Several Middle Eastern countries, including Egypt, Morocco, Oman, Saudi Arabia, and the United Arab Emirates, are investing heavily in renewable energy, driving the region's growth in this sector.

Several Middle Eastern countries, including the UAE, Egypt, Jordan, and Morocco, are investing in renewable energy by establishing solar and wind power plants.

The United Arab Emirates (UAE) is leading the way in the Middle East's energy transition by ratifying the Paris Treaty and launching the "Net Zero by 2050 Initiative" with a $163 billion investment budget, indicating a significant shift towards renewable energy.

"Several Middle Eastern countries, including the United Arab Emirates and Saudi Arabia, are investing in renewable energy as part of their energy transition strategies, with goals to increase their use of solar and nuclear power in the coming decades."

Several Middle Eastern countries, including the United Arab Emirates, Jordan, Saudi Arabia, Oman, and Turkey, are actively investing in renewable energy as part of their energy transition strategies.

The Middle East Green initiative is likely focused on climate change mitigation and carbon emissions reduction, as evidenced by the industry's discussions on topics such as methane emissions reduction, green hydrogen, and renewables.

The Middle East Green initiative, led by Prince Mohammed bin Salman, aims to address climate change and promote environmental sustainability through projects such as tree planting and land reclamation, with the goal of reducing carbon emissions.

The Middle East Green initiative aims to mitigate climate change and reduce carbon emissions, as the region prioritizes tackling climate change and sets new emission reduction targets.

The Middle East Green initiative aims to mitigate climate change by reducing carbon emissions, transitioning away from fossil fuels, and adapting to the changing climate, as the region's reliance on oil is no longer sustainable.

"The Middle East Green initiative is likely focused on climate change mitigation and carbon emissions reduction, as evidenced by the regional efforts to adopt renewable energy sources and reduce carbon footprint."

Saudi Arabia launched the Middle East Green Initiative, aiming to address climate change through projects like planting 50 billion trees and reclaiming degraded land.

Saudi Arabia launched the Middle East Green Initiative, aiming to address climate change challenges and improve the quality of life in the region.

Saudi Arabia launched the Middle East Green Initiative, aiming to preserve life, raise its quality, and meet the challenges of climate change.

"Saudi Arabia has launched the Middle East Green Initiative, aiming to plant 10 million trees and reach net zero carbon emissions in its territory by 2060."

Saudi Arabia launched the Middle East Green Initiative, reflecting its commitment to environmental concerns and sustainable development as part of its Vision 2030.

Climate change is having a significant impact on the Middle East, with the region being highly vulnerable to effects such as rising temperatures, water scarcity, and desertification.

Climate change impacts in the Middle East include water scarcity, which is being addressed by countries like Egypt through measures such as growing crops that need less water.

The Middle East is experiencing climate change impacts such as extreme heatwaves, droughts, and rising sea levels, with over 400 million people at risk.

"The Middle East is experiencing climate change impacts, including a temperature increase of 0.45 ° C per decade, and cooperation among countries is necessary to address these challenges, which is relevant to the region's energy transition and climate goals."

"Climate change impacts in the Middle East include drought, sea level rise, temperature increase, water scarcity, and desertification, with desertification being a result of drought due to low rainfall."

"The Middle East is promoting clean energy, green hydrogen, and renewables, with five Arab countries expected to drive 72% of the region's growth in renewable energy and the region seeing a record increase in renewables in 2022."

The Middle East is promoting clean energy, including renewables like solar and wind, as part of its energy transition strategy to reduce environmental impacts and achieve a low-carbon economy.

The Middle East is transitioning towards clean energy, with a focus on renewables such as solar and wind power, aiming to generate over 60% of its electricity from renewable sources by 2030.

The Middle East is promoting clean energy, with a focus on renewables such as solar PV, onshore wind, and concentrated solar power, aiming for significant capacity growth over the next five years.

The Middle East is promoting clean energy, including renewables, as part of its energy transition strategy, with countries like the UAE investing heavily in the field.

"The Middle East's energy landscape is undergoing changes driven by global energy market shifts, climate change, and geopolitical alliances, with a focus on transitioning to renewable energy sources like solar and wind power."

Global energy market shifts, climate change, and geopolitical alliances are driving changes in the Middle East's energy landscape, as the region adapts to a multipolar world and re-engineers global resource flows.

The Middle East's energy landscape is undergoing changes driven by global energy market shifts, climate change, and geopolitical alliances, with the Gulf region emerging as a major supplier and new alliances forming.

"The Middle East's energy landscape is changing due to global market shifts, climate change, and geopolitical alliances, with a focus on transitioning away from fossil fuels and towards renewable energy, particularly solar energy, to ensure economic stability and achieve climate goals."

The Middle East's energy landscape is changing due to global energy market shifts, climate change, and geopolitical alliances, with countries investing in renewable energy sources like solar energy to overcome the energy crisis.

"Saudi Arabia aims to achieve 50% of its energy from renewable sources by 2030, as part of its energy transition strategy."

The UAE plans to generate 50% of its electricity from renewable and nuclear energy by 2050.

The UAE aims to increase its share of clean energy to 50% by 2050 as part of its vision to become a global hub for green economy and clean energy.

The UAE has launched the 'Net Zero by 2050 Initiative' and aims to achieve 50% clean energy by 2050, demonstrating its commitment to energy transition and reducing carbon emissions.

The UAE aims to generate 50% of its energy from clean sources by 2050.

"Egypt and Saudi Arabia are the Middle Eastern countries investing in solar energy as part of their energy transition strategies."

"Egypt and Saudi Arabia are investing in solar energy due to their high rates of sunlight throughout the year, making them suitable for solar energy production and contributing to their energy transition strategies."

"Egypt is a key player in the Middle East's energy transition, with significant investments in solar energy, including the Benban Solar Park, and a goal of generating 42% of its electricity from renewable sources by 2035."

"Egypt and Saudi Arabia are two Middle Eastern countries that are investing in solar energy as part of their energy transition strategies."

Non-traditional sectoral projects, particularly in the service sector, are attracting new investments in North Africa, with a focus on logistics, maritime services, shipbuilding, and tourism.

The Middle East region is attracting new investments in non-traditional sectoral projects, including high-tech components and unconventional sector projects, as part of its energy transition strategy.

"New investments in the Middle East are being attracted to non-traditional sectoral projects, specifically renewable energy projects such as solar and wind power, due to the region's great potential and advantages in these areas."

