Saudi Arabia seeks carefully to shift its oil reliance

(MENAFN) Saudi Arabia, the world's largest crude oil exporter is wisely planning to diversify its economy to help combat climate change, as the reports shows.

This critical move may significantly decrease carbon emissions by up to 130 million tons a year by 2030 over contributions to economic diversification.

This strategy was seriously taken into consideration as it clearly identified that its economy is threatened by a global shift from fossil fuels to renewable energies.

As a result, earnings will be routed into lower emission divisions, such as financial services, medical services, renewable energy and energy efficiency technology.