabia targets net zero emissions by 2060
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Saudi Arabia, the world's top oil exporter, aims to reach net-zero emissions by 2060, Crown Prince Mohammed bin Salman pledged at an environment conference in the kingdom

To tackle climate change while ensuring oil market stabilityRIYADH, Oct 23 - Saudi Arabia's crown prince said on Saturday that the world's top oil exporter aims to reach "net zero" emissions of greenhouse gases, mostly produced by burning fossil fuels, by 2060 - 10 years later than the United States.

Amin Nasser, chief executive of the state oil giant Saudi Aramco, said it was counterproductive to "demonise" hydrocarbons. He said Aramco aimed to expand its oil and gas production capacity while also achieving net zero emissions from its own operations by 2050.

Saudi Arabia's economy remains heavily reliant on oil, although the crown prince is trying to promote diversification. Another Gulf oil producer, the United Arab Emirates, this month announced a plan for net zero emissions by 2050.The non-profit Climate Action Tracker consortium gives Saudi Arabia its lowest possible ranking, "Critically insufficient".

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