The King Abdullah Petroleum Studies and Research Center (KAPSARC) and the Atlantic Council held a joint webinar to discuss net-zero emissions within the Circular Carbon Economy (CCE) framework, which is the concept that Saudi Arabia introduced under its G20 presidency, and which was endorsed unanimously during the Leaders’ Summit back in November 2020.
Experts from Saudi Arabia and the United States came together to discuss net-zero strategies within the CCE approach. Several Saudi entities participated, including the Ministry of Energy, Saudi Aramco, NEOM, and King Abdullah University of Science and Technology (KAUST).
Speakers discussed the role of the “Net-Zero Producers Forum” – a forum established between Canada, Norway, Qatar, Saudi Arabia, and the United States – in advancing the concept of the CCE as a comprehensive and holistic solution to managing greenhouse gas emissions, taking advantage of all possible technologies, while considering sustainable development goals according to national circumstances.
The webinar also addressed three innovative technologies that enable reaching a circular carbon economy, such as carbon capture, utilization, and storage (CCUS), hydrogen applications, and nature-based solutions such as afforestation. Experts also discussed the policies and incentives that could help scale-up these technologies in a way that generates positive returns for investors, as well as economic growth.
The Atlantic Council is considered one of the leading think tanks in the field of energy and climate in the United States, and this cooperation is part of KAPSARC’s aim to exchange knowledge and insights with its counterparts in the global think tank community.