A greener future for the Kingdom through forestation

A greener future for the Kingdom through forestation

A greener future for the Kingdom through forestation
Riyadh residents take part in a tree-planting project as part of the Greener Home initiative. (@Riyadh_Green/File)
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Climate change and the health of the world’s forests are intricately linked, with the loss of these natural carbon sinks to fires, logging and desertification contributing to greater emissions and rising temperatures.

According to the Spanish renewable energy company Iberdrola, the loss of forests is harming the world’s biodiversity, depleting the number of pollinating insects, leading to crop failures, increasing food insecurity and risking the emergence of zoonotic diseases like COVID-19.

Forestation is seen as one way to halt and even reverse these dangers. By using technology to convert desert regions into green, nutrient-rich landscapes, forestation can repair the damage caused by climate change and even slow its effects.

As Korena Di Roma Howley wrote in the science news magazine Eos, one of the reasons that climate change is such a dangerous process is that, in time, it leads to a “snowball effect,” in which environmental degradation and extreme temperatures accelerate in tandem.

Forestation can help capture greenhouse gases. Indeed, the Amazon rainforest alone can hold 48 billion tonnes of carbon.

In Saudi Arabia, forestation has become a key focus for many organizations attempting to harness desert land, restore degraded territory and protect what precious forests the Kingdom already has. 

The Saudi Green Initiative has already begun the process of planting some 10 billion trees throughout the Kingdom, with a view to restoring more than 40 million hectares of land. The Middle East Green Initiative, meanwhile, will plant 40 billion trees across the wider region. 

Any forestation project requires long-term thinking of the kind embraced by Saudi Arabia under Vision 2030.

Princess Abeer bint Saud bin Farhan Al-Saud

This effort, first unveiled in 2021, could not come soon enough. Saudi Arabia suffered a 47 percent net loss of tree cover between 2000 and 2020. This ran parallel with an even larger deforestation trend worldwide. Between 2010 and 2020, the UN estimates an annual loss of 4.7 million hectares of forest.

The UN has acknowledged Saudi Arabia’s leadership in forestation, noting the Kingdom’s steadfast commitment to adapting to climate change.

Experts at the Royal Botanic Gardens in Kew, southwest London, say clear guidelines must be followed to optimize forestation, including the prioritization of forests that already exist, collaborating with local communities for sustainability, maximizing biodiversity and carefully choosing where to plant.

In one particularly impressive case of forestation, South Korea experienced an increase in forested land from 4 million hectares to 6.3 million hectares between 1961 and 1995, with total planting exceeding 11 billion trees by 2008.

Another successful attempt at forestation, which bodes well for Saudi Arabia, is that of the Kwimba Reforestation Project, which was launched by the Tanzanian government in 1990 and led to the planting of about 6.4 million trees over a nine-year period.

Any forestation project requires long-term thinking of the kind embraced by Saudi Arabia under its social reform and economic diversification agenda, Vision 2030, and other extended roadmaps. 

For all of us who recognize the urgency surrounding climate change, we must take it upon ourselves to learn more about forestation and to support such efforts boldly and aggressively.

 

Princess Abeer is an international development professional with culture and heritage, peacebuilding, multilateralism and NGO expertise, who has worked for several UN agencies. She currently chairs the Sustainable Development Association, Talga.
 

Disclaimer: Views expressed by writers in this section are their own and do not necessarily reflect Arab News' point of view

PIF-backed ewpartners leads $48m investment in Valuable Capital to propel fintech expansion

PIF-backed ewpartners leads $48m investment in Valuable Capital to propel fintech expansion
Updated 3 min 34 sec ago
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PIF-backed ewpartners leads $48m investment in Valuable Capital to propel fintech expansion

PIF-backed ewpartners leads $48m investment in Valuable Capital to propel fintech expansion

RIYADH: A $48 million investment in Valuable Capital, led by Public Investment Fund-backed ewpartners, will soon expand the Saudi fintech sector, revealed a top official from the funding firm.

Speaking to Arab News on the sidelines of the PIF Private Sector Forum taking place from Feb. 12-13 in Riyadh, co-founder and Managing Partner of ewpartners Jessica Wong explained that the amount would be utilized in the company’s initial public offering route. 

The investment aligns with the Kingdom’s Vision 2030 goals of advancing fintech development and economic diversification, with the industry expected to contribute 4.4 percent to the Kingdom’s gross domestic product, according to a statement. 

