Saudi Arabia and the World Economic Forum’s (WEF) innovation platform, UpLink, have recently inked two pivotal agreements to propel innovative global solutions aimed at addressing environmental and sustainability challenges. The agreements were signed on the sidelines of Davos 2024, the World Economic Forum Annual Meeting in Switzerland. They aim to catalyze transformative actions to support the circular carbon economy as well as combat issues such as ocean degradation and biodiversity loss.
Ocean positivity and circular carbon economy
The agreements with UpLink, endorsed by H.E. Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning, and Børge Brende, President of the World Economic Forum, focus on:
- Catalyzing Innovation for an Ocean-Positive Economy
- Catalyzing Innovation for a Positive Circular Carbon Economy (CCE)
Hence, the collaborative effort between Saudi Arabia and UpLink seeks to support early-stage impact entrepreneurs to create breakthrough solutions that contribute to sustainable development.
Ministries and initiatives
The Ministry of Economy and Planning (MEP) in collaboration with the Ministry of Energy; Ministry of Environment, Water and Agriculture (MEWA); the Saudi Green Initiative (SGI); and the WAVE Initiative under FII, will spearhead this initiative which underscores a comprehensive approach to tackle environmental challenges. This collective effort with UpLink aims to stimulate investments and propel support for innovative solutions. Moreover, it reflects Saudi Arabia’s commitment to sustainable development at both national and international levels.
Climate-positive solutions
Commenting on the signing of the new agreements at the World Economic Forum Annual Meeting 2024, Alibrahim said, “Saudi Arabia is determined to meet this moment of deepening climate and sustainable development challenges with responsible environmental stewardship and driving transformative investments in breakthrough, innovative and scalable technological solutions.”
By expanding the collaboration with UpLink, Saudi Arabia is doubling down on its commitment to support climate-positive solutions. Moreover, it is unlocking inclusive economic growth opportunities that fall in line with its commitment to sustainable development.
For his part, John Dutton, head of UpLink, highlighted the urgency of addressing the climate emergency. He emphasized the crucial role of early-stage entrepreneurs in realizing the Sustainable Development Goals. “UpLink, in partnership with global collaborators, is developing a supportive ecosystem for these entrepreneurs, providing vital resources, exposure, expertise, and funding,” Dutton stated.
Read: Promoting innovation and sustainability: Saudi Energy Ministry joins forces with NEOM
Strengthening a successful partnership
Building on 2022’s MEP-UpLink partnership, this new agreement further advances initiatives like the ‘Food Ecosystems in Arid Climate Challenge’ and the ‘Smarter Climate Farmers Challenge’. These challenges attracted over 430 submissions where 22 won for their innovative and impactful solutions. Moreover, winners received funding, global exposure, and access to WEF and partner events.
The collaboration between Saudi Arabia and UpLink signifies a significant step towards fostering sustainable development and addressing environmental challenges on a global scale. The agreements signal a commitment to leveraging innovation for positive change and building a resilient and inclusive future.
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