UK/Saudi Sustainable Investment Forum to spotlight transition to greener economies

The Saudi British Joint Business Council (SBJBC) is hosting a forum in London on July 13, bringing together investors with government representatives to discuss the role of the financial sector in supporting a green-led recovery, and opportunities for co-investment and partnerships.

This in-person and virtual event builds on the success of SBJBC’s Sustainable Investment Roundtable in October 2020. It follows the launch of the “Saudi Green Initiative’ and plans to make Saudi Arabia a major hub for green hydrogen and renewable energy development. It also reflects joint Saudi and UK interest in developing innovative green technologies and carbon capture/storage that help to reduce emissions.

The event — supported by the Federation of Saudi Chambers and the Department for International Trade — will include interactive panels on investment opportunities in the UK and Saudi clean energy innovation and sustainable infrastructure development. Challenges in achieving more convergence on the ranking of environmentally sustainable projects and ESG disclosure standards will also be addressed.

UK Minister for Investment Lord Gerry Grimstone said: “With the UK launching the 10-point plan for a ‘green industrial revolution’ and Saudi Arabia launching the Saudi Green Initiative, this forum shines the spotlight on important sustainable investment opportunities for both nations. I look forward to listening to the speakers and taking the conversation forward as we build a greener, cleaner future.”

Lord Mayor of the City of London William Russell said: “Global financial services will have a substantial role to play in the economic transition to net-zero, and we must also do everything we can to ensure that our recovery from COVID-19 is a sustainable recovery.

“The UK welcomes Saudi’s ambitious green initiatives, which will aim to reduce carbon emissions by 60 percent, as well as the goal to restore 40 million hectares of degraded land.”

SBJBC Saudi Co-Chair Dr. Emad El-Dukair said: “SBJBC has been active in supporting joint Saudi/UK collaboration in key Vision 2030 sectors including smart cities, renewable energy and green finance. I look forward to attending the forum with a significant Saudi public/private delegation and promoting more cooperation in clean technologies and sustainable infrastructure.”