COP26 Climate Change Conference: is Saudi Arabia’s net zero pledge a breakthrough, or just a mirage?

Nov 13, 2021 | INVESTING

There is probably no country on Earth where the economy is more tied up with hydrocarbons than Saudi Arabia.About 42 per cent of the Gulf state’s GDP is linked to oil and gas, according to a research centre linked to the authorities (the King Abdullah Petroleum Studies and Research Centre), while petroleum accounts for more than two-thirds of its exports.So, amid a flurry of announcements ahead of the COP26 UN Climate Change Conference in Glasgow, Saudi Arabia’s pledge to reach net zero carbon…

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