The billionaire chairman of India\u2019s Reliance Industries Mukesh Ambani said Thursday that Saudi Arabia and its G20 summit are putting sustainability and green initiatives on the global agenda.\r\nAmbani was speaking\u00a0during a virtual conference\u00a0convened by Saudi Arabia\u2019s Future Investment Initiative Institute (FII-I). The conference set out to discuss what shape a recovery from the coronavirus pandemic will take, and how to put sustainability and green strategies at its heart.\r\n\r\n\r\n\r\n\r\nDuring a conversation regarding the energy industry\u2019s role in facilitating a green recovery from the virus, Ambani called on industry players to remember the carbon cycle \u2013 a series of processes where carbon is converted through the environment.\r\n\u201cNow it is time to use technology \u2026 to reset that balance and adopt the carbon cycle. It\u2019s not only imperative for us to be net carbon zero but I think we have to recycle carbon. I believe that Mother Nature is the best technology that no human kind can every do and she teaches us how to recycle,\u201d he said.\r\n\u201cIn the last 150 years we have forgotten the carbon cycle \u2026 I think Saudi Arabia and the G20 summit is putting this on the global agenda,\u201d Ambani explained.\r\n\r\nRenewable energy is essential\r\nThe coronavirus pandemic is causing the greatest recession the world has seen in\u00a0nearly a century, with the full extent damage caused by the pandemic likely not realized \u2013 although experts broadly agree that the worst has passed.\r\nIn line with the economic slowdown, energy use as plummeted. The recovery from the coronavirus provides an opportunity to put green and sustainability strategies in place, Yassir al-Rumayyan governor of Saudi Arabia's Public Investment Fund (PIF) and chairman of Saudi Aramco\u00a0said earlier in the conference.\r\n\u201cWe have to adopt technologies, and for us in the energy business it is not so much about decarbonization but it is really about really completing this cycle,\u201d Ambani added.\r\n\u201cEnergy is an essential requirement for all of the eight billion people on this earth, and there is a need to provide efficient new affordable energy and we have to do it in a responsible way,\u201d he concluded.\r\nEarlier, Ambani\u2019s fellow panelist, Saudi Arabia\u2019s Energy Minister Prince Abdulaziz, revealed that the Kingdom would be\u00a0unveiling a new solar project\u00a0that will produce energy at the lowest cost yet.\r\n\u201cWe are putting our money where our mouth is, we will be very soon announcing a project on solar that will take the lead in terms of probably the lowest, if not the lowest, cost per kilowatt of electricity. We will be announcing it very soon,\u201d he said.\r\nThe conference, brought together under the theme \u201cDon\u2019t Forget Our Planet!,\u201d coveres topics including what lessons have been learned to protect nature, sustainable energy solutions for the private and public sectors, and how to view ecology through the lens of profitability.\r\nThe conference is being held Thursday between 6 p.m. to 10 p.m. Riyadh time. Al Arabiya English is\u00a0streaming the conference on YouTube\u00a0and Twitter.\r\nIn October 2019, more than 6,000 executives and participants\u00a0attended the third Future Investment Initiative\u00a0in Saudi Arabia\u2019s capital, Riyadh.