Tag: Saudi Arabia

    Saudi Arabia tops in environmental performance indicators – the Tree Cover Loss and Wetland

    Saudi Arabia has continued its global outstanding performance, outperforming 180 countries in two indicators of environmental performance, ranking first in the Tree Cover Loss and Wetland indicators, Gulf News reported. This is in addition to surpassing 172 countries in preserving and protecting natural environments and preventing the extinction of rare animal species, ranking eighth in […]

    MEED summit will explore sustainability in Saudi Arabia projects on June, 16

    MEED’s 2021 Smart Construction Virtual Summit, a one-day event held by MEED, will take place on Wednesday 16 June from 9:00AM to 5:00PM GST. MEED, abbreviated from the former name Middle East Economic Digest, is a business intelligence tool for the Middle East and North Africa (MENA). It announced the event on its site, everyone […]

    ACWA Power signs MoU with neutral fuels to supply Saudi Arabia’s Red Sea project
    07 Jun 2021

    ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants, has signed a Memorandum of Understanding (MoU) with Neutral Fuels, the GCC’s largest biofuel producer, for future collaboration on the supply of its Net Zero Biofuel™ for Saudi Arabia’s most ambitious regenerative tourism project on the Red Sea coast. […]

    UK ambassador to Saudi Arabia praises Saudi commitment to protecting Red Sea environment
    05 Jun 2021

    Britain’s ambassador to Saudi Arabia has shared his admiration of the work the Kingdom’s government is doing to protect and preserve the environment, Arab News reports. Speaking from the Red Sea coastal town of Umluj, which boasts some of the most beautiful beaches in the country, Neil Crompton praised Saudi authorities for their commitment to […]

    Saudi environmental initiatives raise the bar for action ahead of climate summits
    03 Jun 2021

    The recent announcement of the Saudi Green and Middle East Green initiatives came as welcome news to UN officials in a year that has been described by Secretary-General Antonio Guterres as “make it or break it” for the planet. Unveiled by Crown Prince Mohammed bin Salman on March 27, the Saudi Green and Middle East […]

    Dark sky accreditation: Red Sea Project uses smart light systems

    All Red Sea Project assets, including resorts, hotels and facilities, run through smart control systems that allow enough light as needed while being careful to save energy consumption and reduce waste, said for Arab News Myriam Yaniz, director of lighting management at the company. Red Sea Project is using the technology as it looks to […]

    Saudi Arabia builds Masdar City – world’s first Zero Carbon City

    The United Arab Emirates recent years has announced a commitment to environmental sustainability. The Independent writes about the UAE Green Turn. Let’s check Rahma Khan article out. The United Arab Emirates – the country with the world’s tallest building and fast-growing metropolitan areas – was previously notorious for being one of the world’s top sources […]

    Red Sea Development paves the way for green finance in Saudi Arabia, CFO says

    The Red Sea Development Co. is preparing the ground for green finance in Saudi Arabia, opening the door to a larger group of regional and global investors for the company, CFO Jay Rosen told Al Arabiya. Public Investment Fund-owned Red Sea finalized a 15-year SR14.12 billion ($3.76 billion) green loan facility with four Saudi banks […]

    Saudi Arabia and World Bank create $100m fund to develop sustainable tourism

    Saudi Arabia, in partnership with the World Bank, pledged $100 million to create a global fund for inclusive tourism, according to the kingdom’s tourism minister Ahmed Al Khateeb, The National reports. “This will be the first and the only global fund dedicated solely to sustainable international tourism growth,” Mr Al Khateeb said at the Tourism […]

    Saudi regenerative tourism firm secures $3.76 billion loan and first ever riyal-denominated Green Finance credit facility
    29 May 2021

    The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, state that it has closed a SR14.120 billion ($3.76 billion) term loan facility and revolving credit facility with four Saudi banks, Saudi Gazette reports. TRSDC CEO John Pagano said, “Green Financing accreditation was awarded due to TRSDC’s market leading […]