Saudi Arabia Says Will Diversify Oil Economy to Slow Climate Change

Saudi Arabia, the world's largest crude oil exporter, plans to diversify its economy to help combat climate change in a move that could reduce expected carbon emissions by up to 130 million tonnes a year by 2030, the government said on Tuesday.

OPEC member Saudi Arabia is the last of the Group of 20 major economies to submit a plan to the United Nations before a summit in Paris from Nov. 30-Dec. 11 about ways to slow global warming.

It said it was aiming "to achieve mitigation co-benefits ambitions of up to 130 million tons of carbon dioxide equivalent avoided by 2030 annually through contributions to economic diversification and adaptation."

The kingdom did not give details of its emissions.  The World Resources Institute think-tank estimates that Saudi Arabia emits 527 million tonnes of carbon dioxide a year, or 1.22 percent of the world total.

The mere submission of a plan by Saudi Arabia, which says its economy is threatened by a global shift from fossil fuels to renewable energies, is a positive sign for Paris.

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