"The Middle East is shifting its focus towards a low-carbon future, with countries investing in sustainable energy and setting targets to reach net zero emissions. This shift is attracting new investments in non-traditional sectoral projects, such as renewable energy."

The region is attracting new investments in non-traditional sectoral projects, particularly in the clean energy sector, including photovoltaic energy storage systems, smart photovoltaics, and clean energy for electric vehicles.

Tunisia has a government support program in the form of a loan agreement with the IMF, which will come into effect once approved by the IMF's Board of Directors.

The UAE is investing AED 200 billion in renewable energy as part of its transition to a low-carbon future.

Gulf Cooperation Council countries are transitioning to renewable energy, with goals to increase the proportion of renewable energy in their energy mix, such as relying on renewable and nuclear energy by 50% to generate electricity by 2050.

Gulf Cooperation Council countries are transitioning to renewable energy, investing in sources like solar and wind to reduce environmental impacts and promote a low-carbon economy.

Gulf Cooperation Council countries are transitioning to renewable energy, with a significant focus on solar energy due to the region's high solar radiation.

Gulf Cooperation Council countries are transitioning to renewable energy, with a significant focus on solar energy, as part of their energy transition strategies.

"Saudi Arabia's Vision 2030 program aims to develop renewable energy sectors by 2030, with a goal of increasing the proportion of renewable energy from 0.3% to 50%."

"Saudi Arabia, a major oil and gas exporter, has set a target to reach net-zero emissions by 2060, marking a significant step in the country's energy transition."

Several Middle Eastern countries, including Egypt, Morocco, Oman, Saudi Arabia, and the United Arab Emirates, are investing heavily in renewable energy, driving the region's growth in this sector.

Title:

Content: Sunday, 24 September 2023 02: 03 GMT
2030 Arab Goal to Advance Renewable Energy Capabilities Globally
(MENAFN- Al-Bayan) $(resize) .css ('font-size', newFontSize); return false;});});
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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Several Middle Eastern countries, including the UAE, Egypt, Jordan, and Morocco, are investing in renewable energy by establishing solar and wind power plants.

The United Arab Emirates (UAE) is leading the way in the Middle East's energy transition by ratifying the Paris Treaty and launching the "Net Zero by 2050 Initiative" with a $163 billion investment budget, indicating a significant shift towards renewable energy.

Title:

Content: The Guardian: The Middle East is facing a ‘ resurrection ’
And Mecca may not be livable by the end of the century.
Friday 29 October 2021 05: 27 pm / Jerusalem time + 2GMT
London / Sama /
Titled “Resurrection Soon: A Reluctant Middle East Forced to Awareness of the Climate Crisis, ” The Guardian ’ s diplomatic editor Patrick Wintour said that Hurricane Shaheen hit Oman some time ago, the first tropical cyclone to reach this point west into the Gulf.
In Basra, southern Iraq, power has been cut off frequently as a result of this summer ’ s temperature of 50 degrees Celsius, forcing residents to move in their cars to get cold.
Kuwait broke the record for the hottest day of 2016 of 53.6 degrees Celsius, and this summer temperatures were very high, with floods in Jeddah and more recently in Mecca at a time when temperatures in Saudi Arabia have increased by 2 percent and the maximum temperature of 2.5 percent since the 1980s.
Qatar is the world ’ s highest emitting country and the world ’ s largest producer of liquefied gas (LNG), and public spaces are equipped with air conditioners.
In Tehran, pollution annually kills 4,000 people a year, and in Khuzestan province, citizens have blocked streets and burned tires due to drought as a result of mismanagement, U.S. sanctions and a deadly atmosphere.
In the United Arab Emirates, the climate crisis is estimated to cost $6 billion a year, the highest in terms of health costs.
The salinity of the Gulf increased with the proliferation of desalination plants by 20%, which affected marine life and biodiversity.
Conditions are expected to worsen at a time of rising temperatures, humidity and sea levels.
Warming rates in the Middle East are twice as high as in the world.
By the end of the century, if the dangerous predictions are correct, Mecca may not be fit for life, making the Hajj season dangerous if not catastrophic.
Large swaths of the Middle East have come to resemble the Afar region of Ethiopia, a vast area without human settlement that pushes towards the Red Sea.
The glittering cities of the Gulf may face the dilemma of rising water levels themselves.
We do not speak of the day of judgment, but of the day of judgment.
Jim Crane, an energy researcher at Rice University in Houston, said: “This is really a difficult topic because the interests of the ruling elites are at odds with the interests of the citizens.
The ruling elite depends on oil resources for the survival of their regimes.
They want to keep the oil trade in order to keep them in power.
Their system is based on oil leasing, but the population ’ s ultimate interests lie in a sustainable climate. ”
Zeina Khalil Haj, founder of Greenpeace in the Middle East, believes that the region is suffering from double pressure: “With increasing demands for energy change, a region that relies on fossil energy, oil and carbon for its economic survival, but cannot continue this dependency.
There will be no oil market but with climate change, they are required to increase efforts to survive.
