RIYADH — Princess Reema Bint Bandar, Saudi Ambassador to the United States and a member of the Board of Trustees of the FII Institute, unveiled the ambitious WAVE initiative during the 7th edition of the Future Investment Initiative conference in Riyadh. The announcement took place in the presence of Minister of Energy Prince Abdulaziz Bin Salman highlighting the commitment of both the energy sector and the institute to environmental solutions. The WAVE Initiative, a collaboration between the FII Institute and the Ministry of Energy, aims to spearhead coordinated efforts for ocean regeneration, addressing environmental and ecological imbalances. The launch underscores the Kingdom's dedication to supporting international endeavors in ocean sustainability, recognizing its pivotal role in maintaining environmental equilibrium and its profound impact on the global economy. Prince Abdulaziz emphasized the partnership's commitment to environmental solutions and the energy sector's dedication to implementing the highest global standards in addressing climate change challenges. Princess Reema stated: "Oceans and seas play a crucial role in the lives, health, and well-being of humanity, directly impacting the overall health, well-being, and economy of the world. This initiative seeks to build connections and harmony among various international efforts, aiming to achieve its ambitious and yet attainable goal of environmentally regenerating the oceans within one generation." Aligned with the United Nations Sustainable Development Goals and Saudi Vision 2030 initiatives, WAVE aspires to become a global initiative connecting stakeholders worldwide. Princess Reema emphasized the need for global awareness to strike a balance between the developmental needs of various countries and ocean sustainability. The initiative was launched with the support of the FII Institute and the energy ecosystem. Princess Reema welcomed partnerships with various Saudi and international entities, emphasizing the importance of radical collaboration across industries. The announcement was followed by the signing of 22 partnerships, with anchor partners including the Ministry of Economy and Planning, Saudi Aramco, SABIC, MA'ADEN, NEOM, and Red Sea Global. Strategic partners include the King Abdulaziz City for Science and Technology, Environment Fund, King Abdullah University for Science and Technology, the Alliance to End Plastic Waste, and OceanX, among others. Richard Attias, CEO of FII Institute, stressed the urgency of addressing threats to the oceans and highlighted the potential of embracing a harmonious blue economy. The WAVE initiative will be guided by a council including Prince Sultan Bin Fahd Bin Salman, professor Carlos Duarte, and Alexandra Cousteau, focusing on five pillars: Insights, Engagement, Innovation, Thought Leadership, and Resources. WAVE aims to achieve its objectives through programs that include building a global digital information hub, launching awareness campaigns, driving technological efforts and startup support, fostering global connections, and facilitating access to resources. The initiative represents a significant step towards a sustainable and balanced future for our oceans.