Valuable Capital Financial Co., a subsidiary of Hong Kong-based financial institution Valuable Capital Group Ltd, received a license in 2022 from Saudi Arabia’s Capital Market Authority to provide custody, advice, and dealing services in the Kingdom. 

“We invested in this company three and half years ago, and this time, we continue. We launch a new product, targeting $1 billion, and we continue to invest in this company and kick off their IPO procedure,” Wong said. 

“It will be in the company’s IPO route to support the company, not just kick off the IPO procedure in the target market, but also for further expansion in the GCC (Gulf Cooperation Council) region,” she added. 

The co-founder explained the importance of PIF’s support in enabling their role in the local market, citing how their initial partnership laid the foundation for future investments.

“The reason we will be able to play a significant role and also to focus on the most critical sectors here in the local market is because, you know, five years ago, PIF is playing the role as our anchor LP (limited partner) of our first regional focus, a fund here in the GCC with a $400 million and through the fund, we invest a portfolio company like a Valuable Capital,” Wong said.

“Because our performance is to exceed our expectation, we will be able to launch our second fund, which is also targeting $1 billion,” she added. 

During the interview, the managing partner also tackled the rise of fintech in the Kingdom.

“Seven years ago, when we first launched this platform to serve the local growth and expansion, actually we identify ourselves as the co-builder of the local ecosystem, and we have invested across different sectors like digital infrastructure, digital enablement and also cross-border service and beyond,” Wong said.

“Fintech, in our eyes, is one of the most important sectors to support the local ecosystem growth in a more sustainable and more healthy way,” she added.

“This is one of the perfect examples how, as a one of the PIF portfolio, we invest in a particular sector, double the commitment and support its fast growth and also leveraging more FDI (foreign direct investment) and more know-how to support the company, play a bigger role in the global market and build themselves as another successful story,” Wong said.

The managing director used the interview to shed light on some updates regarding the KSA-Sino Logistics Special Economic Zone. 

“This is one of the projects we have been working on for more than five years. Last October, we were able to sign the MOU (memorandum of understanding) together with our strategic partner, which is King Salman International Airport. So, through this framework of our cooperation, we are working very closely with KSIA, the company itself, to make sure that we will be able to build a platform not just for ewpartners portfolio but also for all the ecosystem players, those who are looking to enter Saudi market as a hub or for their global expansion,” she said.

“The pressure is to come from (a) different angle. One of the biggest motivations for us to continue our work and put together our effort is because there is a huge demand here in the market,” the managing partner added.

Wong also said: “So, our project inside the new expansion of the airport will be one of their top choices, and we’ve already received a lot of requests to further discuss when we can launch and upper running service them, and hopefully, we will start the construction this year.”

Now in its third year, the forum — which united more than 90 PIF-backed companies — aims to strengthen supply chains, boost local manufacturing, and accelerate economic diversification under Vision 2030.


Turkish president holds talks with Pakistani premier to discuss Gaza and bilateral issues

Turkish president holds talks with Pakistani premier to discuss Gaza and bilateral issues
Updated 3 min 59 sec ago
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Turkish president holds talks with Pakistani premier to discuss Gaza and bilateral issues

Turkish president holds talks with Pakistani premier to discuss Gaza and bilateral issues
ISLAMABAD: Turkiye’s President Recep Tayyip Erdogan met with Pakistan’s Prime Minister Shehbaz Sharif on Thursday at his office in Islamabad to discuss the situation in Gaza and a range of bilateral issues.
They will sign several agreements for boosting trade and economic ties between the nations, officials said.
Erdogan left his hotel amid tight security, and was welcomed by people in traditional Turkish and Pakistani dresses who lined a key city road that had been decorated with Turkish and Pakistani flags. The crowds danced to the beat of drums as the Turkish leader’s convoy passed through the streets.
Erdogan and his wife, Emine Erdogan, were welcomed by Sharif on their arrival at his office. A band played the national anthems of both countries before a ceremony that saw the leaders inspecting a guard of honor.
Erdogan will jointly chair bilateral strategic cooperation talks and the two sides are expected to sign a number of agreements, according to a government announcement.

