One of the main goals of the Middle East Green initiative is to promote sustainable development and protect the environment.

The UAE is a Middle East country that is proactively developing its renewable energy sector as part of its energy transition strategy.

The Middle East is vulnerable to climate change, experiencing rising temperatures, water scarcity, and desertification.

The Gulf countries, including those in the Middle East, are expected to benefit from increased oil revenues due to rising energy prices caused by the Russian war in Ukraine.

The UAE, Egypt, Jordan, and Morocco are among the countries in the Middle East that are investing in solar and wind energy as part of their energy transition strategies.

Saudi Arabia launched the Middle East Green initiative, which aims to address climate change and its impact on the natural environment.

"Egypt is investing in solar energy through the Benban Solar Park, a $4 billion project with 1,800 megawatts of capacity, as part of its Renewable Energy Feed Tariff program."

The capacity of Benban Solar Park in Egypt is 1,800 megawatts.

Jordan has implemented the Investment Environment Law to encourage investment by granting incentives and exemptions to investors, supporting its new vision in the field of investment.

The UAE is investing in renewable energy, particularly solar energy, as part of its energy transition strategy.

"Saudi Arabia is investing in sustainable development projects, including education, health, and renewable energy, as part of its economic transformation and energy transition strategy."

The primary goal of investing in renewable energy in Arab Gulf countries is to accelerate the energy transition, driven by the region's unique capabilities in hydrogen and solar energy, and to reduce carbon intensity.

The United Arab Emirates aims to increase its share of clean energy to 50% by 2050 as part of its energy transition strategy.

One of the main goals of the Middle East Green initiative is to promote sustainable development and protect the environment.

Title:

Content: The Green Middle East Initiative.
Integration and Interaction
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The Kingdom has done well in launching the Green Middle East Initiative, and this is not the first and will not be the last, and it is no stranger to the Kingdom, it has launched many initiatives for peace, environment, dialogue of cultures, relief and reconstruction.
Based on the concerns of the Crown Prince, the godfather of the Kingdom ’ s Vision 2030, the environment and sustainable development, which was reflected in the giant NEOM project, the Green Riyadh Initiative, and Green Saudi Arabia, and the accompanying issuance of new legislation and the establishment of new bodies, in recognition of the importance of the environment to achieve sustainable development, and before that the survival of human health and safety.
A few days ago, Crown Prince Mohammed bin Salman bin Abdulaziz inaugurated the summit of the “Green Middle East Initiative ” in Riyadh, and it enjoyed an international interaction reflected in a wide international participation that includes heads of state and decision-makers in the world.
The Green Middle East Initiative summit aims to “draw a regional map to preserve and raise the quality of life ” to address the challenges of climate change and its impact on the natural environment, humans and animals.
The initiative included reducing carbon emissions by more than 10 per cent of international requirements and planting 50 billion trees, or about 10 trees per Arab citizen, contributing to the achievement of approximately 5 per cent of the global afforestation target.
He pointed out that the Kingdom believes that traditional energy sources were the most important reasons for the transformation of the countries of the region and the world from traditional economies to globally active economies, and the main engine and motivation for the fastest economic growth that humanity has ever known.
Today, we are ushering in a new green era for the region, leading it together, believing that the effects of climate change are not limited to the natural environment, but include the economy and security. ”
Thus, the Kingdom has contributed to the great global economic growth after the Second World War through the production of conventional energy, and today it is taking the initiative to reduce carbon and develop clean energy through the concept of circular economy, and the establishment of a regional center to monitor and study climate change.
The summit resulted in a new initiative to establish a regional storm early warning centre to help reduce health risks from dust waves.
In addition, the summit statement pointed out that the Kingdom will work to establish a regional center for the sustainable development of fisheries to contribute to raising marine biodiversity and reducing the level of emissions in the fish sector, and the establishment of a regional program for cloud seeding to contribute to raising the level of rainfall by about 20%.
The summit paid particular attention to the degradation of vegetation in Africa and called for the establishment of the Green Initiative Foundation as an independent non-profit.
All the countries of the Middle East region, especially the world in general, must join hands in order to protect our blue planet from environmental pollution and desertification and the resulting climate change, which has no consequences for the future of life on this planet.
Finally, it is wrong to believe that a positive change in the field of environmental conservation within the Green Middle East initiative costs a lot, and can only be launched with the availability of significant resources.
Indeed, much can be achieved with simple efforts and reasonable costs, especially if there is a strong will in each State.
For example, the creation of uniform and strict legislation to protect the environment does not cost much. Similarly, raising the level of environmental awareness does not cost much with the presence of will and management. Volunteering in the field of the environment in general and afforestation in particular is popular with many and willing to participate in increasing afforestation, especially with private sector enterprises in social responsibility efforts.
This will enhance the success of the Green Middle East Initiative, especially with the generous support of billions of riyals, of which the Kingdom will contribute significantly.
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The UAE is a Middle East country that is proactively developing its renewable energy sector as part of its energy transition strategy.

Title:

Content: Energy transition provides opportunity to transform, diversify economy: Sultan Al Jaber

Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change.

Globally, at least $3 trillion will be invested in renewable energy over the next ten years.

By WAM

Published: Tue 18 Jan 2022, 11:12 PM

Last updated: Tue 18 Jan 2022, 11:15 PM

The UAE sees the energy transition as an opportunity to transform and diversify the economic growth model of the country, according to Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change.

Speaking during a virtual panel session titled ‘Projecting COP Ambitions across COP27 and COP28 and Economic Diversification Priorities Post-pandemic’ at the Abu Dhabi Sustainability Week (ADSW), Dr. Al Jaber explained how the UAE and the Middle East and North Africa (Mena) region can take advantage of the drive to climate action.

