Saudi Arabia Vision for Circular Economy Carbon in Saudi Arabia

To Achieve Climate Goals, Carbon Capture must Expand Rapidly

Saudi Arabia Vision: RIYADH According to new research released today by Circular Economy Arabia (CEA) about the circular carbon economy in Saudi Arabia, the industrialized world should concentrate investments in carbon gas capture from industrial emissions in the same approach that it supported energy efficiency following the 1973 oil price shock.

To have any hope of achieving the Arabian climate targets, which is a basic part of Saudi Arabia vision 2030, to prevent global warming, massive deployment of carbon capture, which gathers the CO2 from waste gas created by burning fossil fuels, is viewed as essential.

Prior to a High-Level Roundtable on September 27 that brings together top government officials and specialists from the Middle East Gulf, especially Saudi Arabia and United Arab Emirates to discuss how to fast-track the technologies, the CEA report titled “Strategies to Scale Carbon Capture Utilization and Storage (CCUS)” was released.

What are Arabia’s Goals for Circular Carbon Economy in Saudi Arabia?

If the circular carbon economy in Saudi Arabia is to have any chance of keeping the climate change and global warming commitments, governments urgently need to approve carbon management technologies. This report serves as a wake-up call for paying much more regard to this crucial technology.

To achieve Arabia’s goals of keeping global warming to 1.5 to 1.0 degrees by 2050, experts predict that CCUS capacity must increase from 40 million tons today to at least 5,600 million tons by that time. The analysis concludes that CCUS has the ability to contribute one-fifth of the CO2 emissions reductions necessary by 2050 to achieve the goal of “net-zero.”

After CO2 has been gathered, CCUS entails either injecting it into rock layers for long-term storage or converting it into manufactured goods like plastics or concrete.

How Kingdom of Saudi Arabia vision addresses the impact of industries on the world?

The paper on Saudi Arabia vision emphasizes the necessity of de-risking CCUS finance and encouraging clustering in industrial parks in order to increase economies of scale and synergies across many industries, as well as the crucial economy role that market forces played in bringing CCUS to scale.

The research recommends that as nations map out their routes to net zero, CCUS be incorporated into large-scale industrial planning, national recovery plans, environmental, social, and governance standards, and Nationally Determined Contributions.

Additionally, more study and development are required, notably in the area of carbon utilization.

The paper claims that by utilizing its platform for worldwide conversation to boost investment and quicken wider deployment, the CEA is well-positioned to play a significant role in advancing CCUS plans.

Conclusion 

According to the paper which transparently illustrates the plan of Saudi Arabia vision 2023, it’s increasing market transparency with trustworthy, thorough, and timely data would be essential to lowering volatility and encouraging investment in CCUS.

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