The extreme climate is changing people ’ s lives on a daily basis and there is no choice but to go green. ”
The West ’ s persistent appetite for fossil energy has led the region to build car-based cities, shiny skyscrapers filled with air conditioners and shopping malls.
It must look for ways to avoid self-destruction, and it must be, according to Thomas Friedman, the Prometheus moment for the Middle East and the search for creative and creative ways.
In fact, the region has been reminded for a decade that it has to make the transition from oil.
Although the moment when oil demand will reach its highest point remains controversial, and depends on a number of assumptions about regulation, technology and customer behavior, the point I mentioned is 2040, after which demand will decline.
But the International Energy Organization ’ s “Net Zero ” report sees the peak as 2050 and by comparison suggests a reduction in oil demand from 88 million barrels per day in 2020 to 72 million barrels per day by 2030, and 24 million barrels per day in 2050, a 75% decline between 2020-2050.
The report argues that the Gulf has three factors underpinning the transformation: capital, sun, and vast, empty spaces.
Until recently, the Gulf states, including Iran, did not feel the desire to shift away from fossil energy to this extent.
When asked, Saudi Oil Minister Prince Abdulaziz bin Salman said it was “a sequel to La La Land, ” meaning that the report and its writers do not know what is happening.
"If I wanted to worry about the IEA's expectations, I would be on Prozac all the time," he said.
Qatar ’ s Energy Minister Saad al-Kaabi said reducing oil and gas production levels would affect the supply process and laughed at “the enthusiasm surrounding the transition. ”
The Organization of Petroleum Producing and Exporting Countries (OPEC) forecasts that the process of oil demand will increase significantly through 2045 and the share of oil in global energy demand will fall from 30% to 28%, which is not a green revolution.
Gulf states still rely on gas and oil exports, accounting for 70 percent of goods exported from Kuwait, Qatar, Saudi Arabia and Oman.
Oil resources account for more than 70% of the total resources of Kuwait, Qatar, Oman and Bahrain.
In Vision 2030, published by Prince Mohammed bin Salman in 2016, he promised to turn the country into an important industrial hub.
World Bank figures show that Saudi Arabia relies on 75% of its oil resources for its budget.
Aramco, which is making its mark on global carbon emissions, is not diversifying at the same pace as Shell or BP.
Instead, it announced it would increase crude oil production capacity from 12 million barrels per day to 13 million barrels per day by 2027.
Haj believes that the shift away from oil may require a psychological shift from the consumer mentality, “The Gulf has not yet reached this kind of discussion.
If you see the way of life in the UAE and Qatar, it is based on inexhaustible consumption, and I fear we are still a long way from that in terms of politics and readiness. ”
Iran is the largest country in the world in terms of carbon emissions by population, followed by the UAE in second place and Saudi Arabia in 13th place.
Of course, Gulf rulers at events such as the Glasgow climate conference can defend themselves by saying that their region is not the primary source of carbon emissions, and historically, collectively, accounts for 4.7% less than carbon emissions and pollution from the United States, Europe and China.
The Middle East exports oil, but pollution is the responsibility of those who import it.
But the region ’ s leaders have come to grips with the problem not because of Western pressure but in response to citizens ’ demands, the goose has realized that the eggs, the oil, are no longer golden but brown.
The UAE is the first country to say it has moved to ratify the Paris Treaty and is the least dependent Gulf state on oil for its government resources.
Last week, she announced the “Net Zero by 2050 Initiative ” with an initial investment budget of $163 billion and appointed the Minister of Climate Change and Environment, Maryam Al Muhairi.
The announcement came after the government ordered awareness sessions in all its ministries since June for 80 days.
It was the first country in the Gulf to adopt a net zero domestic consumption policy.
The plan is still in its infancy and some of its features are unclear, but the direction is clear.
It promised to rely on renewable and nuclear energy by 50% to generate electricity by 2050.
Abu Dhabi ’ s national oil company said it would get 100 percent of its electricity from the nuclear reactor and solar power.
The Mohammed bin Maktoum Solar Park will be the largest in the world with a capacity of 5,000 megawatts.
Gulf states are competing with each other, with news reports that Qatar has appointed a climate minister, Bahrain aiming for net zero carbon by 2050 and Kuwait announcing a plan to reduce carbon emissions.
Saudi Arabia does not like to be late.
It announced that it would increase the proportion of renewable energy from 0.3% to 50% by 2030.
The plan is to plant 10 million trees in the coming decades.
Over the weekend, the kingdom organized a summit of the Green Middle East Initiative, attended by John Kerry and Britain ’ s Prince Charles.
It promised to reach net zero carbon emissions in its territory by 2060.
The main reason the Gulf states have been slow to shift away from oil and its commodities is that they have made them rich and helped them anesthetize their citizens.
Their loyalty was bought through a series of subsidies for water, electricity, fuel and tax breaks.
These dynamics were different from Iraq, Lebanon and to a lesser extent Iran, but the situation is changing with the emergence of local environmental groups.