Al Jaber was speaking alongside the Alok Sharma MP, President of COP26, and Sameh Shoukry, Minister of Foreign Affairs of Egypt and President-Designate of COP27, during the session moderated by Fred Kempe, President and CEO of the Atlantic Council.

Al Jaber said, “This region has specific advantages that can accelerate the energy transition from our position as energy leaders. Firstly, as long as the world continues to rely on oil and gas we can ensure reliable supplies of the least carbon intensive oil and gas available. We are leveraging this position to further drive down the carbon intensity through expansion of the first in the region carbon capture facility.

“We are also building on our unique capabilities in hydrogen to lay the foundation for a zero carbon hydrogen market. And, as you know, the UAE has been investing in the solar and broader renewable space for the last 15 years, and we are doubling down on this investment.”

Al Jaber pointed out that globally, at least $3 trillion will be invested in renewable energy over the next ten years. He said this represents a multi-trillion dollar opportunity that the UAE, the region and its international partners can capitalise on. “In fact, this is the thinking behind our Net Zero Strategic Initiative. Net zero, for us, is about new industries, new skills and new jobs. For us, the business of tackling climate change is simply good business.”

Dr Al Jaber cited the recent strategic partnership between Abu Dhabi National Energy Company PJSC (Taqa), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (Adnoc) which transformed Masdar into a global clean energy powerhouse.

He said the new Masdar has almost doubled its renewable energy capacity and the ambition is to build on this solid foundation to reach 100 gigawatts (GW). Al Jaber called for partners, in the public and private sectors, to join the UAE and Masdar in delivering these ambitious goals that will lead to new industries, new skills, new jobs and new opportunities.

Responding to a question on the outcome of COP26 (the 26th United Nations Climate Change Conference), Dr. Al Jaber noted it was a success as Glasgow united 90 per cent of the world’s economy on the path to net zero. “COP 26 also succeeded in launching many coalitions between governments and businesses to accelerate innovation. AIM for Climate, which the UAE launched with the US and 34 other countries is a good example. This is a growing coalition that directs investment to agri-tech to reduce agricultural emissions, which account for as much a third of global emissions. And critically COP26 finally reached a deal on Article 6 of the Paris Agreement, which lays the foundation for effective carbon markets. All of this creates great momentum and a great platform which Egypt and the UAE can, and will, build on.”

On COP28 which is set to take place in Abu Dhabi in 2023, Al Jaber highlighted that it will mark the first ever global stocktake that will show us how we are tracking towards the Paris goals and, critically, it will set the roadmap towards 2030 and beyond. He added that the UAE is already working closely with the UK and Egypt to continue the momentum of COP26 and went on to detail the UAE’s approach to COP28.

“We want Abu Dhabi to be where the world turn pledges into concrete results and help take commercially viable climate solutions to scale around the world. This is why we want COP 28 to be as inclusive as possible, reflecting the views of developed alongside developing countries, the public and private sectors and scientists and civil society.”

“Inclusive also means including the expertise that exists across the energy spectrum, and specifically the hydrocarbon industry, because if we want to successfully transition to the energy system of tomorrow, we cannot simply unplug from the energy system of today. We need to make the current system work more efficiently with less carbon. We should leverage expertise from across the energy sector to find the climate solutions we need,” said Al Jaber as he stressed the need to always remember that the goal is to hold back emissions, not progress. — Wam

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The Middle East is vulnerable to climate change, experiencing rising temperatures, water scarcity, and desertification.

Title:

