- Recently, Saudi Arabia, one of the world’s largest oil producers, announced that it will reach “net zero” greenhouse gas emissions by 2060.
- The announcement came at the start of the kingdom’s first-ever Saudi Green Initiative (SGI) Forum. SGI aims to raise the vegetation cover, reduce carbon emissions, combat pollution and land degradation, and preserve marine life.
- Aims to reach zero-net emissions by 2060 under its circular carbon economy programme while maintaining its leading role in strengthening security and stability of global oil markets.
- That approach focuses on still unreliable carbon capture and storage technologies over efforts to actually reduce global reliance on fossil fuels.
- It would join a global initiative on slashing emissions of methane by 30% from 2020 levels by 2030, which both the United States and the European Union (EU) have been pressing (Global Methane Pledge).
- Net-zero, also means carbon neutrality, is a state in which a country’s emissions are compensated by absorption and removal of greenhouse gases from the atmosphere.
- It does not mean that a country would bring down its emissions to zero. That would be gross-zero, which means reaching a state where there are no emissions at all, a scenario hard to comprehend.
SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT