SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION

[M069-02] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:04 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Well, Seldom, one feels not only proud of the Friendships that we see around us today this morning, but also seldom to see us gathering here as Saudis, celebrating a dramatic change that is brought by our leaders, specifically a younger leader who is leading all the youngsters, and in that matter, all the young imaginative aspirations and goals for what not Saudi Arabia today, but what Saudi Arabia would be in the future. It is the beholding of today's matter to change it and to move it forward to a better future that will be led by this generation and the generations to come.

[M069-03] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:13 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

So whatever you see today in Saudi Arabia, whatever you see tomorrow in Saudi Arabia is not the work of myself or my generation or the generation that just preceded me or the generation that just came after me; I am empowered by a young leader who has the vision, and he is the owner of that vision, Vision 2030, but the empowerment has spread in Saudi Arabia to the many young people that you saw and many youngsters that are working the day and night delivering not for my future, but for their own future,

[M069-04] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:03:28 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

and I am proud to say in Saudi Arabia, its not the men of Saudi Arabia, but actually it is the women and men that will deliver the future that we all are aspiring for all of our children and the children of our children to live, and what you see and what you will be seeing today and what you will be seeing on Monday is only a prelude of what kind of a vision we would have that would enable us to build bridges between sustainability, economic diversity, economic growth, and enhancement of the wellbeing of Saudi Arabia. I talk to you with no written script, as you can see, it is my joy, it is my pride of belonging to this country, to this nation and to the people of this nation.

[M069-05] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:04:52 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

So without much ado, in the work we have done in delivering this initiatives, we worked with hundreds of young Saudis, girls and boys, trying to live up to the expectations of the world, yet maintaining our credentials of being an honest people and honest people will only make a pledge of what they can deliver, but if they can deliver beyond what they pledge, it will be something to celebrate. So what you have hear his Highness speaking about is a pledge, is an aspiration, it is an aim to enable us to say to the word, yes, we are with you, we share the same concern, we want to evolve and want to move, but actually in many of these initiatives, we want to set ourselves as an example for others.

[M069-06] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:06:16 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

So, to name few, if you permit me, I would like to just go through the details of the initiatives and then you could chew me, you could question me and you could do whatever, I am supported with a THARAA detailed analysis done again by the many hundreds of people that worked on these things. To start with the NDC, the NDC as many of you know is something that it is not a prerequisite for us as Saudi Arabia and many other countries, it is more to do with the annex one countries according to the Paris agreement. However, for wanting to showcase that we are confident enough for what we could deliver. We have decided to issue our NDC this year commensurate with COP26.

[M069-07] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:07:15 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

It is something that we could deliver and it is something that we are proud that we will be delivering, the 278 million tons as his Highness were saying will be done with CCE in mind and you have to understand, as you have seen in the gallery, our ecosystem, our energy, our environmental system or agriculture system are all linked to the CCE because the CCE enables us to see through the 4Rs prism as something that we could do comprehensively. This represents the 278, 35% reduction from the projected base business as usual scenario by 2030 ranging between 741 and 849 and I will come to that, but it is actually more than double of our previous NDC goal of 130 million tons, more than 40% of the 2019 footprint, which is 660.

[M069-08] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:08:47 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

It is not contingent on any type of grant finances or loans, it is actually it is more dependent on the evolution of technologies and the evolution of collective cooperative work of how do we develop and mobilize technologies, and it is built on the notion of innovation, planning, and projects, and also we are working and we are waiting anxiously when we are in COP26, that we sort out what will happen to article 6, where we will be able to domesticate carbon credit and offset schemes to exchange credits among local industries and entities.

[M069-09] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:09:48 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

The scenarios that have described just a result of the scenarios I have described a while ago emanates from the Paris Arrangement and how we have discussed our NDC to enable us to have, it is more or less based on a dynamic scenario as His Highness was mentioning approach, which is consistent with the flexibility for granted for developing countries in the Paris Agreement, the UNFCC subsidiary body for implementing and reviewing the first NDC submissions and also the UN organizations acknowledge and defined dynamic baselines, and the first NDC was issued on that basis.

[M069-10] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:10:45 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

The dynamic scenario are based on the ability of the kingdom to grow and diversified its economy, primarily focus on the export revenues. The kingdom economic growth is driven by the export of its energy sources, no state secret about it, then it will contribute to the meeting of the NDC. That is if our exports are maintained, our ability to reduce our NDC will be happening, and unfortunately, if the reversal happens, however, if economic growth is damned due the lower global demand for oil or the inability to export, it might entail further utilization of this domestically of our energy sources, to fuel the domestic expansion of industries, thereby affecting the kingdom ability to reduce its energy emissions. Keeping in mind that the kingdom is not seeking a financial gain or support toward achieving this NDC, and it will use the best-suited technologies to do so.

[M069-11] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:12:19 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

How to achieve the NDC? It is going to be on contribution achieved by committed actions and projects in the Saudi green initiative, using the CCE approach, as I said, which has a clear structure governance milestone to ensure its implementation. In fact, we will be issuing our CCE strategy, which will really give us that direction and put together the KPIs and put together the milestones, and we will all as a country will be accountable for it. But to name a few: renewable energy, it is amazingly enough that we realize that we can shift our energy mix, whereby we will be using 50% in empowering our power sector and all utilities that will 50% of it will be done on renewables and the other 50 will be the development of more gas.

[M069-12] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:13:31 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

That 50/ 50 will be a major component in the reduction of emission that we have talked about. Why we are doing that? very simply; we are proud Saudi, whereby we have the record, the achieved record of reducing our cost and producing renewable, a record that was also set by our national champion AQUA, which is a 1.04 cent by kilowatt/hour, that record I think will be there for quite some time, but indeed we have even the ability to hope for even additional records to come because the ecosystem that we have developed for incubating more investment in renewable is an incubator that allows for serious competition and may the better win all. Achieving the world largest renewable records is not just only that, that we are aspiring for.

[M069-13] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:15:30 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

We have had a successful energy efficiency program, It is been there for about more than 10 years, 11 years now. So far we reduce by our own calculation and we stand to allow people to come and check it, we have reduced 48 million tons of annual CO2 as a result of just efficiency program so far, plan to further reduce more than 90 million tons annually, focus in three sectors, industrym transportation and building, simply because these three sectors constitute 90% of our energy intake. Keep in focus, a key focus area is handling cement, industry, steel, petrochemical, coal, coaling and building and transport fuel efficiency. Not a lot of people would know that we have something we call Saudi café, which goes hand in hand to what US café standard.

[M069-14] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:16:13 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

And indeed, if the US café standard changes, we will change ours because we will be changing it within the next couple of years. We are also regulating environmental policy and standards as an enabler to push towards more efficiency. We are working on the digitalization system, and we have a record to showcase: in February 2020, we launched our smart meter program, just at the beginning of COVID, not a lot of people would know or do know that in the midst of all the lockdowns, the most serious part of the lockdowns, we were plugging 127,000 smart meters a day in this country. So actually the whole project was concluded by the date of 30th of March 2021, not a day delay, and more important, I compared that with some of our colleagues and friends in Europe, Saudi Arabia, no client that uses electricity in Saudi Arabia that has not got a smart meter with thw exception of only 1,500 customers.

[M069-15] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:17:51 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

In Europe, you still have so many clients that do not have that smart meter. However, we can be proud to say that smart meters will also will have so many applications and it is tied to our telecommunication system to enable that any additional apps that may come to the consumer will be able, even as far as managing his system within the house to ensure that efficiency is within his reach and he can control it himself. Large scared retrofitting project and driving energy saving across all government assets, we have a company called Tarshid, it is now managing and will be working more on 250,000 government buildings. Again, not a lot of people would know or do know that all street lamps and pulps in Saudi Arabia have been changed to our efficient lights LDS, and more so we look forward to additional work, and that program, as I said, will hopefully achieve another 90 million ton.

[M069-16] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:19:17 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Now, the net zero is 202 in 2060, but again, I would remind you of this is a base as usual scenario, we are aiming to do the 2060, however, with the same NDC scenarios, this can be achieved even before subject to the conditionality, as I described on how our diversity program will evolve, how much oil and gas would be exported, in liquid gases I mean, and how much we will be internalizing it as a result of what may happen to the world oil markets and what have you. But subject to that, we have used this flexibility. So it could be ahead of 2060, it could be just after 2060 and it will all depends on this future to come.

[M069-17] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:20:26 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

So it is based on the dynamic baseline as we have discussed in the NDC, we certainly would like to continue the sustainability, sustainable economic growth, and the diversification of the kingdom as a more meaningful way to even enable us and not inhibit us from achieving that aim, taking into account maturity and availability of necessary technology to manage emissions. Again, I have to emphasize in all our endeavors, we are not seeking grants, we are not seeking finance, we are not seeking any monetary support. What we are seeking and you will see on Monday, His Highness have some other initiatives, because we would like to keep you more excited.

[M069-18] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:21:26 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Indeed we will keep the world more excited as we go on evolving, but we believe that carbon capture, utilization and storage, direct air capture, hydrogen and low carbon fuel are the things that will develop the necessary ingredients to really make sure that this effort will be inclusive, because inclusivity is important, and also which will enable us to focus on all greenhouse gases of all sectors and enable people as this technology evolves, making it available for those who can afford it and those who cannot afford it, will help to mitigate emissions in the broader sense of the word emissions, and if you take the 4Rs,

[M069-19] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:22:31 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

And I will let my friend and colleague, Minister of Environment, will talk about the 4th R which is removed, you will begin to see that we are talking about a holistic approach, a technological approach, and it is not based on narrow narratives or condescending top-bottom approaches or being too selective about what gas you may want to get rid of and what guys you may live with, and I will have another thing here just to showcase for you how diverse our ambition is. But in all and all international corporation, in research, in developing these technologies, and more important in deploying these technologies has to happen, and we have something up our sleeves on Monday to hopefully suggest.

[M069-20] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:23:38 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Sorry for taking that much time, why 2060? Primarily because we are as serious as you may hopefully consider us are, you know, and this in accordance to the latest IBCC report, which says that most of these technologies may not mature before 2040. So, if we are relying on this scientific subsidiary body, whom we all honor and accept what they submit, and if they say that these technologies will only mature by 2040, we need to have that time and that space to allow us to do things properly, and again, we have to do it properly, yet make sure that we do not lose sight of our economic well-being because if you impact negatively, your economical being, you are actually impacting the well-being of the people within that sector and within that economy, which also the 2060 would enable us to have a smooth and viable transition without risking economic or social impacts.

[M069-21] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:25:10 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Here you go, again, climate finace, the kingdom, as I said, is not seeking any finance from anybody. The kingdom will support regional initiative projects through the Middle East Green Initiatives, which goes well and well with the Paris Agreement with the notion of the south to the south corporation, we will be supporting the creation of vehicles to assess an advanced climate action in developing countries, and you will see something on Monday, but we will use existing vehicles with general trainview, the Islamic Development Bank, OPEC Fund, Saudi Development Fund, and there are many, and you will see in Monday, some more suggestions in that regard.

[M069-22] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:26:07 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Now, last but not least, we do have, and I know, Ameen is here and he will be giggly and jumpy when I repeat that, but it is something that we are a holder of our a proud thing that we are a holder of, which is reduction. I was called upon and I reached out to His Highness the Crown Prince on the idea of joining the global methane pledge to reduce global methane emissions by about 30% relative to the current 2020, and I was full of joy, but I must confess that I contained, it was actually John Kerry that who did ask me to do so.

[M069-23] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:27:06 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

So I confined it to myself, but I reached out to His Highness and I said Hallelujah, we have a blessing in disguise, and he said, what do you mean? I said: we can stand to commit to this yesterday, because actually, we bring in that initiative, we will be more than helpful to showcase what Saudi Arabia did in emission reduction, not what we will be doing and to name something, which we will have a challenge with, which is our friend in Norwegians, but we really compete head-to-head on who has the lower rate of emissions. We hold a number which is 0.06 in terms of methane intensity; I think sometimes our friends from Norway beat us and sometimes we beat them, but I get a commitment from Ameen that give us a year or two, and our friends, the Vikings, would not be happy with us.

[M069-24] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:28:22 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

But, so what we have is actually when we participate, which is by the way, we will be participating, because we would like to showcase our experience, what we did, how we did it, and how it became a source of growth for our economy. We have a huge two industrial cities in the name of Jubail and Yanbu, they came way much better and way much earlier, and this was done in the 70s when we managed to break and crack and take away the associated gas, frack it or crack it and make all of these things. We had created electricity from methane, designation from methane and then the entire petrochemical industry, which created these two cities and they are life and will continue to be spreading and being enlarged.

[M069-25] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:29:30 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

So, actually capturing methane and making use of it is not just only a mitigation issue for emission, which is, you know, methane is one of the probably worst gases that are being emitted, but it has a huge economic value and it could be a source of a good diversification program. It just so happened, we were lucky to know notice this in the 70s, and that is why we continue we will be doing more, even in our energy mix, we will be in Jafurah. We will be producing so many liquid gases and ethan, and it would be a propeller for more diversity in this sector.

[M069-26] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:30:21 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

What is left for us is something that we a commitment towards, the Minister of Environment, we can talk to you about what we will be doing in terms of diverting from landfill to recycling and waste to energy. We have a commitment and just to give you an example, one example, in Riyadh by 2030, we will clear out 95%, 24% of what these so-called landfills are producing. So, and also we will try to do something when it comes to waste to water treatment. That is what we have to look forward to, I am sure I took so much time, so please if you have anything to ask me please do.

[M069-28] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:32:32 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Well, I like the latter part of your intuitive question, I do not know but what I know is that the world nees everything, we need all sorts of energies, if the world wants to, and I would repeat that I have been repeating that and I would repeat it for, if the word requires to attend to climate change, we need to mitigate all gases that contribute to climate change and we have to look at all sectors and we have to look at all solutions. We have to focus on which of these solution, or solutions in the plural sense, would deliver us an energy system that will enable us to transit into a future, which is a future that we all I think in agreement that we have to reduce emissions. There is no doubt in my mind, and nobody should have any doubt in my mind that this young generation, if permit me if I personalize it, I have a son who will quarrel me for hours about what we are doing in terms of emission reduction.

[M069-29] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:34:02 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

And my son is not the only son here, there are thousands and thousands and thousands of girls and boys who are having the same aspiration, they have the same thinking on, we need a clean future and we always say, amen, but this is all about the devil in the detail. Are we after clean energy? And if it is, yes, we can make gas clean; that is why you had this methane initiative, that is why we are talking about carbon sequesterization, that is why we are talking air capture. That is why we have created this CCE, CCE will if we can get everybody to congregate and we should because the G20 endorsed it and we will be endorsing it, hopefully, in Italy. Look at the CCE, this is a country that is setting itself, as Saudi Arabia, and we would love to be the examplary on that, on how you can do all of the above, getting rid of all the greenhouse gases, yet maintaining your economic growth, but you would not be, you have not become facetious on what source of energy you use.

[M069-30] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:35:19 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

And we are using all of the above, I was a proud person to be engaged in the Cera Week and I said, funny enough, Saudi Arabia is an oil producer, is a gas producer, is a shale gas producer, is wind producer, solar producers, will be hydrogen producer, and again, we have a huge I forgot to mention, we have a huge ambition when it comes to hydrogen and hydrogen is specifically both green and blue. We are putting our money where our mouths are, we are getting 29 million tons. I think by 2030, if my memory somehow slipped it here and somewhere around 40 million tons, somewhere in 35, I have not mistaken, show me any country that will produce that.

[M069-32] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:37:45 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Well, I have to be, because it will be the cheapest way to get us that transition. if you have a level-headed discussion that it is only pure economics and pure technical without any biases, look at the solutions that are available today and look at the trajectory of the cost, and you will see that the world cannot operate without hydrocarbon, without fossil fuels, without renewables, and without a something to do with intermittent, and without none of those things will be the rescuer, none of it with these things will be the savior. It has to be a comprehensive solution, and therefore, if we are congregating on COP26 with a view that we need to be inclusive, inclusivity requires also that you are to be open, to accept what everybody is going to do as long as he contributes to emission reduction, no one should be too facetious about what tool in the kits that everybody would have because the tool in your kit is completely different than mine, but if your tools in your kit and mine deliver us emission reductions, that is the ask and that is the objective.

[M069-34] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:39:52 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Well, I honestly believe that we could share our experience, we are working with so many of our friends here. I know our friend from Iraq ministers somewhere here, we are working with them today, tomorrow we will be signing agreements on doing things on renewable, doing things on gas, doing things, they are doing a brilliant job on how to capture methane. We are sharing with them experiences, we will be sharing through the Middle East Initiative. That is why we have created this Middle East Initiative, because we strongly believe, and we are not, permit me not to just to clarify, we are not here as condescenders sharing our thoughts and, no, we believe in His Highness belief that the Middle East Initiative is to become the incubator of a collective effort with funding that we will be contributing to, and we will be seeking those who believe in collective solutions to come and contribute, because at the end of the day, somebody will have to spend, but spend properly on things that would deliver us.

[M069-35] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:41:18 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

And you see it on Monday, but yes, we are proud to be exemplary, and yes, we are proud to share our ideas, and thoughts, and experiences with our friends, because we really believe that they have the same ambitious. If you, his excellence is here, Minister of Iraq, he will tell you that we have shared our thoughts and ways and we are working with them, because again, the case we have is as similar to the case for Iraq, is as similar as the case for our friend in Brazil and many in Azerbaijan and they will in Kuwait and of course in UAE, Sultana nd I, we share lots of things. Masder is operating with us, we are working together on so many things and this is the kind of thing that will deliver us.

[M069-37] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:42:52 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

Let me put it in reverse order, the youngster is making us we change behavior. They are not waiting for us to change their behavior; their behavior has changed. Unfortunately, we are the back piddlers. We are now changing our behavior too, to attend to their own future. This young generation that I see in Saudi Arabia is not waiting for us to formulate their own future. They are waiting for us to give them and lending them an experienced support. If I were you, I would do this, I would do that, but eventually, they are taking their future into their hand and with a number of young people, I see lots of them around here, they have truly the guts to tell me if I were you, I would not do that, but I take it with a great pleasure, because I know that they have got that level of confidence that I could call them colleagues, and I have to take their opinion, and I had to install that system of a bottom-up approach to enable them to make that decision and to make them to take the call, and quite honestly, sometimes they would blunder me with some a few ideas that never come across my mind.

[M069-39] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:45:00 · SAUDI GREEN INITIATIVE: A TURNING POINT FOR KSA – ON THE PATH TO TRANSFORMATION · 2021-10-23 · مشاهدة عند هذا التوقيت

But we are familiar with shock and how, all what I am asking people, do not trust me, trust the millions of young girls and boys Saudis, who are determined to make their own future, more comparative to your future or the future of your generations. Thank you.