A Saudi minister criticizes Western aid pledges

The Saudi Minister of Energy described on Monday the contributions of developed countries to the climate loss and damage compensation fund as "small change," highlighting the funds promised by Saudi Arabia to Africa.

The world's leading oil exporter, which has not joined this new UN initiative, will dedicate $50 billion to help African countries adapt to climate change, said Prince Abdulaziz bin Salman.

A major development at the global climate conference (COP28) in Dubai, the fund aimed at compensating for losses and damages in vulnerable countries has received promises of donations totaling around $655 million, including from the European Union and the United States, an amount widely considered insufficient by environmental advocates.

"Unlike the small change offered for losses and damages by our partners in developed countries, the kingdom, as part of its South-South cooperation, announced at the Saudi-African summit in Riyadh last month the allocation of up to $50 billion," said the Saudi prince in a video message during a forum organized by his country on the sidelines of COP28.

"This will help build resilient infrastructure and strengthen climate resilience and adaptation on the African continent," he added without specifying the nature of these funds.

Private funds are often criticized by activists for their lack of transparency, as these commitments are not binding and include loans and investments.

The comments of the Saudi official reflect tensions among negotiators from over 200 countries gathered in Dubai, United Arab Emirates, to try to reach a global climate agreement.

The battle over "reduction" or even "exit" goals for fossil fuels responsible for global warming is shaping up to be one of the toughest.

Saudi Arabia has developed its energy sources, invested in renewable energy, and improved energy efficiency to decarbonize its economy by 2030, according to Prince Abdulaziz.

However, the kingdom's goals do not account for emissions produced by the oil it exports, which constitute the majority of its carbon footprint.

"You cannot go to underdeveloped or developing countries and ask them to take the same (energy transition) measures," said Yasir Al-Rumayyan, the chairman of the giant oil company Aramco.

The head of the Saudi state-owned company claimed to have heard an African minister tell him that to support growth, one must "first carbonize and then decarbonize."

A report released on the eve of COP28 by the British television channel Channel 4 and the Center for Climate Reporting accused Riyadh of seeking to "artificially boost oil demand" through its investments in Africa and Asia.

Saudi authorities have not responded to these accusations.