Major oil producer Saudi Arabia announces net-zero by 2060

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One of the world's largest oil producers, Saudi Arabia announced Saturday it aims to reach “net zero” greenhouse gas emissions by 2060, joining more than 100 countries in a global effort to try and curb man-made climate change.

The announcement was made by Crown Prince Mohammed bin Salman in brief scripted remarks at the start of the kingdom's first-ever Saudi Green Initiative Forum. The kingdom made the announcement a little over a week before the global COP26 climate conference starts in Glasgow, Scotland that will draw heads of state from across the world to try and 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 reliance on fossil fuels for revenue. It has resisted efforts to curb its investments in oil.

Although the kingdom will aim to reduce its own emissions, it will continue to aggressively pump and export fossil fuels to Asia and other regions.