Released the first week of every new quarter, the BCCC Quarterly is a magazine-style newsletter that records the most important trends and developments regarding blue carbon and climate change policies and regulations in China, the U.S., and other regions, as well as international regimes such as the United Nations. It also includes two special sections — the ‘Theme of the Quarter’ and the ‘Blue Carbon Country Profile’ — that aim to bring a fresh element to each issue.
Despite how slowly the climate change and blue carbon field evolves, both in the private and public sectors, there will inevitably be an identifiable trend of interest across a three month period. Thus, every quarter the ICAS Team will identify and summarize a major trend or long-term topic of interest relevant to the most recent quarter.
In addition to collections of relevant news summaries, government actions and statements, and scientific research activities, the theme includes an analytical commentary from our researchers on how this theme relates to other present-day developments, policy interests, climate change and environment concerns, and implications for the blue carbon field.
The fourth quarter of 2024 featured two major international climate conferences: the 2024 United Nations Climate Change Conference (COP29), and the 2024 United Nations Biodiversity Conference (CBD COP16). During each of these conferences, delegates from nearly 200 countries convened with the shared goals of combating climate change and halting biodiversity loss. Both summits marked critical steps in addressing global environmental challenges, most notably resulting in agreements on scaling up climate finance, operationalizing carbon markets, and establishing mechanisms to support Indigenous Peoples and biodiversity conservation. However, significant challenges persisted, including inadequate funding commitments, political tensions, and insufficient progress on key issues like fossil fuel reductions and biodiversity financing. While this is growing global commitment to addressing climate together, significant divides between developed and developing countries remain.
This BCCC Quarterly’s Theme of the Quarter, Mixed Results in Climate Cooperation, aims to examine the latest news and announcements regarding the UNFCCC COP29 and CBD COP16 as well as the mixed reactions from countries with different objectives. This section will provide readers with insights into the current development status and the anticipated trajectory of these issues. The Theme of the Quarter section also aims to capture recent trends by including government statements and actions as well as third-party analyses regarding recent international climate cooperation. The section concludes with a commentary arguing that multinational development banks (MDBs) hold the future of climate finance. MDBs, with their designated mandate and objectives when investing and unique ability to mitigate risks, are well-positioned to fill this critical gap and ensure equitable support for the most vulnerable countries.
Given how ‘blue carbon’ is a relatively new subject to both scientists and policymakers, the ICAS Team wants to provide a collective view on how individual nations are recognizing, analyzing, and applying blue carbon at all levels of the government, through cross-border and international engagements, and in private sector and non-profit activities.
This profile is also intended to identify places that are in need of particular attention. It will conclude with issues that interested parties should pay attention to in the coming months and years, including areas that need improvement, potentials worth exploring as well as possibilities of bilateral and multilateral cooperation in both policymaking and scientific exploration.
The Kingdom of Saudi Arabia’s approach to blue carbon is ambitious and driven by strong governmental focus and exceptional private sector engagement. The Kingdom is successfully incorporating traditional blue carbon ecosystems into its national strategies under Vision 2030 and the Saudi Green Initiative (SGI), implementing large-scale restoration projects, coastal protection programs, and eco-park developments. Its private sector in particular, led by companies like Saudi Aramco and NetZero, plays a leading role globally in blue carbon initiatives. However, Saudi Arabia faces challenges such as a lack of robust NGO involvement and minimal international collaboration. Placing the future of blue carbon initiatives in the hands of ‘oil giants’ also introduces another element of uncertainty. Expanding partnerships and leveraging its wealth and research capabilities could help the Kingdom maximize blue carbon’s environmental and commercial potential, ensuring long-term contributions to global climate goals and sustainable development.
This quarter’s BCCC Blue Carbon Country Profile, on Saudi Arabia, aims to help readers better understand the current government actions, private efforts, and international cooperation on the research, protection, and development of the blue carbon ecosystems in the Kingdom. While demonstrating and acknowledging the progress that Saudi Arabia has made on blue carbon ecosystem protection over the years, the country profile also offers insights into future steps that Saudi Arabia could take to elevate its blue carbon initiatives to a higher, more impactful level both domestically and across borders.
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