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Saudi Arabia warns against ‘unrealistic’ policies to curb emissions

US President Joe Biden (C-L) and Saudi Crown Prince Mohammed bin Salman (C) arrive for the family photo during the Jeddah Security and Development Summit (GCC+3) at a hotel in Saudi Arabia's Red Sea coastal city of Jeddah on July 16, 2022. (Mandel Ngan/Pool/AFP)
US President Joe Biden (C-L) and Saudi Crown Prince Mohammed bin Salman (C) arrive for the family photo during the Jeddah Security and Development Summit (GCC+3) at a hotel in Saudi Arabia's Red Sea coastal city of Jeddah on July 16, 2022. (Mandel Ngan/Pool/AFP)

Saudi Crown Prince Mohammed bin Salman warns that “unrealistic policies” to curb emissions could fuel inflation, as he chairs a summit bringing together Arab leaders and US President Joe Biden.

The kingdom is the world’s largest crude exporter, but Prince Mohammed, the de facto ruler, has tried to make environmentally friendly policies a centerpiece of his reform agenda.

Last year, Saudi Arabia pledged ahead of the COP26 climate change summit to achieve net zero carbon emissions by 2060, sparking skepticism from environmental campaigners.

“Adopting unrealistic policies to reduce emissions by excluding major sources of energy will lead in the coming years to unprecedented inflation and a rise in energy prices, while increasing unemployment and exacerbating serious social and security problems,” Prince Mohammed said.

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