Saudi Energy Minister Prince Abdelaziz bin Salmane has announced a $50 billion commitment to help African countries adapt to climate change. This initiative, announced at the Saudi-African summit in Riyadh, aims to build resilient infrastructure and strengthen climate resilience in Africa.
Comparison with International Contributions
The Saudi prince criticized developed countries’ contributions to the fund to compensate for climate loss and damage, calling them “chump change”. The pledges of around $655 million from the European Union and the United States are deemed largely insufficient by environmentalists.
Transparency and Private Fund Commitment
Private funds, such as those pledged by Saudi Arabia, are often criticized for their lack of transparency and non-binding nature. These commitments include loans and investments, but their actual implementation remains uncertain.
Tensions and debates at COP28
The Saudi minister’s comments reflect the tensions between negotiators at COP28 in Dubai. The question of reducing or phasing out the use of fossil fuels is at the heart of the debate, with diverging positions between developed and developing countries.
Saudi Arabia’s position on Energy Transition
Although Saudi Arabia has invested in renewable energies and improved its energy efficiency, its decarbonization targets do not take into account emissions linked to oil exports, which make up the bulk of its carbon footprint.
The Challenge of Energy Transition in Developing Countries
Yasir Al-Rumayyan, Chairman of oil giant Aramco, highlights the challenges of energy transition in developing countries, where priority is often given to economic growth ahead of decarbonization.
Saudi Arabia’s commitment to Africa marks an important step in the fight against climate change. However, the implementation of this commitment and its real impact on reducing global emissions remain to be seen.
