‘The planet is cooking, we need to take action,’ business leaders urge

Industry leaders say reaching net zero is a ‘good business investment’

Industry leaders say reaching net zero is a good business investment (PA Wire)

Companies must act now to reach net zero, business leaders have warned, as the planet continues to warm.

Leaders from various industries spoke at Cop27’s Saudi Green Initiative where they emphasised the importance of implementing sustainable measures, not just to address the issues of climate change, but also to meet the needs of consumers who increasingly want products and services that consider climate issues.

Speaking on the panel, Julie Shuttleworth, global growth lead of Australian mining giant Fortescue, said the firm was implementing various changes to reduce its fossil fuel use and show the world that the heavy industry can decarbonise.

Among the system changes to reach net zero by 2030, is a train that can run on ammonia and a reduction of 80 million litres of diesel from the company’s usage.

Costing $6.2 billion (£5.2 billion) and saving the firm more than $800 million (£675 million) a year, Ms Shuttleworth said the push for net zero is a “good business investment.”

“The planet is cooking and we need to take action - we want to show that heavy industry can decarbonise and decarbonise quickly,” Ms Shuttleworth said.

Consumer demand for sustainable products is increasing (Screengrab)

Also on the panel was Google’s president of the Middle East and North Africa (MENA), Anthony Nakache. He said that searches of sustainable products in their search engine have soared by five times over the last five years.

He added that while meeting business leaders in the region and discussing sustainability, he also saw there is a clear consumer demand for sustainable products.

“We started this journey in 2007. We became one of the first companies to be carbon neutral but this was just the start of a journey,” Mr Nakache said.

“We are committed to becoming net zero by 2030.”

Among its plans to reach net zero, Google has piloted a new feature in its map application that allows drivers to not only find the quickest route, but the most fuel efficient.

“We’ve tested it in the US and Canada and it represented 100,000 cars taken off the road since in use,” he said.

“We want to know how to make it easier for people to make sustainable decisions.”

Ziyad Alshiha, CEO of Saudi recycling firm SIRC also highlighted how the company is pushing energy efficiency through recycling with a vision to reach 94 per cent landfill diversion in the country by 2035.

He said although Saudi Arabia has struggled with recycling, the nation has addressed the issue and is now making bold strides to provide a solution.

One of the individuals spearheading energy efficiency acceleration in Saudi Arabia is Mohammed AlTayyar, program director of Oil Sustainability.

He said: “There is a lot of innovation to transition away from hydrocarbons but what are we doing today to address challenges of the status quo and optimise the existing technologies that are going to be part of the energy transition?”

Mr AlTayyar said, working with the government and key stakeholders in the energy and heavy industry, his project identifies different areas where energy inefficiency can be reduced.

Find out more about the MGI summit and SGI forum here: greeninitiatives.gov.sa