Energy Productivity as a Strategy for Transitioning Towards a Prosperous Economy within the Framework of Saudi Vision 2030 and the Requirements of the Sustainable Development Goals
Year: 2025
Type: article
Abstract: The availability of energy services is a crucial factor in achieving sustainable development, as energy supply constitutes a fundamental driver of production, stability, and growth in the economic sphere. This, in turn, generates job opportunities and improves living standards. In contrast, the absence or inadequacy of modern energy services is linked to numerous poverty indicators. Since access to energy is a necessity for all, it is essential to focus on ensuring universal access, improving energy efficiency, and promoting the use of renewable energy. The latter is considered one of the most important alternatives for achieving sustainable economic development by creating new jobs and economic opportunities. As a founding member of the United Nations, the Kingdom of Saudi Arabia has played an active role in shaping the outcomes of the Sustainable Development Goals (SDGs). The Kingdom has reaffirmed its full commitment to achieving the SDGs at the national level and has taken effective steps to implement the 2030 Agenda. Managing the relationship between energy consumption and economic growth will be vital for sustainable development, with energy productivity serving as an indicator for policymakers to determine where and how to maximize the value of energy use. Saudi Vision 2030 has set clear objectives aligned with its overarching aim of transitioning towards a less oil-dependent economy by accelerating the growth of the non-oil private sector. However, low energy prices and strong growth in the production of relatively low–value-added and energy-intensive goods make improving energy productivity a major challenge in Saudi Arabia. This necessitates enhancing energy efficiency as a pathway to reduce the financial and economic risks associated with the current oil-based growth model. Consequently, Saudi Arabia has developed a comprehensive energy efficiency program covering all major energy-consuming sectors. The main research question can thus be formulated as follows: To what extent can energy productivity contribute to achieving Saudi Vision 2030 and the Sustainable Development Goals?
Author: BOUCHOUL BELAL
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W7083461381
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