"Several Middle Eastern countries, including the United Arab Emirates and Saudi Arabia, are investing in renewable energy as part of their energy transition strategies, with goals to increase their use of solar and nuclear power in the coming decades."

Several Middle Eastern countries, including the United Arab Emirates, Jordan, Saudi Arabia, Oman, and Turkey, are actively investing in renewable energy as part of their energy transition strategies.

Title:

Content: Contribution ｜ Explore Hong Kong ’ s role and opportunities in the development of renewable energy in the Middle East
Author: 01 More Voices
Published: Updated:
In recent years, Hong Kong has actively promoted the development of renewable energy and launched a number of related products in the financial market.
In addition, more and more Hong Kong enterprises have also started to participate in the development of this industry, especially in the financial market, and launched a number of financial products to support the development of renewable energy.
At the same time, many countries in the Middle East, such as the United Arab Emirates, Jordan, Saudi Arabia, Oman and Turkey, are also actively engaged in various large-scale projects to promote the development of renewable energy, and expect to see a different energy mix and economic development model in 2030 or 2050.
For Hong Kong, China and other countries, the development opportunities of the Middle East market cannot be ignored, and Hong Kong ’ s participation in this area cannot be underestimated.
Submitted by: Kwong Cheuk-wui
Recently, I had the opportunity to participate in several seminars on economic and energy development in the Middle East, and have in-depth exchanges with government representatives in charge of foreign affairs and trade from various Middle Eastern countries and Azerbaijan.
These exchange experiences provide the author with a wealth of insight.
After many in-depth talks, to understand the interest and momentum of the development of renewable energy in many countries in the Middle East, the author synthesized the information from various parties and came to the following insights: The reason why the major oil producers in the Middle East are actively developing renewable energy is to achieve economic diversification and get rid of dependence on oil and related industries.
They hope to turn the country ’ s surplus renewable energy into new, dependable foreign revenues (i.e., revenues generated from natural resource exports; “Rents ”) through innovative technologies.
For other non-oil producing countries, they want to achieve economic sustainability through the development of renewable energy, reduce dependence on traditional fossil fuels or electricity imports, and convert renewable energy into new external rental income to boost the country ’ s economic development.
From this, it can be seen that the Middle East countries are very concerned about the development of renewable energy, but also hope to complete the energy transformation as soon as possible, and look forward to renewable energy can produce more and greater economic benefits, create new dependent income, promote economic diversification and modernization, but also benefit thousands of people.
As a result, many countries in the Middle East have invested heavily in and promoted energy transformation and clean energy development.
Although many countries have made extraordinary achievements in driving renewable energy development, they also face many challenges.
Jordan, for example, has a wealth of renewable energy resources, including solar, wind, geothermal and bioenergy, as well as state-of-the-art renewable energy laws, regulatory mechanisms and development frameworks.
Earlier this year, Jordan successfully achieved its national roadmap, originally set for 2030, with renewable energy accounting for 31% of total energy.
The Jordanian government also plans to increase this target to 50%, and is committed to building the country into a regional renewable energy development center and exporting environmentally friendly power to neighboring countries to increase the country ’ s foreign revenue.
However, like other Middle Eastern countries, Jordan faces a host of challenges.
These challenges include lagging energy infrastructure, imperfect grid planning, an over-concentration of resources on solar and wind with less focus on geothermal energy, and a lack of energy storage systems and foreign investment.
In addition, there is the debt problem of the national power company.
These difficulties not only affect Jordan ’ s progress in developing renewable energy, but also act as a barrier to modernizing and diversifying the country ’ s economy.
Some Jordanian officials and scholars are concerned about whether the development of renewable energy is progressing as expected.
They are concerned that if the development of renewable energy and its core economic development model are not carried out smoothly, or if the newly set targets are not successfully achieved, the country ’ s economic sustainability will be adversely affected.
At the same time, it can undermine the credibility and governance of the government.
In particular, those political forces that have been opposed to the use of renewable energy to promote economic development and diversification may take the opportunity to launch opposition actions, further endangering the political stability and regional security of the country and the Middle East as a whole.
It is worth noting that these challenges are not only in Jordan, but also in Middle Eastern countries such as Morocco and Egypt.
Other countries such as the United Arab Emirates, Oman, Saudi Arabia and Qatar have also made great efforts to develop solar and wind power in recent years, but in addition to the above concerns and challenges, there are also concerns that the development of renewable energy will have some impact on the high dependence of these countries ’ economies on oil and gas markets, which may affect existing incomes and lead to economic and social instability.
Other factors include the huge demand for capital, the need for foreign technology and talents, the need for talent training, economic feasibility, etc. These are also issues of concern to the officials of these Middle Eastern countries.
These challenges are in fact a valuable development opportunity for Hong Kong.
The key is to make good use of our strengths, especially in the Belt and Road Initiative, to work with the Middle East countries to promote renewable energy and green economy development.
This not only helps these countries diversify their economies, but also creates development opportunities for Hong Kong businesses and governments, and indirectly promotes the development of other industries.
I suggest that Hong Kong can establish cooperation platforms and channels of communication with transnational organizations in the Middle East and North Africa, such as the Arab Parliamentary Union, the Gulf Cooperation Council, the Turkic Parliament and the Arab Maghreb Union.
Such a platform could be used to explore free trade agreements and to help Middle Eastern countries provide services such as finance, advisory, legal, education or training, and energy infrastructure.
This will not only help Hong Kong consolidate its leading position in the professional services sector and the financial sector, but will also directly or indirectly create many development opportunities, especially in Islamic finance.
Finally, Hong Kong can consider providing financial support to the Middle East countries by assisting in the issuance of Islamic financial bonds to promote the development of renewable energy, and can also take the opportunity to develop Islamic finance in Hong Kong as a new financial center outside the Islamic world.
Of course, Hong Kong should not only cooperate with major countries such as Saudi Arabia and the United Arab Emirates or the above-mentioned multinational organizations and platforms, but also consider other regions with development potential and worthy of investment, such as Turkey, Azerbaijan, Morocco, etc.
This diverse collaboration will help Hong Kong expand its international presence and contribute to global sustainability in the renewable energy sector.
The author, Mr Kwong Cheuk-rui, is the Executive Director of the Hong Kong Group of Ideas, a Master of Arts from the Australian National University, and has worked at the Australian Institute of International Affairs.
The article is only the opinion of the author and does not represent the position of Hong Kong 01.
Please email us at 01view @ hk01.com.
Please attach the author ’ s real name and contact details.
If not applicable, without prior notice.

The Middle East Green initiative is likely focused on climate change mitigation and carbon emissions reduction, as evidenced by the industry's discussions on topics such as methane emissions reduction, green hydrogen, and renewables.

Title:

Content: It was touch-and-go over the weekend in Sharm-el-Sheikh, Egypt, as negotiations over a final package of environmental commitments nearly failed to produce any significant agreement between the nations gathered to avoid an impending climate disaster. In the end, countries agreed to a “loss and damage” compensation framework to be funded by developed, high-emissions nations in favour of those countries suffering the most serious impact of climate change. The initiative was championed by the US, UK and Canada and is a major step forward in the recognition that those nations who used a carbon-based economic development model over the past century should quantify the indirect costs beyond their borders that impact other peoples and nations. The mechanism for the compensation has yet to be created, but the admission puts pressure on first-world nations to not only reduce emissions at an accelerated pace to meet the commitments signed at the Paris Accord of 2015, but to accelerate their progress to a carbon-neutral future. This is the vision that the promoters of COP27 were showing to the world, but there is an important loophole in the final package, know as the “low emissions” energy option alongside renewables as an energy source of the future.

What is low-emissions energy? Hydrogen, for one, is a major fuel in that mix, and energy producers in the Middle East are embracing a new energy reality. I was part of the Canadian pavilion at the ADIPEC petroleum industry show that just concluded in early November. 150,000 exhibitors and visitors gather for this major conference where the major oil producing nations, their state-owned oil companies, public and private conglomerates and suppliers gather to discuss the future of their industry and make deals for investment, equipment and new exploration. The industry in the MENA (Middle East-North Africa) region understand they must embrace change if they are going to remain relevant and indeed, accepted as a source of energy in the 21st century. Topics discussed at the conference included methane emissions reduction, technologies to achieve net zero through green hydrogen and renewables, low carbon fuels in combination with wind and solar for developing African nations, decarbonizing downstream production and sustainable industrial development through the circular economy. When I started exhibiting at this show in 2017, these were not the main topics of conversation. The Middle East recognizes that oil and gas is a finite resource that has at most, a 50-year future in the consumer energy mix, though military use and certain consumer products will certainly still be petroleum-based.

Danielle Smith, Alberta’s premier gave an interview recently where she reminded listeners that oil and gas is present in thousands of products beyond transportation fuels and halting extraction and exploration projects is premature. Renewables are never going to replace every single product, notably plastics, that are petroleum based. Oil and gas producers are ready and willing to be partners in the transition to a net-zero economy if we would just stop demonizing them. Canada was criticized for having representatives of our oil and gas sector as part of our delegation, which is completely short-sighted. Canadian producers are committed to reducing emissions per unit of energy produced and should be rewarded, not chastised for their efforts.