Content: Israelis, Palestinians and Arabs “coming together ” to tackle climate change | Politics and economics | In-depth analysis with a broader perspective than DW | DW | 24.03.2023
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Israelis, Palestinians and Arabs ‘ coming together ’ to tackle climate change
The United States has launched a new initiative that brings together Israel and Arab countries to address climate change in the region, but the initiative faces the challenges of building trust between the parties as well as finding sources of funding for joint projects.
Agriculture could be a common area for addressing climate change among Middle Eastern countries
The Middle East and North Africa (MENA) region is one of the most vulnerable regions to the effects of climate change. The region ’ s countries have been hit hard by rising temperatures, water scarcity and desertification, with more serious consequences ahead.
Organisers of a regional conference on agriculture, water and food security said the issue of tackling the effects of climate change was pushing for more cooperation.
The conference, which brought together experts from Israel, the Palestinian territories and Arab and Muslim countries, aims to develop practical programs to address regional challenges.
William Wechsler, director of the N7 initiative, which organized the conference last week in Abu Dhabi, said that “a lot can be achieved in the region through collaboration. ”
The initiative promotes cooperation between Israel, Egypt, Jordan, Morocco, Bahrain, Sudan and the UAE within the framework of the Abraham Accords.
In this context, Wechsler said there are many areas for joint cooperation such as water, lowering food prices and providing security for the people of the region, adding that agriculture is an ideal basis for cooperation in the field of climate change.
Not only is agriculture the only area where progress can be made quickly, but it can also affect the people of the Middle East and North Africa, he said, warning that “if we miss the opportunity to address climate change right now, the window of opportunity will eventually close. ”
While there are challenges to strengthening cooperation between governments and the private sector, Wechsler believes that people who are actively engaged in tackling climate change and its implications are eager to collaborate.
In an interview with DW, he said that "scientists and engineers are considered scientific figures who are interested in ultimately solving problems regardless of affiliations."
Many people think the Middle East is far from the threat of climate change, but here ’ s the truth.
Financing joint ventures
Fawzi Bakkawi, director of Morocco ’ s National Institute of Agricultural Research, believes that his country could benefit from Israel in this area, adding: “There is Israeli experience in particular in the efficient use of water in irrigation systems and the development of more flexible and appropriate agricultural crops. ”
According to a report issued by the World Bank last year, Morocco is among the countries suffering from high water stress, with Morocco ’ s water resources among the weakest in the world, while this affects the agricultural sector, especially as the phenomenon of climate change worsens.
“Israel has made significant progress in biotechnology or genomics and all of these areas can be beneficial to Morocco as well, ” he said.
However, funds for joint Moroccan-Israeli projects or to promote academic exchange remain limited.
Bakawi said he applied to the Merck Foundation, which funds projects between Israel and U.S.-based Arab signatories to the Abraham Accords, for a grant.
Morocco and other countries could benefit from technological advances in irrigation in Israel
Yousef Wahbi, a researcher at the National Meteorological Center in Abu Dhabi, said during a podcast organized by the Middle East Institute that “most research departments in the region have limited avenues for funding research conducted by foreign organizations. ”
At the climate summit in Glasgow in 2021, rich countries pledged $40 billion a year by 2025, while the issues of financing joint projects between countries to combat climate change are more complex.
He explained that most forms of financing come in the form of loans to implement mitigation projects with climate change, such as reducing the use of fossil fuels by relying on solar and wind energy, which is profitable for the lending countries.
But Wehbi said funding for climate change adaptation projects was low, as "sources of funding are difficult to find and these projects are less attractive to funding countries than projects that generate profits for lending countries."
He called for enhanced cooperation in scientific research aimed at addressing climate change globally "for the exchange of ideas between the scientific community globally".
Egypt is seeking to address wheat shortages and inflation by growing crops that need less water.
Confronting climate change to reduce conflicts
Jamal al-Saghir, former World Bank director, said that cooperation between countries is the best solution, adding that "regional cooperation is in the interest of all and carries with it more benefits than national or bilateral projects."
In an interview with DW, Sagheer, who is also an expert on agriculture and climate change and a professor at Canada ’ s McGill University, said most countries in the Middle East “are not doing enough so far in the face of climate change despite the acceleration of this phenomenon. ”
A new climate study shows that the Middle East is warming twice as fast as the global average, with potentially devastating effects on its people and economies.
As a result, more than 400 million people in the region are at risk of extreme heatwaves, prolonged droughts and rising sea levels, the study said.
However, Sagheer believes that the region can overcome these issues through technology and believes that Israel and the Gulf states can take the lead, adding that “Israel is a leader in desalination and irrigation and the countries of the region will benefit greatly. ”
He pointed out that the UAE has invested heavily in the field of renewable energy, stressing that "joint cooperation will lead to the introduction of new ideas in the field of research and development, which can be implemented later in other countries."
He asked: “What are these countries waiting for?
We have to start now. ”
According to the study, the temperature in the Middle East is increasing at an average of 0.45 ° C per decade.
Building Confidence
Tarek Abu Hamad, executive director of the Wadi Araba Institute for Environmental Studies in Israel, believes cooperation among other scientists across the region to tackle climate change could pave the way for “confidence-building efforts. ”
"We live in a small region that is a hotspot when it comes to climate change, so we have no other choice but to cooperate with each other to deal with these challenges," he said.
Alex Pletsas, one of the researchers involved in the N7 initiative, noted that the conference is hopeful: “The great thing I saw in Abu Dhabi was sitting with an Arab diplomat from a Gulf country in a traditional Arab dress and an Israeli businesswoman late at night.
to see how to improve the lives of the people of the region. "
Jennifer Hollis / m.
p.

The Gulf countries, including those in the Middle East, are expected to benefit from increased oil revenues due to rising energy prices caused by the Russian war in Ukraine.

Title:

