Saudi Arabia plans to implement a carbon trading initiative as part of broader plans to diversify its energy supplies and reduce emissions . Actually, capturing it makes us make money out of it.” Climate change has become an increasingly important priority within the kingdom as it prepares to host the Olympics in 2020 and as state oil firm Aramco plans to go public . Speaking at the Future Investment Initiative conference in Riyadh , King Abdulaziz bin Salman said that the country ’s energy efficiency and efficiency reforms will help reduce local demand by up to two million barrels per day of oil equivalent by 2020 , compared to previous estimates .
Saudi Arabia plans to implement a carbon trading initiative as part of broader plans to diversify its energy supplies and reduce emissions . Climate change has become an increasingly important priority within the kingdom as it prepares to host the Olympics in 2020 and as state oil firm Aramco plans to go public . Speaking at the Future Investment Initiative conference in Riyadh , King Abdulaziz bin Salman said that the country ’s energy efficiency and efficiency reforms will help reduce local demand by up to two million barrels per day of oil equivalent by 2020 , compared to previous estimates .