Saudi Arabia on Wednesday launched an initiative to protect and preserve the Red Sea, a biodiverse region that is home to the world's fourth-largest barrier reef system.
The National Red Sea Sustainability Strategy was unveiled by Saudi Crown Prince Mohammed bin Salman, and aims to set out a framework that explains how to preserve and regenerate the area – and at the same time support the local economy.
“Through this strategy, the Kingdom positions the blue economy as a fundamental pillar of its diversified economy and aspires for the Red Sea region to become a global reference for leading blue economy activities," Prince Mohammed said.
The strategy aims to increase the coverage of marine and coastal protected areas from 3 per cent to 30 per cent by 2030, as well as support the contributions of renewable energy to 50 per cent of the energy mix.
Beyond conservation, the sustainability-driven programme will look to expand socioeconomic factors, as well as security and governance. This includes close to 50 initiatives developed to pursue Saudi's blue economy ambitions.
Investment opportunities in areas such as eco-tourism, fisheries, water desalination and shipping are expected to open up as a result of the initiative.
The announcement comes as efforts are under way to contain environmental damage following the sinking of a cargo ship in the Red Sea on Monday.