Content: How do the Gulf countries benefit from the huge revenues expected from oil sales?
- Financial Times
We begin our tour in the British newspapers of the Financial Times, which published a report on expected oil revenues for the Middle East countries of up to $1.3 trillion, according to the International Monetary Fund.
The report, signed by Middle East editor Andrew England, said: “Energy-rich Middle East countries are expected to reap as much as $1.3 trillion in additional oil revenues over the next four years, according to the International Monetary Fund, where they will receive windfall gains that will strengthen the position of sovereign wealth funds in the region. ”
The IMF ’ s forecast underscores how rising energy prices caused by the Russian war in Ukraine are strengthening monarchies in the Gulf, while much of the rest of the world is grappling with rising inflation and fears of recession.
Jihad Azour, the IMF ’ s director for the Middle East and North Africa, told the Financial Times that “compared to pre-war projections in Ukraine, oil and gas exporters in the region, especially the Gulf states, will see an additional $1.3 trillion in cumulative oil revenues through 2026. ”
The Gulf is home to some of the world ’ s largest oil and gas exporters and several of the largest and most active sovereign wealth funds.
These include the Saudi Public Investment Fund, the Qatar Investment Authority, the Abu Dhabi Investment Authority and the Kuwait Investment Authority.
The $620 billion Saudi Public Investment Fund, headed by Saudi Crown Prince Mohammed bin Salman, invested more than $7.5 billion in US equities in the second quarter, including in Amazon, PayPal and BlackRock, as it sought to take advantage of lower stock prices, according to market filings.
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The Middle East editor added that “Gulf sovereign wealth funds were similarly active during the pandemic as they were looking to take advantage of market volatility caused by the Coronavirus crisis.
During the global financial crisis of 2009, they exploited the turmoil to acquire stakes in distressed Western companies.
In recent years, many funds have focused on sectors such as technology, healthcare, life sciences and clean energy as governments seek to generate returns on investments, diversify economies and develop new industries.
Azour said it was important that Gulf states use the windfall gains for future investment, including preparations for a global energy transition.
"It's an important moment for them to...
Acceleration in sectors such as technology [domestically] because this is something that will allow them to increase productivity.
In addition, their investment strategy can benefit from the fact that asset prices have improved for new investors, and that the ability to increase their market share in certain areas is also an opportunity. ”
"But it is important that they maintain fiscal discipline and momentum on reforms designed to reduce their countries' dependence on oil."
“This boom comes after years of weak growth across the Gulf that has prompted governments to raise debt, tap their reserves and slow state projects, ” he said.
But Saudi Arabia, the world ’ s largest oil exporter and the region ’ s largest economy, is witnessing a massive spending spree led by the Public Investment Fund (PIF), which has been tasked with developing a range of mega-projects aimed at modernizing the kingdom while seeking investments abroad.
The PIF is expected to be one of the main beneficiaries of the oil boom as Saudi Arabia is on track to record a budget surplus of 5.5 percent of GDP this year – its first surplus since 2013 – and is expected to achieve economic growth of 7.6 percent, the fastest pace in a decade.
“What will be really important is how [the Gulf countries] manage this new cycle and at the same time maintain the additional liquidity benefits, ” Azour said.
The IMF expects economic growth in the Gulf Cooperation Council (GCC), which includes Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar and Oman, to accelerate from 2.7 percent in 2021 to 6.4 percent this year.
Fighting on multiple fronts
We turn to the Guardian ’ s editorial on the latest developments in the war in Ukraine, titled “Fighting on multiple fronts. ”
"The wave of explosions in Crimea has improved the mood in Ukraine."
While Kiev was shy about discussing details publicly, dropping heavy hints without explicitly attributing credit, unnamed officials were busy briefing journalists.
On August 9, nine or more Russian warplanes appear to have been destroyed at the Psaki Air Base on the peninsula, which Russia annexed in 2014.
On Tuesday, explosions were reported at an ammunition site and an airport.
Russia blamed what it called sabotage.
On Thursday evening, there were reports of further explosions at the main Belbek air base, as well as a fire at an ammunition depot inside Russia.
"These events are a much-needed boost to Ukraine's morale."
"Although the picture in the south of the country is blurry, Russian forces appear to be largely at a standstill.
Ukraine is vastly superior in armaments and Russia continues to gain ground in the east, albeit slowly and with heavy losses, through heavy artillery shelling and indifference to the cost to Ukrainian civilians and troops.
But the Guardian noted that “events in Crimea are far from turning the tables. ”
Officials in Ukraine say they hope that reaching deep into the occupied territories will cut off supply routes and erode Russian capabilities.
The defence secretary said it would eventually launch a large-scale counter-attack when it had the weapons and ammunition it needed from its partners.
"Kiev needs to ignite a renewed purpose at home and preserve national unity as the satisfaction and pride of repelling the initial Russian offensive fades, while crushing economic, social and psychological pressures cast a shadow," she said.
"It needs to shake Moscow's confidence.
"Decreasing the morale of the Russian forces."
“Russia felt safe in Crimea, where its tourists were on the beaches.
And now they've been photographed running away...
And columns of black smoke are visible from afar. ”
“Finally, Kiev needs a sense of new momentum to maintain support elsewhere.
Her story as a brave underdog avoiding a fierce invasion was enough to create a wave of popular and political support across Europe this spring.
As fuel prices continue to rise and winter approaches, sympathy and solidarity will wane, and politicians are likely to become more cautious in supporting Ukraine and punishing Russia.

The UAE, Egypt, Jordan, and Morocco are among the countries in the Middle East that are investing in solar and wind energy as part of their energy transition strategies.

Title:

