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NewsTranscript
00:00 - Welcome, Riham. Welcome, Vicky. - Welcome, Ms. Zamaieh.
00:03 First, I want to start with one of the most important news that is being talked about today,
00:08 which is your invitation to the Carbon Market Conference in the South of the World
00:13 to Riyadh company, in the FII conference this year.
00:18 What is the main reason behind that?
00:20 I am very happy with the question and I am very happy with the invitation to talk about the conference and the company in particular.
00:28 First, let us remember that climate change is one of the most important challenges that we face globally
00:37 and one of the most important challenges that our region is facing.
00:40 Therefore, we must use all the available tools we have to face this challenge.
00:46 The carbon market is one of the most important tools that can face this challenge.
00:56 Saudi Arabia has a leadership through the Vision 2030, through the Green Saudi Initiative.
01:05 We work in the regional carbon market, which is a Saudi company that launched last year
01:12 and we have done two of the biggest increases in the history of the market.
01:17 One of the most important challenges we face is the climate challenge and also the achievement of the goals of the Green Saudi Initiative.
01:26 Therefore, we are hosting this year, in cooperation with the S&P Global company,
01:33 here in the FII, a conference on the carbon markets in the South of the World, the Riyadh edition.
01:42 We will bring different parties, from governments, standards makers, buyers and sellers,
01:53 to discuss what we want and to take a unified position before the parties' conference or COP28, which will be held in Dubai.
02:01 We are now in the COP28 in Dubai. How will you coordinate your agenda with the COP28 or the conference?
02:17 What are the most important issues that will be present for these economic events?
02:23 As you know, during the COP28, all the countries will discuss the carbon market issues.
02:40 How to facilitate these markets and how to speed up the demand because they are facing the climate problem.
02:51 What we want to do with this conference is to give recommendations.
02:59 We want to give recommendations on what we want to achieve from the negotiators.
03:10 Therefore, we brought all the parties, the workers and the activists in the market from different countries.
03:17 We have countries from Africa, India, legislators, governments, and private sector companies.
03:29 We will give some recommendations in a unified voice on how to agree with us and what we want from the negotiators.
03:37 Let's talk a little about the available investment opportunities in Saudi Arabia, in the Middle East,
03:43 and in the carbon market.
03:47 Especially, the transition to clean energy and sustainability.
03:54 To what extent are you creating investment opportunities for the carbon market?
03:58 The president of the parties announced that in order to reach the goals of zero emission by 2030,
04:10 we must invest, and the active countries, about 2.4 trillion dollars in innovations in the fight against climate change.
04:25 The carbon markets are a good opportunity to invest in terms of supply and demand.
04:32 In Saudi Arabia, there are two great opportunities, but they are more than that.
04:43 The first opportunity is the blue carbon.
04:46 Saudi Arabia has long beaches on the Red Sea and the Arabian Gulf.
04:52 Through this, we can grow mangrove trees and green herbs, which absorb and distribute a large amount of carbon in a geological way.
05:04 There is also a carbon storage land, which is called CCUS, Carbon Capture and Storage.
05:12 Saudi Arabia has a lot of resources for solar energy, and how we get carbon out of the air and store it underground through geological storages.
05:25 We must also remember that our companies will invest in these projects, and will build job opportunities.
05:34 We must also remember that the carbon market company has innovated last year.
05:43 We cooperated with two different banks to issue the first fatwa to help enable the use of carbon-based certificates as a means of Islamic financing.
05:56 The Islamic financing last year alone reached 2 trillion dollars, and in Saudi Arabia alone, it reached half a trillion dollars.
06:06 Imagine if we used some of this money to help the markets.
06:11 Thank you very much, Ms. Reham Al-Gizi, CEO of the Carbon Market Company.
06:17 I wish you all the best in your work.