JEDDAH — Saudi Arabia and Japan have decided to establish the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation. Crown Prince and Prime Minister Mohammed bin Salman and Prime Minister of Japan Kishida Fumio decided to establish the Initiative after holding extensive talks and a bilateral meeting in Jeddah on Sunday. The initiative will serve as a beacon for other countries and regions as they develop their strategies and roadmaps toward their net zero ambitions, a joint statement read. Saudi Arabia has a strong ambition to decarbonize and reach net zero emissions by 2060, and benefit from its globally low cost of renewable and clean hydrogen as well as the country's strategic location on trade routes for energy products across the world. Japan too has strong decarbonization ambitions as it aims to achieve net zero by 2050. Tokyo is a global pioneer in clean energy technology solutions. The Lighthouse Initiative aims at showcasing Saudi Arabia and Japan's leadership in clean energy projects and sustainable advanced materials, as well ensuring the resiliency of the supply chain to ensure sustainable and secure supplies. The initiative will support the ongoing efforts that Saudi Arabia is undertaking to become a hub for clean energy, mineral resources and energy components supply chains. The initiative encompasses several sustainable materials. The efforts will facilitate the participation of leading companies from Saudi Arabia and Japan, and expand on their ongoing collaboration, which will yield the production of multiple components in the energy supply chain that will enable the development of the Lighthouse projects, such as components for renewable energy. The partnership will develop Lighthouse projects that guide clean energy transition, focusing on areas such as hydrogen and ammonia, e-fuel, Circular Carbon Economy/Carbon Recycling, Direct Air Capture, critical minerals required for the energy sector and supply chain resilience, sustainable advanced materials, and research and knowledge exchange. In order to empower the Lighthouse Initiative, both countries affirmed their collaboration in clean energies and mineral resources supply chains by combining the advantages, ambitions and leading companies and institutions in both countries to contribute to expanding the market for clean energy to lower the cost and making supply chains more resilient. Going forward, both sides will facilitate the joint development of the work plan of the initiative, identify a detailed list of additional participants, and reach out to global and regional partners to join the initiative.
