Saudi Arabia Announces Domestic Greenhouse Gas Credit Initiative

Saudi Arabia on Monday unveiled an initiative to allow companies to purchase credits offsetting greenhouse gas emissions, part of the Gulf kingdom's stated goal of hitting net-zero emissions by 2060. Carbon credits have become popular tools globally for companies seeking to offset their carbon emissions and proclaim their commitment to the environment. AlJishi told a panel on Monday that Saudi officials were keen to implement safeguards against "double counting and double issuance". Saudi Arabia announced in 2021 that it was targeting net zero emissions by 2060. Environmental activists are skeptical, pointing to simultaneous calls by Saudi officials for ramped-up investment in fossil fuels.