YGRN - Saudis aim for net-zero still retain status as largest crude exporter

Saudi Arabia is joining the net-zero club, with plans to go carbon neutral by 2060. Neighboring Bahrain will also join the pledge, while Kuwait will be involved with Saudi Arabia's commitment. While the Kingdom's framework aligns with China and Russia, the timeframe falls short of other large economies like the U.S., U.K., and EU, which all are targeting net-zero by 2050. Caveat: The promise doesn't include emissions from the massive amounts of oil Saudi Arabia exports around the globe (it pumps one in 10 barrels of oil consumed each day). It will also allow the Saudis to continue burning fossil fuels for decades to come, as well as invest in new oil-and-gas development. Instead, the Kingdom plans on reaching its net-zero target by cutting emissions of methane (30% by 2030) and creating a "carbon circular economy," which includes carbon capture, utilization and storage technologies. Underinvestment in energy is leading to a

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Saudis aim for net-zero, still retain status as largest crude exporter