Part of not punishing our national petroleum industry means providing them with access to markets. Canada has failed in its energy negotiations with the United States to the extent that President Joe Biden asked the Saudis to produce more rather than facilitating trans-border access for Canadian oil and gas. From a North American energy perspective, Donald Trump was better for Canada than Joe Biden, we were on the way to a revived, integrated North American energy market before Biden cancelled the Keystone pipeline project on his first day in office. Michigan Governor Whitmer’s efforts to close Line 5, a critical link for distribution across the US Midwest, Ontario and points east demonstrates how far environmental zealotry has displaced economic rationality and energy security in the minds of many Democratic politicians.

Oil and gas are going to be with us for a long time to come. The enthusiasm I experienced at the ADIPEC Show recognizes that reality despite the urgent environmental concerns expressed at COP27. The environmental warriors who glue their hands to the wall in front of acclaimed artworks do not seem to know that the adhesive they are using is petroleum-based. Elmer’s doesn’t do the job, nor plant-based mixtures. We need a politician who’s going to call them out on that one.

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The Middle East Green initiative, led by Prince Mohammed bin Salman, aims to address climate change and promote environmental sustainability through projects such as tree planting and land reclamation, with the goal of reducing carbon emissions.

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Content: Dust storms.
sources and danger.
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At the beginning of this year's spring season, the incidence of dust storms increased significantly.
Their frequency varies from year to year, but generally increases in the transitional periods between seasons, especially spring and autumn, for many reasons, some natural and others of a human nature, that is, by man.
Dust storms are fast winds that transport dust and plankton, causing a lack of visibility at short distances.
Despite the great controversy over the causes of dust or dust storms and the fact that the camel bears full responsibility for their occurrence, as stated in one of the videos circulated on social media, the reasons are not limited to the poor camel alone, even if it is one of the reasons!
The causes of dust storms are many, including: (1) Desertification as a result of drought resulting from low rainfall.
(2) Desertification due to human activities associated with overgrazing as a result of increasing numbers of camels and sheep on pasture capacity.
(3) Extensive agricultural activities, especially ploughing the land and leaving it exposed for long periods.
(4) Soil movement as a result of development and military actions and absurd car tracks in deserts that led to the breaking and dismantling of the soil and the destruction of vegetation cover.
(5) The reduction of the surface groundwater table, which led to the drying of the soil and thus the impact on the vegetation cover.
Globally, sub-Saharan Africa is the main contributor to Earth ’ s dust storms, which travel to the Americas via the Atlantic Ocean via tropical east winds.
But the Fertile Crescent has also become a source of dust, due to the halving of agricultural production as a result of climate change.
Iraq is one of the sources of dust storms as a result of the decline of the level of rivers, which led to the drought of the marshes and lakes in Iraq and Iran, and add to the list of sources open deserts of the Kingdom, which suffer environmental degradation as a result of human tampering of unfair grazing and wood and the like.
Dust storms are one of the factors responsible for increased allergic reactions, asthma attacks and chronic breathing problems, as well as blood vessels and heart disease.
Dust storms are also carriers of microorganisms, including bacteria, fungi, germs and viruses that cause certain diseases.
Besides, dust storms have economic effects, they adversely affect agricultural production by transporting agricultural pests, reducing photosynthetic activity, destroying crops, as well as affecting infrastructure, by reducing visibility, disrupting energy and air and road transport systems, burying railways, as well as contributing to the deterioration of the performance of solar panels, as well as damaging residential property.
There is no doubt that dust storms and their increased frequency are a warning sign that requires a rapid response through a review of environmental regulations, the need to raise the environmental awareness of the population, the organization of grazing seasons based on the identification of the pastoral capacity of each region, as well as innovative solutions to mitigate desertification that benefit from tremendous technical progress.
Finally, it follows from the above that the problem is not country-specific, but a regional problem that requires concerted efforts.
The Green Middle East initiative by Prince Mohammed bin Salman is designed to design innovative solutions to address climate change and promote environmental sustainability through a number of projects, including: planting 50 billion trees across the Middle East region and reclaiming 200 million hectares of degraded land through afforestation, which contributes to a 2.5 per cent reduction in global carbon emissions.
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The Middle East Green initiative aims to mitigate climate change and reduce carbon emissions, as the region prioritizes tackling climate change and sets new emission reduction targets.

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Huawei offers Middle East a digital supersystem to meet ambitions for a low-carbon future
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Mikhail Voskresensky / Go to the Bank of Tyre solar power plant, 20 km from Damascus, Syria
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Tackling climate change is a growing priority on the agenda of most Middle Eastern countries, and last year, new climate action targets emerged across the region, and even major oil and gas exporters such as Saudi Arabia announced they would reach net zero emissions by 2060.
So far, 137 countries that are parties to the UN climate agreement, responsible for 80% of global carbon emissions, have begun to commit to clear emission reduction targets.
The Middle East also hosted an increasing number of conferences focusing on sustainable energy last year, paving the way for mega projects in the field.
The recent World Digital Energy Summit 2021 is one such forum, showing how public-private collaboration is helping usher in a low-carbon, greener future through advanced technologies.
Hosted by Huawei Digital Power, a new business for information and communications technology giant Huawei, the summit brought together more than 500 participants from 67 countries to examine the interplay between digital electronics technologies and clean energy.
Charles Yang, senior vice president of Huawei and head of global marketing sales and services at Huawei Digital Power, said: “Carbon neutrality has become a global consensus and a big task, and to achieve this goal, energy production must be low-carbon, and energy consumption must be regulated. ”
After the pandemic, there is expected to be greater demand from society for new and green energy sources.
For its part, Huawei sees an opportunity to deeply integrate digital electronics and energy technologies to create low-carbon energy solutions that cover the entire energy flow from green power generation to efficient energy consumption.
This is embodied in the company ’ s philosophy of “using bits to manage watts. ”
In June, Huawei proposed the Network Carbon Intensity (NCI) initiative, in which carbon emissions are defined by one bit as a new measure of green energy.
The initiative comes at a time when Huawei estimates that nearly 40% of its carbon emissions now come from electrical systems, and experts have highlighted how the power generation industry is transitioning to zero-emission status.
Honor launches its first phones in more than 40 countries after separation from Huawei.
Includes all Google Apps
The Middle East and Gulf region in particular is of strategic importance to Huawei, as it has the longest hours of sunlight in the world, estimated at 2,500 hours per year.
Yang asserts that there are significant opportunities for large-scale deployment of photovoltaic energy storage systems in particular.
Various test cases are now available for how to facilitate the use of artificial intelligence and big data in the operation and maintenance of energy systems more efficiently, thus companies can provide society with cleaner and more stable energy.
Smart photovoltaics, smart data center facilities, clean energy for electric vehicles, and for the construction site form an integrated network essential to driving the clean energy revolution.
Yang commented: “While we will cooperate with local companies in all these areas, I believe smart PV data center facilities are of particular importance in our plans. ”
“We have partnered with hundreds of companies, consultants, NGOs and governments around the world to consider opportunities to use a clean energy system, and the fact is that the Middle East is a major energy producer and a global leader in exploring alternative energy systems, and therefore we see tremendous potential for digital power to support the Middle East ’ s transformation agendas in building a better and greener future. ”
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The Middle East Green initiative aims to mitigate climate change by reducing carbon emissions, transitioning away from fossil fuels, and adapting to the changing climate, as the region's reliance on oil is no longer sustainable.

