Crown Prince Mohammed bin Salman made the announcement in brief scripted remarks at the start of the kingdom s first Saudi Green Initiative Forum.
The Kingdom of Saudi Arabia aims to reach zero-net emissions by 2060 under its circular carbon economy programme while maintaining the kingdom s leading role in strengthening security and stability of global oil markets, Prince Mohammed said.
It comes a little over a week before the start of the global Cop 26 conference in Glasgow, which will draw heads of state from across the world to try to tackle global warming and its challenges.
The kingdom s oil and gas exports form the backbone of its economy, despite efforts to diversify away from its dependence on fossil fuels for revenue. It has resisted efforts to curb its investments in oil.
The country will aim to reduce its own emissions, but it will continue to pump and export fossil fuels to Asia and other regions.
Speaking at the event in Riyadh on Saturday, Prince Charles welcomed the target but said there was a dangerously narrow window to accelerate action.
Citing experts, he said the UN climate change conference must have clear contributions NDCs with national baselines in place.
The prince said the Saudi Green Initiative and a wider Middle East Green Initiative, which Riyadh will host on Monday, would help to accelerate the progress already made.
In a pre-recorded message, Charles said: I am most touched to have been asked to address this event which inaugurates the Saudi Green Initiative and roadmap, and takes place with encouraging timing, only days before the G20 in Glasgow and Cop 26 in Rome.
Cop 26 is said to be the largest gathering of international leaders ever hosted by the United Kingdom. This reflects the fact that, at last and after far too long, climate change and biodiversity loss are clear global challenges of paramount importance to the world.
At the same time, the ongoing pandemic has highlighted that human health, planetary health and economic health are fundamentally interconnected.
We now have a dangerously narrow window of opportunity in which to accelerate a sustainable recovery, while laying the foundations for a green future.