Its concentrate on the rising journey and tourism business in Saudi Arabia in a sustainable approach contributed to the dominion success story in changing into a frontrunner in sustainability.

The Environmental Efficiency Index ranks 120 international locations on their environmental well being and the vitality of their ecosystems.

In keeping with the newest sustainability evaluation, Saudi Arabia has risen 24 locations within the international Vitality Transition Index since 2021.

The Kingdom climbed from quantity 81 in 2021 to quantity 57 in 2023 on the World Financial Discussion board’s annual Vitality Index Report, exhibiting that it turned the regional chief within the Center East.

The findings are according to Saudi Arabia’s Imaginative and prescient 2030, which seeks to make the nation’s economic system extra sustainable by way of diversification, together with a concentrate on journey and tourism.

The analysis stated that whereas the nation “has lengthy been a dominant participant within the oil market,” it has skilled a “important power transition,” transferring towards renewable power and reducing its carbon footprint.

The report states that the Kingdom’s inexperienced initiatives, such because the institution of the Regional Voluntary Carbon Market Co. (the primary of its variety within the area), contributed to the nation’s rise within the rankings.

The report additionally famous that Saudi Arabia nonetheless has house to scale back power and carbon depth however the progress made by way of substance.

Carbon seize applied sciences and the event of further renewable sources have been additionally highlighted within the report as alternatives for the Kingdom.

As well as, the report highlighted the truth that the Kingdom has dedicated to acquiring 50% of its power wants from renewables by 2030. A number of important initiatives to scale back emissions and modify the home energy combine are being led by the Saudi Inexperienced Initiative as nicely.

SGI’s efforts embrace growing power effectivity, investing in different power sources, and creating a program for carbon seize and storage.

With a purpose of planting 10 billion timber, SGI is taking a calculated method to reforesting the planet. Planting 18 million timber and rehabilitating 60,000 hectares of degraded land in 2022 alone, the initiative efficiently restored vital ecological parameters, enhanced air high quality, and decreased sandstorms.

“The nation’s shift towards renewables, with 11.4 GW capability below growth, represents a major departure from the normal financial mannequin and should have geopolitical implications,” the analysis states.

The report added that with the precise investments, analysis applications, coaching, and training, the Kingdom would possibly turn out to be a robust chief within the power transition.