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Net-Zero Producers Forum Concludes 2nd Ministerial Meeting in Riyadh, Brings Together Six Participating Countries

16/05/2024 Global events

The Net-Zero Producers Forum has concluded its second Ministerial Meeting in Riyadh, bringing together ministers from the six participating countries: Saudi Arabia, Qatar, UAE, the US, Norway, and Canada, representing three continents.

The discussion centered on the crucial topic of net-zero and climate plans, aiming to accelerate just energy transitions and help achieve net-zero emissions while supporting sustainable development and energy security.

Ministers welcomed the outcomes of the 28th UN Climate Change Conference in Dubai, the global efforts of methane emissions abatement, such as the Global Methane Pledge and the Zero Routine Flaring initiative (ZRF), and the work member countries are undertaking in carbon management and methane emissions abatement, emphasizing thier core role in addressing climate change and reducing greenhouse gas emissions.

Ministers commended the Working Group on Deployable Methane Technologies that culminated in the launch of the Upstream Methane Emissions Abatement Toolbox that was launched at COP28, and look forward to the continued expansion of this toolbox.

In a continuous display of innovation and collaboration, Ministers launched a new Working Group on Carbon Utilization and Storage focusing on advancing and promoting cutting-edge technologies for the utilization and storage of carbon dioxide to support reducing emissions and creating value-added products, thereby contributing to a sustainable and circular carbon economy, as well as recognizing the role of non-combustion uses of hydrocarbons in energy transitions and reaching net zero.

To enhance transparency and stakeholder engagement, the Net-Zero Producers Forum launched its website serving as a digital platform for information, updates and resources related to the Forum's activities, initiatives and progress towards its objectives.

The Net-Zero Producers Forum remains steadfast in its dedication to advancing just energy transitions through collaboration, sharing of expertise and experience, and leveraging technology and innovation.