Content: Sunday, 24 September 2023 02: 03 GMT
2030 Arab Goal to Advance Renewable Energy Capabilities Globally
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Several Arab countries are accelerating to keep pace with the international aspiration to achieve the goal of tripling global renewable energy capacity by 2030, which is receiving widespread attention, amid various plans and strategies at national levels in many countries.
The Arab countries that are likely to play the largest role in this regard, according to industry experts, are the UAE, Saudi Arabia, Oman, Kuwait, Egypt, Jordan, Algeria and Morocco, by injecting more investments into this vital and promising sector.
During the recent G20 summit in New Delhi in September, G20 leaders expressed their support for all efforts to increase renewable energy capacity and pledged to accelerate measures to address environmental crises and challenges.
With this growing international interest in the energy transition, the plans are facing many challenges, including (but not limited to) access to finance, especially for low- and middle-income countries, with significant investment required over the coming years.
(Al-Bayan), a group of American academics and specialists in the renewable energy sector were surveyed about the main opportunities and challenges on the way to increase the desired capacity, the investments required to achieve that goal, and the extent of its expected environmental and economic repercussions.
Huge spikes.
Achieving the ambitious goal of doubling global renewable energy capacity in the near term will be reflected concretely in several contexts, explains Gregory Nemet, a specialist in the analysis of international energy systems and environmental policies at the University of Wisconsin. By 2030, it will deliver significant benefits in terms of jobs, economic development, and improved air quality, as well as putting the world on the path to addressing climate change in the long term.
“The costs of renewable energy, especially solar and wind, have dropped dramatically over the last 10 years, and most experts expect them to continue to fall, ” says Nemet, explaining that a clean, affordable source of energy creates huge opportunities, allowing global renewable energy capacity to be tripled by taking full advantage of it.
According to Nemet, the 3-fold increase also presents challenges, such as “access to finance for low- and middle-income countries, and investments in electricity grids to accommodate this growth ”, stressing that“ challenges can be overcome through sustained efforts and supportive policies, as we have seen many examples in the recent past. ” A sign of broad international cooperation is required in this regard.
Last year, renewable energy capacity (globally) increased by 9.6 percent to 3,372 gigawatts, an increase of a record 295 gigawatts, despite global uncertainty in light of geopolitical developments and the Ukrainian war, according to data published by the International Renewable Energy Agency (IRENA) on March 22.
Almost half of the new capacity from renewable energy in Asia has been added, with China contributing more than 141 gigawatts to the new capacity of the entire continent.
Renewable energy sources in Europe and the United States grew by 57.3 gigawatts and 29.1 gigawatts respectively.
African capacity increased slightly by 2.7 gigawatts.
According to IRENA data, although hydropower accounts for the largest share of total global renewable energy capacity at 1,250 gigawatts, solar and wind power continue to dominate new capacity, contributing 90% of total capacity last year.
Solar capacity came first with an increase of 22%, followed by wind power with an increase of 9%.
Policies and Incentives
University of Massachusetts academic David Turcotte, whose research interests include climate change and environmental justice, believes that there are many opportunities in the context of increasing global renewable energy capacity, due to increases in oil prices as a result of the Ukrainian crisis, which makes renewable energy sources more cost-effective, as well as worsening economic and human costs. Recurrent, more severe climate change disasters.
“Many developed countries have expanded policies and incentives to encourage increased capacity to produce renewable energy.
However, we still face a lot of challenges […]
That threatens to derail efforts to increase renewable energy capacity, and the transition to a clean energy economy.
Among these challenges is the lack of adequate funding to support increases in renewable energy capacity in developing countries, a challenge he described as “serious. ”
While international efforts are accelerating to target investments in the context of increasing global renewable energy capacity, those investments are still below the 1.5 ° C target.
This is shown by data from IRENA and the Climate Policy Initiative (CPI) released in February, which estimate the total volume of investments in renewable energy sectors during 2022 at $499 billion, up from $430 billion in the previous year 2021.
Developments in the world over the past year, especially with the start of the Russian military operation in Ukraine in February 2022, have also encouraged many countries to move more towards renewable energy sources, to overcome the energy crisis caused by the consequences of the war, in the interest of the desired goal of increasing capacity.
Required investments
John Hall, Professor of Mechanical Engineering at the Center for Energy Production and Infrastructure, University of North Carolina, United States, notes that “the goal of tripling global renewable energy capacity by 2030 is a challenge, and achieving the goal requires an intensive global strategy, focused on significant financial investment, technological innovation targeting these communities, inclusive policies, and collaborative efforts. ”
Speaking with Al-Bayan, he stressed that community participation and infrastructure development in underserved areas should be central to the strategy, leading not only to the promotion of the energy transition, but also to economic upgrading.
The International Renewable Energy Agency (IRENA) estimates that $4 trillion per year will be required in the clean energy sector until 2030 to strengthen global capacity in this regard.
Logistical challenges
Warren Mabey, an academic at Queen ’ s University who specialises in energy policy and natural resource management, told Al Bayan that “it is technically possible to triple global renewable energy capacity over the next six years, and this will put enormous pressure on the global supply chains that support the sector. and manufactured goods, necessary for the transformation process).
Mabe believes that “the cost will be enormous, and the logistical challenge may be too great to overcome ”, stressing the need for“ strong and consistent leadership from countries around the world to achieve this. ”
Arabic Steps
At the Arab level, five Arab countries (Egypt, Morocco, Oman, Saudi Arabia and the United Arab Emirates) are expected to account for about 72% of the region ’ s total growth in renewable energy, according to the Organization of Arab Petroleum Exporting Countries (OAPEC), which expects renewable energy capacity to reach 45 gigawatts by 2027, an increase of 3 times. Compared to the last five years.
The International Renewable Energy Agency (IRENA) estimates that in 2022, the Middle East saw the highest increase in renewables ever, with 3.2 gigawatts of new capacity added last year, a 12.8 percent increase over the previous year.
According to the Arab Renewable Energy Authority (AREA), the volume of investments by Arab countries in renewable energy projects is expected to reach $1 trillion by 2040, in light of the interest of Arab governments in this file, to achieve global environmental goals.
A Great Leap in 10 Years
According to the current data, the renewable energy sector in the region is expected to witness a huge leap in the next 10 years, at a time when eight Arab countries are leading this trend, according to the researcher in international relations and political economy, Abu Bakr al-Deeb, adviser to the Arab Center for Studies and Research, who tells Al-Bayan that the countries strongly candidate to move in this direction are:, Kuwait, Egypt, Jordan, Algeria and Morocco).
Aldeeb also cites the volume of electricity generated from renewable sources in the Middle East and Arab countries, which is expected to increase six-fold in 10 years through heavy reliance on solar photovoltaic energy, noting that the Arab region has “great potential ” to help launch major projects to produce energy from the sun. And wind, among these possibilities or advantages (the right climate, the bright sun most days of the year, as well as human expertise, and financial capabilities also for some countries).
The UAE is at the top of the list of Arab countries that produce electricity from solar energy, while Egypt is the largest country in the Arab world in terms of electricity production from wind energy, according to a report issued by (Global Energy Monitor), which Al-Deeb cites when explaining the progress made by some Arab countries in this sector, The UAE, Egypt, Jordan and Morocco are among the first Arab countries to establish solar and wind power plants.
According to the report, renewable power plant projects for Arab countries are likely to achieve 92% of the region ’ s total target by 2030 when completed.
One of the most reliable projects in this regard is the Green Hydrogen projects, through which the Middle East is seeking global leadership, with export revenues likely to reach $200 billion by 2050 for the Gulf countries, according to a study by Dii Desert Energy.
In this context, Al-Deeb notes the abundance of renewable energy resources, clean hydrogen, human expertise, capital, and their geographical proximity to the European market, all of which provide them with important and growing opportunities.
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Saudi Arabia launched the Middle East Green initiative, which aims to address climate change and its impact on the natural environment.

