RIYADH: The Riyadh Economic Forum discussed the study of environmental problems and their impact on development in its latest symposium.
In its series of virtual seminars the symposium was moderated by Dr. Khalid Al-Ruwais, board member of the forum’s trustees, with the participation of Dr. Sattam Al-Mojil, a faculty member at King Saud University; Dr. Nourah Al-Yousef, chair of the Saudi Economic Association; and the geological adviser Mubarak Salameh.
The participants emphasized the implementation of regulations and laws related to the preservation of the environment in the Kingdom.
Al-Mojil told Arab News: “Financial incentives and facilities can be offered to help achieve this goal such as customs facilities and loans, reduction of government subsidy for sectors that harm the environment and imposition of penalties and fines on noncompliant factories and plants.”
He stressed the need for raising public awareness about environmental issues.
One of the initiatives presented by Al-Mojil calls “calls for analyzing and studying the environmental and economic impact of future projects and subject them to environmental assessment.”
In his presentation, he called for encouraging the private sector to invest in renewable energy and to ensure the safe disposal of hazardous waste.
Al-Mojil also called for conducting more research on the impact of economic development on the environment and encouraging universities and research centers to dedicate more attention to economic and environmental studies, especially the ones focusing on the reciprocal impact between economic development issues and environmental problems.
