In the context of the World Economic Forum Annual Meeting 2024, held in Davos, Switzerland, Saudi Arabia has made significant strides in its ongoing collaboration with the World Economic Forum’s UpLink innovation platform. The partnership is poised to accelerate the development of innovative solutions to critical global environmental and sustainability issues.
His Excellency Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning, alongside Børge Brende, President of the World Economic Forum, have formalized two new agreements. These are centered on initiatives titled ‘Catalyzing Innovation for an Ocean Positive Economy’ and ‘Catalyzing Innovation for a Positive Circular Carbon Economy (CCE).’
The collaboration aims to create robust ecosystems to support early-stage entrepreneurs, fostering investment and backing for groundbreaking solutions that tackle significant challenges like ocean degradation, biodiversity loss, and circular carbon economies.
The Ministry of Economy and Planning (MEP) of Saudi Arabia, in partnership with the Ministry of Energy, Ministry of Environment, Water and Agriculture (MEWA), the Saudi Green Initiative (SGI), and the WAVE Initiative under the Future Investment Initiative (FII), spearheads this initiative.
His Excellency Alibrahim emphasized Saudi Arabia’s commitment to addressing climate and sustainable development challenges through proactive environmental stewardship and transformative investments in innovative technological solutions. This endeavor aligns with the Kingdom’s national and international sustainable development goals.
John Dutton, Head of UpLink, underscored the urgency of the climate crisis and the need for swift, collective action. UpLink’s role is to nurture an ecosystem that provides resources, expertise, and funding to help entrepreneurs achieve the Sustainable Development Goals. This strengthened partnership with Saudi Arabia exemplifies the power of innovation and cooperation.
Building on the MEP-UpLink partnership established in 2022, this enhanced agreement expands the scope of previous initiatives such as the ‘Food Ecosystems in Arid Climate Challenge’ and the ‘Smarter Climate Farmers Challenge.’ These initiatives gathered over 430 submissions, resulting in 22 winners who were lauded for their innovative contributions and were subsequently awarded funding, global recognition, and access to WEF and affiliated events.
Contact Information:
Wooud Alquaied
Email: walquaied@mep.gov.sa