The UK/Saudi Renewable Energy Forum hosted by the Saudi British Joint Business Council (SBJBC) will bring together senior representatives from the UK and Saudi governments.

The Forum with private sector organisations will discuss a variety of implemented initiatives and specific projects between the countries.

A part of the focus of the Forum will be to outline funding options available to support the transition to low-carbon economies and net-zero emissions.

The London event, scheduled for June 28, will focus on investment and partnership opportunities in renewable energy and cleantech, including hydrogen, and the finance available; and build on the success of the SBJBC’s Sustainable Investment Forum in July of 2021.

The Forum will highlight the importance of growing collaboration between the two Kingdoms in the light of COP26 in Glasgow in October 2021 with the spotlight on the increasing cooperation between the two countries in green technology and clean energy development

The UK’s plans to set its COP26 goals into law to reduce emissions by 78 per cent by 2035 compared to its 1990 levels. In Saudi Arabia’s Green Initiative, similar commitments to preserve the environment are a key pillar of the Saudi Vision 2030 based on a dedicated focus and involvement from both governments and the private sector.

The Cleantech sector attracted over $48 billion worth of investment globally in 2021, with the UK investing an overall $13.3 billion in clean technologies, the majority of which was in electricity systems.

This dramatic increase of investment has sparked the creation of net-zero clusters throughout the UK, including Teeside, where event partners Alfanar are investing £1 billion into the production of sustainable aviation fuels.

This investment, which will generate over 700 jobs in Teeside, is a prime example of how a collaborative approach to tackling the climate crisis can benefit both the environment and economy.

Saudi British Bank (SABB), Alfanar, London Stock Exchange Group and Ashurst are sponsoring and participating in the upcoming forum alongside representatives from supporting partners at the Department for International Trade, Federation of Saudi Chambers and The City of London Corporation.

A key focus of the event will be green finance. Event partners SABB acted as one of the mandated lead arrangers on the SR14-billion financing raised to fund the Red Sea project, and its affiliate HSBC served as a green loan coordinator on the transaction.

Both HSBC and SABB are committed to supporting clients transition to a low-carbon, sustainable economy. SABB also supported the $1.33-billion finance facility for the Red Sea Utilities Company’s 100 per cent renewable energy project.

Speakers currently confirmed for the forum include Lord Gerry Grimstone, UK Minister for Investment, HRH Prince Khaled bin Bandar Al Saud, Saudi Ambassador to the UK, Alderman Sir Charles Bowman, former Lord Mayor of the City of London, Tony Cripps, CEO, SABB, Julia Hoggett, CEO, London Stock Exchange, David Charlier, Co-Head of Ashurst's International Projects Group, Peter Terium, CEO of ENOWA and Head of Energy, Water and Food, Neom, Alderman Sheriff Alison Gowman, Non-Executive Director, Green Finance Institute, and Mishal Al Mutlaq, Investment Director, Alfanar Group.

To register for the forum, visit www.sbjbc-investment-forum.org or contact events@sbjbc.org for further details.

*The SBJBC is an independent and private sector-led body, which aims to develop and enhance business relations between Saudi Arabia and the UK.