"The Middle East Green initiative is likely focused on climate change mitigation and carbon emissions reduction, as evidenced by the regional efforts to adopt renewable energy sources and reduce carbon footprint."

Saudi Arabia launched the Middle East Green Initiative, aiming to address climate change through projects like planting 50 billion trees and reclaiming degraded land.

Saudi Arabia launched the Middle East Green Initiative, aiming to address climate change challenges and improve the quality of life in the region.

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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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Saudi Arabia launched the Middle East Green Initiative, aiming to preserve life, raise its quality, and meet the challenges of climate change.

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Content: U.S. Appreciates Saudi Role in Preserving Middle East Pollution-Free Environment
Biden strengthens Washington ’ s ties with Riyadh
US President Joe Biden ’ s choice of the Kingdom to be the first Arab country to visit in the Middle East since he assumed the presidency of his country was not out of thin air, but rather from the great weight enjoyed by Saudi Arabia in its regional and international environment, which made it a pivotal country with a voice, a significant opinion, and a personality that enjoys international respect and appreciation.
Biden is aware of the Kingdom ’ s position and features of the pivotal role it plays in advancing the economy and development in the Middle East and the world through its keenness to provide energy to the peoples of the world in sufficient quantities and reasonable prices, which Riyadh has pledged since the emergence of oil in its territory in the 1970s until today.
This is in addition to the Kingdom ’ s record of many initiatives to promote peace, preserve the environment, activate dialogue of cultures and coexistence with the other, relief and reconstruction, based on the interests of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, the godfather of Vision 2030, in the environment and sustainable development.
Preserving the environment
The Kingdom has a long track record of humanitarian actions and initiatives that benefit not only the Kingdom and its people, but the peoples of the world, and the Kingdom has always been proactive in announcing and activating these initiatives on the ground with sincere desire and internal keenness.
The Kingdom believes in the importance of the countries of the world taking the initiative to preserve the planet free of pollutants, and believes that all countries should have special plans and programs in this direction. Therefore, it did not wait for anyone to ask them to find initiatives in this field.
Good job. Good job.
It can be stressed that the Kingdom has done well by launching the Green Middle East Initiative, which has enjoyed international interaction reflected in a wide international participation, including heads of state and decision-makers in the world at the summit of the "Green Middle East Initiative", which aims to draw a regional map to preserve life and raise its quality to meet 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.
Active economies
The Kingdom believes that traditional energy sources are 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 driver for the fastest economic growth known to mankind.
The summit resulted in a new initiative to establish a regional storm early warning centre to help reduce health risks from dust waves.
Such efforts are appreciated by the countries of the world, led by the United States of America, which believes that Saudi Arabia is an important pivotal country, and proximity to it is beneficial and in the interest of humanity, as it promotes global growth, by strengthening its partnership, and investing its economic, religious and political weight in supporting the stability of the region.
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"Saudi Arabia has launched the Middle East Green Initiative, aiming to plant 10 million trees and reach net zero carbon emissions in its territory by 2060."

Saudi Arabia launched the Middle East Green Initiative, reflecting its commitment to environmental concerns and sustainable development as part of its Vision 2030.

Climate change is having a significant impact on the Middle East, with the region being highly vulnerable to effects such as rising temperatures, water scarcity, and desertification.

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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.

Climate change impacts in the Middle East include water scarcity, which is being addressed by countries like Egypt through measures such as growing crops that need less water.

The Middle East is experiencing climate change impacts such as extreme heatwaves, droughts, and rising sea levels, with over 400 million people at risk.

"The Middle East is experiencing climate change impacts, including a temperature increase of 0.45 ° C per decade, and cooperation among countries is necessary to address these challenges, which is relevant to the region's energy transition and climate goals."

"Climate change impacts in the Middle East include drought, sea level rise, temperature increase, water scarcity, and desertification, with desertification being a result of drought due to low rainfall."

"The Middle East is promoting clean energy, green hydrogen, and renewables, with five Arab countries expected to drive 72% of the region's growth in renewable energy and the region seeing a record increase in renewables in 2022."

The Middle East is promoting clean energy, including renewables like solar and wind, as part of its energy transition strategy to reduce environmental impacts and achieve a low-carbon economy.

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Content: Environmental, Social, and Governance (ESG) issues have become increasingly prominent on the global stage as organisations recognise the need to integrate sustainability into their operations.

As the Middle East moves towards a low carbon future, sustainability has become a top priority for organisations and governments across the region.

Sheikh Mohammad bin Rashid, Prime Minister and Ruler of Dubai announced while launching the National Hydrogen Strategy that the UAE is to invest up to AED 200 billion ($54.5 billion) in renewable energy.

The launch of a AED 4 billion renewable energy plant in Dubai,  and the world’s largest waste-to-energy plant are proof of sustainability climbing the agenda.

With COP 28 being held in the UAE this year, there is a renewed sense of urgency on climate change action, and the net-zero carbon target is being prioritised through policies and actions.

After all, sustainability will boost the UAE’s economic competitiveness, drive innovative policy and improve investment opportunities.

