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G20 Voices on the Future of the Space Economy Space20 Space Economy Leaders Meeting 7 October 2020, Saudi Arabia

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G20 Voices on the Future of the Space Economy Space20 Space Economy Leaders Meeting 7 October 2020, Saudi Arabia G20 Voices on the Future of the Space Economy Space20 Space Economy Leaders Meeting 7 October 2020, Saudi Arabia KPMG.com 2 G20 Voices on the Future of the Space Economy Contents 3 Space20 5 Foreword 7 Key themes from the Space20 meeting 10 G20 heads of space agencies summary 23 Recommendations 24 Contacts ©2020 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. 3 G20 Voices on the Future of the Space Economy Space20 The G20 Secretariat realized how space can be part of developing new frontiers and maintaining a peaceful environment on earth and understands the role of new space activities in the broader economy. Therefore, for the first time in G20 history, space has been selected as one of the 22 priorities of the G20 2020 agenda, titled “Promoting Space Cooperation” under the goal “Shaping New Frontiers.” ©2020 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. 4 G20 Voices on the Future of the Space Economy The first Space Economy Leaders Meeting – Space20 was held virtually on 7 October 2020. It was a high-profile meeting, organized by the Saudi Space Commission (SSC) and the G20 Saudi Secretariat as part of the International Conferences Program. The meeting was initiated to increase awareness of the space economy, shape new frontiers in the global economy, and to contribute to the international efforts on the peaceful uses of space while maximizing its economic benefit. The meeting brought together the heads of space agencies from the G20 countries as the leaders of the space economy ecosystem. The main agenda item of the Space20 meeting focused on exploring the views of the space agency heads The gathering was opened by the Chairman of the on the role of the space economy in shaping new SSC, His Royal Highness Prince Saltan bin Salman al frontiers in the global economy. KPMG was selected to Saud. Aside from the G20 countries, also the United manage this agenda item and produce this report that Nations Office for Outer Space Affairs (UNOOSA) summarizes and presents the discussion, G20 Voices and the Organization for Economic Co-operation and on the Future of the Space Economy. Development (OECD) took part in the agenda and presented papers focused on leveraging space data to It is expected that the G20 countries will continue to counter pandemics and on measuring the economic host the Space20 meeting as part of the ongoing G20 impact of the space industry. agendas in the coming years. ©2020 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. 5 G20 Voices on the Future of the Space Economy Foreword We are very happy and honoured to host the G20 meetings for 2020, and for the first time have a focus on the Space Economy. King Salman and Saudi Arabia are not new to the space industry, though we are keen to make it a part of the agenda of the G20 meetings going forward. I was honoured to participate in Saudi Arabia’s first His Royal Highness space mission in 1985 on the space Shuttle Discovery Sultan bin Salman Al Saud from the United States. The first phone call was made by King Fahd and King Salman, who is also my father, to me in the space shuttle. In that regard, you can say that although Saudi Arabia has the new Saudi Space Commission, established in 2018, we are not new to the space sector. Even before 1985, Saudi Arabia was a major investor in space and space technology through ArabSat and in 1985 we called for the establishment of a space program in Saudi. Since then we have made it our goal to make our own satellites and participate in international space missions. We are seeing today our region moving forward in the space economy, with examples including our neighbor, the Emirates, recently launching their very first space mission to Mars, and launching their Astronaut Hazza Al Mansouri to the International Space Station. ©2020 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. 6 G20 Voices on the Future of the Space Economy When I went on my mission in 1985, we had 30 Saudi When I reflect on that, for the first day or two we scientists who participated in space experiments and were pointing to our countries, by the third day since then we have heavily invested in building great we were pointing to our continents, but truly by universities, technological institutions and developing the fifth day we were pointing to one Earth and human capital. Today the innovation and technological one planet. This fragile small planet is our home advancement we see in Saudi and the thousands of today and will be our home for a long time to engineers, doctors and scientists of all specialties is an come. The G20 economies are looked at by the investment which has taken many decades to be where rest of the world as countries that could lead the we stand today. world to saving this planet not just in terms of the environment but resources through human I personally want to thank all of the heads of space interaction, settling human disputes and basically agencies for participating in the Space 20 meeting. We looking at Earth as a place that we all can come welcomed of course Italy and India, beautiful countries together and live together, in economic success that we look forward to going to for the next G20 and a clean environment. meetings and we call on them to make space part of the standing agenda for the next G20 meetings. In that regard we would very much like to see space over the next few days, few months, We believe that we know how to build economic few years to become part and parcel with the sectors in Saudi Arabia, and we’ve got to apply that economy and to represent our region. We want to knowledge to the space economy. We’re going to be work very closely with our allies and colleagues investing a lot, as your countries are in our relationships of different countries to make sure that we are with G20 countries, we call for the G20 countries to fully represented and participating. The team that invest in the future of this planet and not just the future met as part of the Space20 meeting is a great of the economies of G20 nations. In that sense, when asset and have raised the important issues and reflecting on the space station and my time in space with recommendations in this report. my colleagues from the United States and France, we all looked at Earth as we passed over it once every 90 As part of the G20 meetings, Saudi Arabia minutes and saw 16 sunsets and 16 sunrises every day. have announced our strategic plan for space development and will be launching a space investment company as we go forward. This follows the launch of our major program for generations to come for Saudi Scientists from the ages of four onwards. ©2020 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. 7 G20 Voices on the Future of the Space Economy 1. International collaboration and knowledge sharing are fundamental Key to space advancement – International cooperation is widely considered as an imperative across the G20 community, and must continue to be a priority as the space sector continues themes to grow exponentially. – As competition in the space economy increases, collaboration needs to be at the forefront of change in order to provide the depth of space knowledge and intelligence in a secure, safe and cooperative manner. from the – The sharing of information across countries on space activity will ensure effective investment in resources and capabilities, fostering sustainable Space20 growth in the sector. 2. Space is an enabler of green economies and achieving our Sustainable Development Goals on Earth – Many participants identified the socioeconomic meeting benefit that is enabled by the Space sector, particularly in environmental sustainability, and in monitoring and achieving the UN’s Sustainable Development Goals. – Advances in satellite technology are projected to provide an even broader range of data in the future, enabling us to draw insights that will enhance our understanding of the science of earth and support efforts to mitigate the effects of climate change. 3. We need to protect the space domain to ensure longevity of our presence there – The sustainability of the space domain itself was consistently identified as a strategic priority among the Space20 community, noting its importance as an enabler for continued growth a success of the space economy into the future. – There has been a rapid increase in the number of spacecrafts in Earth’s orbit over a short period and a record number of countries investing in space applications and research. When combined with the increasing volume of space debris, this poses a significant challenge for the safe and sustainable use of space. – The sustainability of space also generates economic benefits within the space economy, as ensuring the safety and long-term viability of space infrastructure improves ROI within the space sector, and increases investor confidence in the industry. ©2020 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients.
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