Economist / G20 promotes the circular carbon economy, the Saudi Press...

Economist / G20 promotes the circular carbon economy, the Saudi Press...
Economist / G20 promotes the circular carbon economy, the Saudi Press...

Riyadh, Rabi` Al-Awwal 13, 1442 AH, corresponding to October 30, 2020 AD, SPA
At their second meeting of this year on September 27-28, the G20 energy ministers issued a statement, endorsing a circular carbon economy approach as a way to manage emissions and promote access to energy.
The G20 energy ministers approved a cleaner energy approach that includes a circular carbon economy, as the circular carbon economy is a holistic, comprehensive, integrated and realistic approach that works on managing emissions and aims to provide new pathways towards economic growth.
The G20 Energy Ministers said: “We recognize that the circular carbon economy is a holistic, comprehensive, integrated and realistic approach to managing emissions, and it can be applied in line with the country’s priorities and conditions. By including a wide range of avenues and options available, the circular carbon economy takes into account different national circumstances. While we strive to meet our common international aspirations while taking into account national and regional contexts, we will seek to explore various opportunities, including the circular carbon economy platform and the existing G20 programs and initiatives to drive transitions towards affordable and reliable energy for all based on the comments and opinions of the G20 energy ministers In past presidencies, we support the Circular Carbon Economy (CCE) platform and its four “4 R’s” (Reduce, Reuse, Recycle and Eliminate) frameworks while recognizing the importance of reducing greenhouse gas emissions.
The energy ministers of the G20 had held an extraordinary meeting on April 10, 2020 in response to the outbreak of the pandemic.
The circular carbon economy was built on the four elements of its “4Rs” framework: reduce, reuse, recycle, and eliminate, in order to enhance market stability and security and energy access with comprehensive emissions management, in addition to promoting cleaner and more sustainable energy systems. Emissions are reduced by encouraging technologies and innovations such as renewable energy sources, energy efficiency, and nuclear energy.Reuse refers to converting harmful emissions into valuable raw materials for industries by applying carbon capture and use (CCU) and converting harmful emissions into materials of value (E2V). .
Recycling means relying on natural processes and decomposition, including the use of energy carriers such as methanol, ammonia and hydrogen that represent the natural cycle, and finally the removal of emissions from the atmosphere, which revolves around the application of natural and geological extraction of carbon, its storage and extraction from the air directly, in addition to natural solutions to eliminate emissions .
The G20 presented the Circular Carbon Economy (CCE) platform, which includes the approach, guide, and accelerator. The circular carbon economy provides a package of opportunities and recommendations for G20 member states, each according to their different national circumstances.
The King Abdullah Petroleum Studies and Research Center led the efforts of the Circular Economy of Carbon Index, which shows the commitment of the Presidency of the Kingdom of Saudi Arabia to solve energy challenges that include the efforts of the Presidency of the Kingdom of Saudi Arabia to apply the circular economy approach to carbon in the private sector. For example, Saudi – the largest company Oil in the World – on its website: “We are working to adopt and implement energy efficiency technologies and practices and implement them. Energy efficiency is a vital component of our strategy to raise the level of sustainability of our business. Supporting energy efficiency and its practice contributes to reducing emissions and improving the operational performance of our plants and facilities. The existence of societies that preserve the environment. “
The circular carbon economy approach will help in addressing critical issues in the world in achieving energy access for all, and in this spirit it is one of the efforts of the Group of Twenty, especially the vulnerable groups, in addition to supporting institutions with frameworks for private sector employment that enable access to affordable and reliable energy, The G20 member states will implement these systems taking into account the efficiency of the system and national circumstances, including its specific resources and risk-sensitive political, economic, environmental, social and development contexts.
For more information, please visit the official G20 website www.g20.org.
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