Saudi Arabia is committed to achieving its goal of "zero carbon emissions" by 2060.
According to the newspaper, Saudi Arabia is the largest exporter of crude oil and Riyadh said that it will join the global effort to reduce methane emissions by 30% by 2030.
According to the United Nations, more than 130 countries have set or are considering a goal to reduce greenhouse gas emissions to zero by 2050.
"I announce today that Saudi Arabia will achieve its zero carbon emissions target by 2060," Saudi Crown Prince Mohammed bin Salman told the Saudi Green Initiative.
The Saudi Crown Prince said he was pleased to see initiatives in the energy sector that would reduce carbon emissions by 278 million tonnes a year by 2030, far more than doubling the voluntarily announced target.
"We are announcing that we are part of a global effort to reduce methane gas," he added.
Saudi Arabia will play its part in reducing global methane emissions by 30% by 2030, a statement said.
Energy Minister Prince Abdul Aziz bin Salman said the 2060 target would enable us to make smooth and workable transitions without the risk of economic or social impact.
COP 26 President Alok Sharma has welcomed Saudi Arabia's announcement.
"I hope this historic announcement will boost COP26's already ongoing efforts and aspirations," he said on social networking site Twitter.
Later, Amin Nasir, Chief Executive of Saudi Aramco, said in the forum that Saudi Aramco will try to achieve the goal of zero carbon emissions from its operations by 2050.
"We understand that the situation has become complicated. The goal of zero carbon emissions will be challenging, but we are confident that we will achieve it," he said.
Saudi Arabia emits an estimated 600 million tons of carbon dioxide each year, the equivalent of France and Germany.
The year 2050 has become the center of attention in terms of zero carbon emissions, as the COP 26 Summit is approaching. Many countries have made commitments towards the goal of zero carbon emissions by 2050.
UN chief Antonio Guterres said the current climate situation was a "one-way street for disaster".
The gathering, held between October 31 and November 12, is seen as an important step in setting global emissions targets to slow global warming.