Akon, Lil Baby to headline MDLBEAST concerts at Formula E Prix Jeddah 2025

Akon, Lil Baby to headline MDLBEAST concerts at Formula E Prix Jeddah 2025
Updated 8 min 36 sec ago
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Akon, Lil Baby to headline MDLBEAST concerts at Formula E Prix Jeddah 2025

Akon, Lil Baby to headline MDLBEAST concerts at Formula E Prix Jeddah 2025

DUBAI: Akon and Lil Baby are set to perform at the Formula E Prix this weekend in Jeddah, MDLBEAST announced on Thursday.

The global music powerhouse is bringing the stars to the Jeddah Corniche Circuit on Feb. 14 and 15, adding a dynamic entertainment element to the high-speed racing event.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Jeddah E-Prix (@jeddaheprix)

Akon, the Senegalese American singer, producer and entrepreneur known for hits like “Smack That” and “Lonely,” will take the stage on Feb. 14.

Sharing the night with him are Egyptian singer Ruby and rap sensation Wegz.

On Feb. 15, Atlanta rap star Lil Baby — renowned for chart-toppers like “Drip Too Hard” and “Woah” — will bring his signature energy to the stage.

The night will also feature Kuwaiti group Miami Band and Egyptian electronic trio Disco Misr.
 


Saudi teacher wins Gems Education Global Teacher Prize at World Governments Summit

Saudi teacher wins Gems Education Global Teacher Prize at World Governments Summit
Updated 7 min 24 sec ago
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Saudi teacher wins Gems Education Global Teacher Prize at World Governments Summit

Saudi teacher wins Gems Education Global Teacher Prize at World Governments Summit

DUBAI: Saudi teacher Mansour Al Mansour was awarded the Gems Education Global Teacher Prize at the World Governments Summit in Dubai on Thursday.  

Mansour Al-Mansour received the award at the end of the World Governments Summit in Dubai, an annual event that draws leaders from across the globe.

Al-Mansour an educator known for his charity work and instructing prisoners won the $1 million Global Teacher Prize on Thursday.

Al-Mansour is also an author and is known for work in his community, including a program that helped ensure people had access to air conditioning maintenance during Saudi Arabia’s scorching summer months.

The prize is awarded by the Varkey Foundation, whose founder, Sunny Varkey, established the for-profit GEMS Education company that runs dozens of schools in Egypt, Qatar and the UAE.

- With inputs from AP


India, Pakistan exchange fire across Kashmir border — media

India, Pakistan exchange fire across Kashmir border — media
Updated 21 min 18 sec ago
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India, Pakistan exchange fire across Kashmir border — media

India, Pakistan exchange fire across Kashmir border — media
  • State broadcaster PTV says two soldiers and two civilians were injured on the Pakistani side
  • Indian sources blame Pakistan for the incident, though no officials statements have been issued

SRINAGAR: Indian and Pakistani troops have exchanged fire across the heavily militarized Kashmir frontier that divides the two archrivals, with at least four casualties reported by the Pakistani side Thursday.
Kashmir has been divided between the neighbors since they were carved out of the Asian subcontinent at the end of British colonial rule in 1947.
Both nations claim it in full and have fought two wars and numerous smaller battles over control of the Himalayan territory.
Pakistan state broadcaster PTV, citing unnamed security sources, said Wednesday’s incident injured two soldiers and two civilians, all from that country.
Unnamed Indian security officials told broadcaster NDTV that Pakistani troops had fired unprovoked, prompting India’s forces to return fire.
Pakistan’s military declined to comment when asked by AFP. India army officials did not respond to a request for comment.
The incident comes two days after two Indian army soldiers were killed by an improvised explosive device in the region.
A border ceasefire agreement signed by the neighbors in 2003 has largely held in the decades since, but both frequently accuse the other of breaching it.
Last month, India’s army said its soldiers killed two rebel fighters along the Kashmir border as they attempted to cross into the Indian-administered territory.
Several rebel groups have fought Indian forces deployed in the territory, demanding independence for the Muslim-majority region or its merger with Pakistan.
Tens of thousands of people have died in the conflict, most of them civilians.
Fighting has decreased since 2019, when Indian Prime Minister Narendra Modi’s government imposed direct control of the territory from New Delhi after canceling its partial autonomy.
But last year, thousands of additional troops were deployed across the southern mountainous areas following a series of deadly rebel attacks that left more than 50 soldiers dead in three years.
India regularly blames Pakistan for pushing rebels across their shared frontier to launch attacks on Indian forces.
Pakistan denies the allegation, saying it only supports Kashmir’s struggle for self-determination.