Mohammed Aljadaan, Saudi Arabia’s finance minister, has emphasised that having access to dependable energy is a necessity for equitable growth and sustainable development rather than a luxury. Aljadaan, who spoke at the OPEC Fund for International Development Forum in Vienna, emphasised how advancements in key areas such as healthcare, education, food security, water extraction, and environmental sustainability are still hindered by the lack of reliable energy access.
During his speech, Aljadaan commended the OPEC Fund for organising the forum, which he said plays a crucial role in spotlighting the importance of economic reforms in enhancing national resilience, tackling financial challenges, and driving forward long-term development goals.
He emphasised that for reforms to be effective in delivering prosperity, they must begin with securing basic human needs, foremost among them, energy access. With an estimated 1.2 billion people globally still affected by energy poverty, Aljadaan warned that the consequences extend far beyond national borders, contributing to global economic instability, increased migration, and rising humanitarian pressures.
Aljadaan reaffirmed Saudi Arabia’s commitment to working closely with the international community to bolster global energy security and eradicate energy poverty while also advancing climate action. He pointed to the Kingdom’s ambitious energy transition targets, including generating 50% of electricity from renewable sources by 2030 and achieving net-zero emissions by 2060, in line with its circular carbon economy framework.
The forum concluded with a strong call for deeper global cooperation to close the energy access gap and accelerate inclusive, climate-resilient growth.