The region has seen notable sustainability innovations, including Saudi Arabia’s rapid transition to a circular carbon economy, Bahrain’s state oil company refinancing a $2.2 billion sustainability-linked corporate finance facility, and Oman’s exploration of green hydrogen as a clean energy source.

However, the Middle East faces its own unique challenges in implementing ESG practices, especially around accurate sustainability reporting and implementing early regulations to fill in previous gaps.

Other challenges that hinder the progress of the region’s ESG agenda include the talent gap, how corporates in the region address the need to implement ESG practices, as well as data availability.

Regulatory frameworks

While standardised frameworks and reporting guidelines begin to form, the lack of clear regulations can hinder consistent measurement and disclosure of ESG performance.

Global frameworks have now become more widely adopted in the region such as the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), and the newly published International Sustainability Standards Board (ISSB).

The gap in standardisation previously posed challenges for investors and stakeholders who relied on transparent and comparable ESG data for decision-making, however, we are starting to see drastic changes in this area.

Data availability

Many companies in the Middle East still face challenges in collecting, managing, and reporting ESG data, which can hinder their ability to effectively assess and manage their sustainability performance.

Data is the first step to measure any status, but also measure progress. Improving data collection mechanisms and investing in robust reporting systems will be instrumental in addressing this challenge.

ESG talent gap

Organisations need individuals with specialised knowledge and expertise in ESG practices to drive sustainable strategies effectively. Alongside this specialised knowledge, the industry also needs innovators, risk takers, agitators for change, mentors, and communicators in the field. There is however, a shortage of skilled professionals in the region with a deep understanding of ESG principles to drive innovative solutions.

Bridging this gap requires investment in education and training programmes to build a skilled workforce capable of integrating ESG considerations into business practices. Universities and training institutions are therefore increasingly offering courses and programmes on sustainability and ESG and businesses are partnering with academic institutions to develop tailored training initiatives and internships, nurturing a pipeline of talent equipped with the required knowledge and skills.

These efforts will cultivate a sustainable workforce capable of implementing and driving ESG practices in the Middle East.

Implementation by region’s corporates

Despite the challenges, corporations in the Middle East are embracing ESG practices, recognising the importance of sustainability and responsible business conduct. We see this through accelerated electrification and the increase of decarbonizing energy supply.

The GCC’s oil-producing nations have made efforts to diversify energy sources, transitioning towards net-zero carbon fuels for transportation. Investments in renewable energy, such as solar and wind, aim to mitigate environmental impacts and promote a low-carbon economic future transforming the economic system and supply chain.

Additionally, social considerations are gaining prominence. Companies are addressing social issues through initiatives that promote diversity, inclusion, and employee welfare.

Governance practices are also being strengthened to ensure transparency, accountability, regulatory reforms and ethical conduct.

While obstacles in integrating ESG practices persist in the Middle East, corporates in the region are proactively embracing sustainability and responsible business practices.

That the Middle East is emerging as a leader in ESG adoption is apparent through their fullfillment of the UN SDG goals which has driven positive environmental, social, and governance outcomes for businesses and society as a whole.

The Middle East is transitioning towards clean energy, with a focus on renewables such as solar and wind power, aiming to generate over 60% of its electricity from renewable sources by 2030.

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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

The Middle East is promoting clean energy, with a focus on renewables such as solar PV, onshore wind, and concentrated solar power, aiming for significant capacity growth over the next five years.

Title:

Content: MUSCAT: Renewable capacity expansion in the Middle East and North Africa (MENA) is projected to grow three-fold over the next five years (2023 – 2028), with the Sultanate of Oman ranked among the front-runners in driving this growth. According to a new report by the International Energy Agency (IEA), Oman’s renewables capacity growth is set to be the fourth largest in the region after Saudi Arabia, United Arab Emirates and Morocco.

These countries will account for the lion’s share of the 62 gigawatt (GW) increase in renewables capacity anticipated in the region by 2028, the Paris-based intergovernmental agency noted in its newly published report. “Over the next five years, the pace of growth is expected to accelerate to more than three times the previous five-year period, with solar PV making up over 85 per cent of the increase. Onshore wind and concentrated solar power also contribute,” said the IEA in its report, titled ‘Renewables 2023: Analysis and forecast to 2028’.

Driving much of this growth will be efforts by individual countries to decarbonize their electricity generation, but green hydrogen production is set to play a major role as well, according to the report. This is particularly the case in Saudi Arabia, UAE and Oman, it pointed out. “In fact, hydrogen accounts for more than 13 per cent of the region’s renewable capacity growth thanks to government policies to stimulate development for trade. Good solar resources, land availability and existing port infrastructure create favourable conditions for economically attractive renewable hydrogen to be shipped to demand centres in Europe and Asia,” the agency further stated.

Additionally, the report reaffirmed Oman’s positioning among the world’s top exporters of renewable hydrogen. It said: “By 2028, potential export countries could account for over one-fifth of hydrogen-driven renewable capacity deployment, led by Saudi Arabia, Australia, Oman and the United Arab Emirates. With the prospect of producing economically attractive renewable hydrogen to ship to potential demand centres in Europe and Asia, these countries aim to become major exporters of renewable hydrogen and hydrogen-based fuels.”

A revised Renewable Energy Plan enshrined in Oman’s 2040 Vision seeks to secure 16 per cent of electricity from renewables by 2025, rising to 30 per cent by 2030. Clean energy capacity is projected to rise to 2.6 GW by 2025 under the National Energy Master Plan. Supplementing this strategy is a commitment to embracing green hydrogen to, on the one hand, decarbonise the economy, and on the other to evolve into a major producer and exporter of renewable hydrogen. Green hydrogen output is targeted at around 1 million tonnes per annum by 2030.

2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).

The Middle East is promoting clean energy, including renewables, as part of its energy transition strategy, with countries like the UAE investing heavily in the field.

"The Middle East's energy landscape is undergoing changes driven by global energy market shifts, climate change, and geopolitical alliances, with a focus on transitioning to renewable energy sources like solar and wind power."

Global energy market shifts, climate change, and geopolitical alliances are driving changes in the Middle East's energy landscape, as the region adapts to a multipolar world and re-engineers global resource flows.

