Riyadh, Saudi Arabia: Today’s SGI Talks, Empowering the Everyday Investor, featured Hashem Alfawaz, Vice President, Economic Affairs, Environment Fund, and Nour Alqaffas, Climate Change Specialist, Clean Development Mechanism Designated National Authority. The session examined how financial innovation, public-private partnerships, and regulatory frameworks can bridge the gap between climate action and investment opportunities to empower individuals and institutions alike.

Hashem Alfawaz outlined the Environment Fund’s approach to mobilizing private sector investment in the Kingdom’s environment sector. “We offer tailored incentive packages—monetary, regulatory, and strategic support—to unlock opportunities and drive environmental and economic development,” he said. He added that Saudi Arabia’s sweeping environmental initiatives, such as the Saudi Green Initiative target to grow 10 billion trees, present significant opportunities for private sector innovation and participation, aligned with Vision 2030.

Nour Alqaffas addressed systemic inequalities in global climate finance, noting how countries at different stages of development face varying expectations for their contributions, and the importance of innovative financial tools like fractional investments and crowdfunding in democratizing access to sustainable investments. Nour also pointed to Saudi Arabia’s Greenhouse Gas Crediting and Offsetting Mechanism (GCOM) and the Regional Voluntary Carbon Market Company (RVCMC) as examples of local solutions providing affordable, digital access to carbon credits. “These platforms bridge the gap between high-level policy and individual action, enabling broader participation in climate solutions,” she explained.

SGI Talks run daily in the SGI Pavilion at 3pm. Tomorrow’s session, titled ‘Revolutionizing Industry, Agriculture, and Utilities,’ will feature Khalid Alnasser, Senior Planning Engineer, Ministry of Energy, Hisham Alfouzan, General Manager, Energy and Utility Affairs, Ministry of Industry and Mineral Resources, and Nouf Bader Albraheem, Project Manager and Data Expert, Ministry of Environment, Water and Agriculture.

ABOUT THE SAUDI GREEN INITIATIVE (SGI)

Under the patronage of HRH Mohammed bin Salman, Crown Prince and Prime Minister of Saudi Arabia, the Saudi Green Initiative is charting a path for the Kingdom in protecting the planet. With ambitious targets spanning the coming decades, the national initiative aims to improve quality of life and protect future generations by increasing reliance on clean energy, offsetting the impact of fossil fuels, and protecting the environment. For more information visit: www.greeninitiatives.gov.sa

SGI AT UNCCD COP16

  • For the duration of COP16, SGI will welcome the public to a 4,000 m² Pavilion in the Green Zone, where the SGI Gallery will be open to visitors from 9:00am to 7:00pm (Fridays 2:00pm to 8:00pm).
  • SGI Talks, a daily expert-led speaker series, will run from December 5–13 in the SGI Gallery at 3:00pm, offering insights from global and Saudi climate leaders on key sustainability trends and innovations.
  • For those following along at home:
    • Visit our website: Saudi Green Initiatives Forum 2024 | Saudi & Middle East Green Initiatives