Font Size

- Aa +

Wed 30 Nov 2011 06:42 PM

Font Size

- Aa +

Saudis ‘will never’ contribute to $100bn green fund

UN fund is concern of world’s richest nations, not developing states, says official

Saudis ‘will never’ contribute to $100bn green fund
The Green Climate Fund is not the concern of developing nations, said al-Sabban

Saudi Arabia “will never contribute” to the United Nations’ $100bn Green Climate Fund, which should be financed by the governments of developed nations, according to the kingdom’s chief climate negotiator.

“Saudi Arabia and other developing countries will never contribute to this fund as some developed countries are suggesting,” Mohammad al-Sabban said today in an emailed response to questions.

“It is not acceptable to ask developing countries to contribute to the fund, because and as stated in the Climate Convention, it is the responsibility of the developed countries,” he said referring to the United Nations Framework Convention on Climate Change or UNFCCC.

“We are very strong on this point along with other developing countries.”

The Green Climate Fund, which was central to agreements reached last year by UN treaty negotiators in Cancun, Mexico, is being discussed at climate talks in Durban, South Africa that began this week. The world’s richest countries pledged to channel $100bn annually by 2020, part of it through the fund, to help poorer nations reduce greenhouse-gas emissions from energy production and adapt to effects of global warming such as rising sea levels.

Saudi Arabia should be compensated from the fund as climate policies may lead to a loss in oil income to the kingdom, the world’s largest crude exporter, al-Sabban said.

“Those developing countries who are going to be adversely impacted as a result of climate policies should be assisted by the Fund to adapt to such impacts including helping us in achieving economic diversification and reduce our dependency on the exportation of crude oil,” he wrote.

There should be funding to support carbon capture and storage projects in developing countries, in particular fossil fuel exporters such as Saudi Arabia and the UNFCCC should have full authority over the Green Fund rather than the World Bank, al-Sabban said.

“We are fully aware of the economic crisis that the EU and other Organization for Economic Cooperation & Development countries are facing, but that should not lead us to change their commitments,” he said.

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
abdul hafeez sheikh 7 years ago

why should KSA pay for the pollution created by Developed countries

Bill 7 years ago

Hmmm, so Saudi Arabia sees itself as a developing country. Interesting. I wonder if they view themselves as being on par with, oh, say Rwanda or Nepal?
What's next? Will they be applying for foreign aid?
Talk about being mean spirited and in full denial as to their global responsibilites.

Omar 7 years ago

What a totally uncaring and unreasonable rsponse from Saudi Arabia. This is one of the wealthiest countries on the planet, earning around USD 1.00 billion per day from exporting crude oil the primary source of global warming. Now they want to portray themselves as a developing nation, demanding compensation for lost oil revenues should the world wean itself off consuming such huge qualtities of environmentally unfriendly oil.

Both the consumers and suppliers of the product that causes the problem should pay!

Asaad 7 years ago

The frustration on Saudi refusing to pay in order to face up to its "global responsibilities" is understandable. But even so, we must not cloud our judgement in the face of reason; developed nations are, by far, the largest contributors to global pollution. The country may not be on par with "Rwanda or Nepal", but just because the it has money does not mean we should pay for the excesses of the already-rich. Whether Saudi pays or not, is a different argument.

Omar 7 years ago

As Mr. Abdulhazfeez suggested. How about each country pays in percentage to the percentage of pollution they produce ? :)

Mudassir 7 years ago

Why should KSA pay?

Reda 7 years ago

What's next? Actually we need to ask what is before. It is the US is also trying to be treated as a developing country. Did you ask why is that the US is not in the Koyoto Protocol as other "developing" countries? Why is it resisting any legal form unless India and China sign on??? The answer is the US is developing country.