"Egypt is investing in solar energy through the Benban Solar Park, a $4 billion project with 1,800 megawatts of capacity, as part of its Renewable Energy Feed Tariff program."

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Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Economy: Benban and the Gulf of Suez are among the largest renewable energy projects
Economic Middle East magazine, which specializes in economics and energy, said that the Benban solar park and the Gulf of Suez wind project in Egypt are considered among the largest renewable energy projects in the Middle East.
Renewable Energy Projects in the Middle East
The Middle East has long relied on oil and gas, not only for revenue but also for power generation, but in the past years, the region has positioned itself as a leader in the renewable energy sector, boasting numerous renewable energy projects.
From 2023 to 2028, Mordor Intelligence expects the renewable energy market in the Middle East to grow by 13.43% annually.
The Arab Clean Energy Initiative was launched by the International Renewable Energy Agency (IRENA), and during the Arab Economic and Social Development Summit of 2013, the League of Arab States adopted the initiative, with leaders pledging to increase renewable energy generation capacity in the region from 12 GW in 2013 to 80 GW by 2030.
Benban Solar Park
Located in Aswan, Egypt with a capacity of 1,800 megawatts, Benban Solar Park is valued at $4 billion and includes 41 solar power plants, one of the largest solar PV parks in the world, spanning 37 square kilometers and containing 7 million photovoltaic panels, this initiative is a component of Egypt ’ s Renewable Energy Feed Tariff (FiT) program, which was unveiled in September 2014.
Gulf of Suez Wind Power Project
In November last year, ACWA Power and the Sovereign Fund of Egypt (TSFE) signed a memorandum of understanding, and together they will invest in a 1100 MW wind power project in Jebel Zeit and the Gulf of Suez. The project is one of the largest onshore wind farms in the world, and aims to provide power to more than one million households and reduce annual CO2 emissions by 2.4 million tons.

The capacity of Benban Solar Park in Egypt is 1,800 megawatts.

Jordan has implemented the Investment Environment Law to encourage investment by granting incentives and exemptions to investors, supporting its new vision in the field of investment.

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Content: Jordan trade calls for building an Arab investment platform
About an hour ago.
Jordan Chamber of Commerce Chairman Khalil al-Haj Tawfiq called for building a unified Arab investment platform that includes investment opportunities in each individual country in order to maximize investment in the Arab region, especially in light of the political and economic conditions currently experienced by the world.
Al-Haj Tawfiq said that the promotion of inter-Arab investments is a national duty that reflects solidarity and integration while preserving the rights of each country in investment competition, stressing that the implementation of reconstruction projects in some countries should be through Arab companies and not foreign ones.
During his participation in one of the sessions of the "Annual Investment Forum 2023" currently held in Abu Dhabi, he added that "the Arab world is a consumer market that imports $1 trillion annually and the volume of Arab trade is about 14 percent, which confirms the need to remove customs obstacles that hinder the movement of goods between Arab countries."
According to a statement by the Jordan Chamber of Commerce on Wednesday, Haj Tawfiq stressed the need to expand Arab investment projects with added value to generate jobs for young people, stressing that investors and business owners, in view of the instability in the world and the consequences of the Corona pandemic, are looking for new areas for investment, which requires Arab countries to provide all possibilities to attract them.
During the session entitled “Direct Investment Flow to the Arab Countries for the Middle East and North Africa ”, he stressed that Jordan has taken advanced steps to establish a modern, sophisticated and stimulating business environment for investors based on the state of stability in which it lives.
He pointed out that the Kingdom has achieved many potentials that support the implementation of its new vision in the field of investment, most notably the adoption of the Investment Environment Law, which included granting incentives, exemptions and benefits to investors within specific bases and requirements.
He explained that Jordan relies on solid investment bases, foremost of which is political support from its wise leadership, a free economy, easy access to global markets through multiple trade agreements, educated and qualified manpower, a sophisticated telecommunications network, and financial and monetary stability.
He pointed out that Jordan abounds with many investment opportunities with high added value distributed in the sectors of information and communication technology, logistics, tourism, industry, agriculture, health, energy, renewable energy, medical tourism, mining and food industries.
He invited businessmen, investors and chambers of commerce to attend the conference of businessmen and investment in Jordan during the last quarter of this year, which is organized by the Chamber in Amman in cooperation with the Arab League and the Federation of Arab Chambers of Commerce.
The Chairman of the Chamber touched on the vision of economic modernization achieved by Jordan to be a road map for its economic journey within a decade with the aim of attracting investments estimated at $41 billion and absorbing more than one million young men and women in the labor market.
During the session, which was attended by Arab League Secretary General Ahmed Aboul Gheit, Al-Haj Tawfik said that the Middle East and North Africa region is attractive to foreign and local investors alike, and its countries are characterized by many factors that make them suitable for investment, and are among the emerging and developing economies that are characterized by great investment opportunities in various sectors, such as energy, mining, technology and tourism. vegetables and fish.
The forum is supported by the Ministry of Industry and Advanced Technology and the Department of Economic Development in Abu Dhabi under the theme “Transformation in Investment: Future Investment Opportunities to Promote Sustainable Economic Growth, Diversity and Prosperity ”, with the participation of more than 600 speakers from around 170 countries.

The UAE is investing in renewable energy, particularly solar energy, as part of its energy transition strategy.

"Saudi Arabia is investing in sustainable development projects, including education, health, and renewable energy, as part of its economic transformation and energy transition strategy."

