Legal and corporate governance frameworks supporting the sustainable energy transition: A review article and implications for sustainable development in the Saudi context

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Original abstract

This study reviews how legal and corporate governance frameworks support Saudi Arabia’s transition to a sustainable energy system under Vision 2030. Saudi Arabia is shifting from a hydrocarbon-based economy toward a diversified, low-carbon model, driven by initiatives such as the National Renewable Energy Program (NREP), circular carbon economy (CCE), and the Saudi and Middle East green initiatives (MGI). This study synthesizes academic and policy literature to assess how regulatory structures, institutional development, and governance practices influence renewable energy adoption, energy efficiency, and climate action. Despite notable progress, such as the expansion of solar and wind capacity, energy market reforms, and emerging green hydrogen projects, several challenges remain. These include centralized decision-making, fragmented institutional coordination, and limited legal enforceability of climate targets. The review highlights the growing role of corporate governance, particularly as firms respond to environmental, social, and governance (ESG) requirements, while noting gaps in oversight of state-owned enterprises (SOEs). Drawing on international best practices, the study emphasizes the need for enforceable legal commitments, stronger institutional accountability, and transparent reporting systems. This study concludes that Saudi Arabia’s net-zero ambitions depend not only on technological and financial capabilities but also on robust governance frameworks, offering insights for other hydrocarbon-dependent economies pursuing decarbonization.

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