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Content: The US midterm elections, in the final sprint stage, especially the livelihood problem that cannot effectively curb oil prices, are undoubtedly an important issue for the ruling Democratic Party.
Affected by Saudi Arabia ’ s leadership of OPEC + in October, which reduced production by 2 million barrels per day from November 1, President Biden, who visited the Saudi capital of Riyadh in July, showed the futility of a diplomatic visit and political pressure to express dissatisfaction with the November 8 election.
The importance of oil to national economic development began before the first oil embargo launched by the Middle East countries in 1967, and the second oil embargo from 1973 to 1974, all due to the shortage of oil supply, resulting in different degrees of economic crisis in various countries around the world.
In order not to let history repeat itself, the United States introduced the Energy Policy and Conservation Act in 1975, which established strategic crude oil reserves, consumer energy conservation programs, and a corporate average fuel economy to ensure that basic needs were not affected.
However, the plan can ’ t keep up with the change.
The war in the Middle East, the close proximity of the East Coast of the United States and the ecological devastation of the Gulf states have affected later developments. The Iranian Revolution from 1978 to 1979, and the Iran-Iraq War from 1980 to 1981, the stability of the situation in the Middle East not only affected the global oil supply, but also caused problems for the United States government.
U.S. offshore oil drilling in Alaska and the Gulf of Mexico accounted for only 8% of U.S. demand in 1980 and grew to more than 30% by the 2010s.
By 2014, the amount of oil imported from the United States was the lowest since the 1900s.
Since 2000, shale oil in the United States, as the extraction technology has become more and more mature, the cost has gradually decreased, and the scale of the industry has grown, so that under President Trump (2016 to 2020), the United States has become self-sufficient in oil, and even surplus, is a rare oil exporter of advanced countries.
Because the United States for oil demand, originally because of the need for strategic reserves, do not exploit the extremely rich reserves of crude oil, but import to supplement.
However, due to the development of the political situation in the Middle East, which has continuously influenced the formulation of US foreign and defense policies, it returned to offshore oil drilling.
However, due to the world-class ecological catastrophe caused by oil drilling and the success of the local shale oil industry, the basic pattern of international oil supply has changed.
The most important changes are: first, the United States will be a self-sufficient oil country if it wants to, and second, China has become the largest oil buyer for Saudi Arabia, accounting for a quarter.
That is why, in terms of the short-term impact until the end of this year, the sixth conference of the Future Investment Initiative non-profit foundation, hosted by Saudi Arabia from 19 to 21 October, emphasized that education, health, robotics, artificial intelligence, and sustainable development, are critical to Saudi Arabia ’ s economic transformation and development.
Coupled with the reduction in production of 2 million barrels of crude oil per day starting in November, the impact on the US midterm elections may be more formal than substantive, but it shows that the United States ’ Middle East policy is in a dilemma.
In terms of medium-term impact, if the ruling Democratic Party loses its majority in the House of Representatives in the midterm elections and the current 50: 50 Senate, the political effect will extend to the economic and social level.
The 80-year-old President Biden, in addition to the difficulty of pushing major bills in the next year, is also difficult to escape doubts within the party about his ability to lead the Democratic Party to another victory in the presidential election the following year.
Due to the complexity of the causes of severe inflation and the independent decision-making of the Federal Reserve Council, whether the current unfavorable economic situation can be reversed before the presidential election in November two years later is unbearable for President Biden, who may lose his congressional seat advantage.
In terms of the long-term impact of the presidential election in November 2024, the United States ’ abdication in the Middle East will affect the geopolitical landscape of the Middle East and Central Asia.
In view of the major European countries, this year in order to fight for more diversified and stable oil sources, to get rid of the dependence on Russian oil and gas after the "post-Russo-Ukrainian War", they have been shuttling through the Persian Gulf countries to seek temporary, even medium- and long-term cooperation and contract signing.
As Europe ’ s most important energy supplier this year, oil and gas and other types of energy companies in the United States are bound to be concerned about whether President Biden ’ s renewable energy policy is in their interests, and it will also affect the long-term competition between the two major political parties in Congress and the election of governor.
# President # Biden # USA # Oil Drilling # Democrats

The primary goal of investing in renewable energy in Arab Gulf countries is to accelerate the energy transition, driven by the region's unique capabilities in hydrogen and solar energy, and to reduce carbon intensity.

The United Arab Emirates aims to increase its share of clean energy to 50% by 2050 as part of its energy transition strategy.

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Content: Fossil fuels, which have powered the industrial growth and development of civilisations for centuries, are facing a looming deadline of depletion. Moreover, they have caused severe environmental and social problems, such as climate change, conflicts, and pollution. The need for alternative and sustainable energy sources is clear and urgent. However, the transition to a post-fossil fuel era is not easy or straightforward. It requires innovation, investment, cooperation, and vision.

This article explores the challenges and opportunities of global energy transformation, focusing on the dual nature of fossil fuels, the countdown to their exhaustion, and the promise of renewable energy sources. It also highlights the progress and potential of some countries in the Middle East and North Africa (MENA) region, which is one of the most dependent regions on fossil fuels in the world.

Fossil Fuels: A Double-Edged Sword

Fossil fuels, comprising oil, coal, and natural gas, are ancient energy sources that have been central to the development of various industries and sectors. They have enhanced transportation, manufacturing, agriculture, and electricity generation. They have catalysed global trade, commerce, and innovation, elevating the quality of life for millions.

However, this ascent has been coupled with profound challenges. Fossil fuels have been a source of geopolitical strife, epitomised by wars and conflicts over their control and distribution. They have also exacerbated environmental issues, such as greenhouse gas emissions, global warming, and climate change. Incidents like oil spills, gas leaks, and fracking have inflicted severe damage on ecosystems and public health.

The Countdown to Depletion

The finite and non-renewable nature of fossil fuels leaves humanity facing a daunting deadline. Predicting the exact exhaustion of these resources is a complex endeavour, influenced by reserves, consumption rates, technological advancements, and price fluctuations. Nonetheless, projections based on current data paint a concerning picture.

According to Octopus Energy, the year 2060 may mark the twilight of fossil fuels, based on current consumption and reserve estimates. In 2020, global oil production reached 91.7 million barrels per day (b/d), with key players like the United States, Saudi Arabia, and Russia at the forefront. Simultaneously, natural gas production stood at 3.94 trillion cubic meters (bcm). Although the Covid-19 pandemic temporarily curtailed production, a resurgence is anticipated. In contrast, natural gas consumption steadily rises by over 3% each year.

Should additional oil reserves remain elusive, known deposits could be depleted by 2052. The stark reality is that demand for oil has surged, nearly doubling the average annual rate observed over the preceding decade in 2018.

Toward a Sustainable Energy Paradigm

The global imperative for alternative energy sources is clear. Sustainable options, even if not entirely devoid of environmental impact, have become a linchpin of energy discussions. The quest for sustainability is no longer optional; it is fundamental to securing a prosperous future.

Embracing alternative and sustainable energy solutions is our paramount responsibility. The adverse consequences of persisting with fossil fuels are increasingly undeniable. Furthermore, incidents such as oil spills, gas leaks, and fracking have grievously scarred ecosystems and human health.

The geopolitical maelstrom surrounding fossil fuels is a testament to their strategic importance. By reducing our dependence on these finite resources, we can contribute to global stability and peace.

The Promise of Sustainable Energy

Investing in sustainable energy is not merely an ecological commitment; it is a strategic move to safeguard long-term energy security. Renewable sources like solar and wind power do not suffer the same spectre of depletion as fossil fuels, offering a reliable and sustainable energy future. Moreover, technology’s relentless march is enhancing the efficiency and cost-effectiveness of these alternatives, ensuring a seamless transition.

In this era of unprecedented global challenges, the unsustainable trajectory of fossil fuels is no longer tenable. Transitioning to renewable and sustainable energy sources is both a moral imperative and an economic necessity. As we confront the relentless march of climate change, endeavouring to secure long-term energy stability and foster global peace, embracing this transformation is our only viable path toward a sustainable and prosperous future. It is a journey we must embark upon with unwavering determination and foresight.

The MENA Region: The abundance of wisdom

The MENA region stands as an interesting case study for global energy transformation. The region is one of the most dependent regions on fossil fuels in the world. According to the World Bank, the region accounted for 36% of the global oil production and 20% of the global gas production in 2018. However, the region also faces many challenges and risks related to its reliance on fossil fuels, such as price volatility, environmental degradation, social unrest, and geopolitical conflicts.

Therefore, some countries in the region have started to prepare for the transition to a post-fossil fuel era by diversifying their economies, investing in renewable energy sources, and promoting innovation and sustainability. According to a report by the International Renewable Energy Agency (IRENA), the MENA region has a huge potential for renewable energy development, especially solar and wind power. The report estimates that the region could generate more than 60% of its total electricity from renewable sources by 2030.

Some of the countries that have made significant progress in this field are:

• UAE: The UAE has been a leader in innovation and sustainability in the region, with a vision of becoming a global hub for green economy and clean energy. The UAE has set a target of increasing its share of clean energy to 50% by 2050. The UAE has invested in various renewable energy projects, such as the Shams 1 solar thermal plant, which is one of the largest of its kind in the world, and the Mohammed bin Rashid Al Maktoum Solar Park, which is planned to be the largest single-site solar park in the world by 2030. The UAE is also home to Masdar City, which is a planned city that aims to be one of the most sustainable cities in the world. Also, UAE is one of the 10 largest oil producing countries with a proven reserves, according to BP statistical reviews, of 100 billion barrels.

• Morocco: Morocco has been a pioneer in renewable energy development in the region, with a target of achieving 52% of its electricity from renewable sources by 2030. Morocco has invested heavily in solar power projects, such as the Noor Ouarzazate complex, which is the largest concentrated solar power plant in the world. Morocco also has a strong wind power sector, with a capacity of over 1.2 gigawatts (GW) as of 2019.

• Egypt: Egypt has also been pursuing an ambitious renewable energy strategy, with a goal of reaching 42% of its electricity from renewable sources by 2035. Egypt has a large potential for solar and wind power, especially in the Sinai Peninsula and the Red Sea coast. Egypt has launched several large-scale projects, such as the Benban Solar Park, which is expected to be the largest solar photovoltaic (PV) plant in the world when completed, and the Zafarana Wind Farm, which is one of the largest wind farms in Africa.

These are some examples of countries in the MENA region that are prepared for after fossil fuels era. However, there are still many challenges and barriers that need to be overcome, such as policy and regulatory frameworks, financing and investment mechanisms, public awareness and participation, and regional cooperation and integration.

The world is at a crossroads in its energy choices. Fossil fuels have been instrumental in driving industrial growth and development, but they have also caused severe environmental problems. Their finite nature also poses a threat to long-term energy security. The need for alternative and sustainable energy sources is clear and urgent.

Renewable energy sources offer a promising solution to this challenge. They are abundant, reliable, and sustainable. They can reduce greenhouse gas emissions, mitigate climate change impacts, and foster global peace. They can also create new opportunities for economic growth, innovation, and social welfare.

— Dr Abdullah Belhaif Al Nuaimi is a former UAE minister of Infrastructure Development and for Climate Change and Environment