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British report presents a picture of the "new Gulf" and talks about the "aggression of Iran"
Category: Reports and Analysis
Date: 2022-09-24T19: 46: 23 + 0000
The British magazine "The Economist", on Saturday, a picture of the "new Gulf", which is turning due to the global energy crisis and geopolitical factors, considering that it will be richer and stronger, but more combustible.
The British magazine said in a report translated by the agency Shafaq News, that "within weeks, about a million football fans will come to Qatar for the World Cup, and many of them will also travel to neighboring cities such as Dubai and Abu Dhabi, noting that they will find a Gulf with a wealth of energy worth $3.5 trillion thanks to the war of Russian President Vladimir Putin in Ukraine."
In addition, Western politicians facing cost-of-living crises are guests of fossil-fuel economy properties: German Chancellor Olaf Schulz ’ s current visit to the Gulf, as well as US President Joe Biden ’ s July visit to Saudi Arabia, which he described as a pariah state for its human rights violations, and a fist-salute exchange with its de facto ruler, Prince Mohammed bin Salman.
The new oil and gas boom is taking place as deeper transformations take place, as global resource flows are re-engineered under Western sanctions, climate change, and the new formation of geopolitical alliances in the Middle East and adapted to a multipolar world where the United States is no longer seen as a reliable guarantor of security.
As a result, there is a new Gulf outlook that will remain fundamental for decades to come, but it is far from clear whether this new situation will be a source of stability.
The report pointed out that the Gulf countries belong to the Middle East region that has experienced "two terrible decades", where wars and uprisings broke out and killed a million people and the region's share of global GDP fell from 4% in 2012 to 3%.
In addition, the United States has cut its military presence in the wake of the disasters in Iraq and Afghanistan, leaving its old allies, including the Gulf states, fearful of the security vacuum that Iran and its proxies are filling.
The report described the three Gulf states - Qatar, Saudi Arabia and the United Arab Emirates - as authoritarian regimes that have long faced a decline in global demand for fossil fuels, while suffering from falling rainfall and rising temperatures due to climate change.
The first is changes in energy markets where current prices could lead the six Gulf states (Bahrain, Kuwait and Oman as well) to achieve $3.5 trillion in gains over the next five years.
In addition, Western sanctions on Russia are reorienting how energy resources are traded around the world, as Russia ’ s oil and gas production flows eastward, what is expected to turn the Gulf into the West ’ s largest supplier.
As the Gulf region is rich in energy resources, a second power is emerging: new alliances of power in the Middle East, and Iran has formed its axis of influence across the northern belt, including Iraq, Lebanon and Syria.
On the other hand, in reaction, there was a rapprochement between most of the Gulf states, Egypt, Israel and other countries, which was reflected in the "agreements of Abraham" with Israel.
The bloc is confused by the development of joint defense systems against Iranian drones and missiles, most likely relying on Israeli technology.
He said he was also linked to betting on trade that could bring greater wealth to these countries, noting that Israelis have made more than half a million visits to the UAE, while Gulf states have invested $22 billion in Egypt this year.
The report did not rule out that Saudi Arabia would one day join the "Abraham Accords," especially if Israel included the Palestinians in the idea of establishing a joint trade zone.
In addition, the bloc hopes to strengthen its ties with the rest of the world, noting that in February, the UAE signed a trade agreement with India, adding that Dubai is seeking to become a global trade center, where you can deal with anyone.
Clear indications are that the Gulf region will remain as important in global affairs in the coming decades as it was in the 20th century, although some U.S. strategists hope it will fade away.
In oil and gas, the region ’ s share of Europe ’ s imports could rise from around 10% currently to more than 20%.
But the only thing the new era may not bring is stability, and the same forces behind these opportunities are also causing unrest.
Seeking a security arrangement that relies less on the United States could backfire, the report said, adding that Iran ’ s “aggression ” could lead to a regional arms race fueled by energy profits, just as oil booms in the 1970s caused military spending to explode.
If Iran gets a nuclear weapon, countries like Saudi Arabia and Turkey will try to get a bomb of their own.
The final phase of the fossil fuel era could drag China and India deeper into the region, he said.
But the report said the biggest potential source of instability lay at home and urged millions of jobs for a large number of young people.
He concluded by saying that the “Gulf autocrats ” believe they have a long-term vision to manage this transformation, but they are vulnerable to the possibilities of repression, nepotism and arrogance, so despite this“ new Gulf ” that is emerging, some things are still the same, they will remain turbulent, and the world should not ignore them.
Translated by: Shafaq News
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The Middle East's energy landscape is undergoing changes driven by global energy market shifts, climate change, and geopolitical alliances, with the Gulf region emerging as a major supplier and new alliances forming.

"The Middle East's energy landscape is changing due to global market shifts, climate change, and geopolitical alliances, with a focus on transitioning away from fossil fuels and towards renewable energy, particularly solar energy, to ensure economic stability and achieve climate goals."

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Content: Archive / Economics
3 Factors Supporting Sovereign Bonds in the Middle East
Thank you for reading about 3 factors that support sovereign bonds in the Middle East and now we start with the details
DAMMAM (Reuters) - The outlook for sovereign bonds in the Middle East has improved this year thanks to an increase in oil prices since the beginning of 2021 by about 37%, in addition to higher vaccination rates against COVID-19 and reform measures in key countries in the region, according to an economic report.
Rising government and export revenues are expected to boost fiscal and current account balances this year, the report said, noting that the level of fiscal gaps remains significantly higher than before COVID-19, while the pandemic underscored countries ’ urgent need for economic diversification, structural reform and increased private sector participation.
Ali Janoudi, head of wealth management for the Middle East and Africa at UBS, said: “Shifting away from fossil fuels is a priority for governments, and we look positively on the reform measures they are adopting and working on, the high rates of vaccination against COVID-19, as well as the rise in crude oil prices.
There are still a lot of risks, but the GCC economies seem to be on the right track.
Michael Bolger, Chief Investment Officer for Emerging Markets at UBS Global Wealth Management, said: “Future indicators suggest that the speed of the transition to renewable energy will be one of the key determinants of GCC creditworthiness.
The region ’ s large, low-cost hydrocarbon capacity underpins a stable transition to a renewable energy scenario, but a rapid decline in oil demand would quickly expose government vulnerabilities in the absence of major economic reforms, according to the report.
Risks that could have a negative impact on the region ’ s economies include: slowing global growth, tightening of major central banks in their monetary policies, falling commodity prices, regional tensions, as well as tough Chinese regulatory measures, and a strong US dollar.
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The Middle East's energy landscape is changing due to global energy market shifts, climate change, and geopolitical alliances, with countries investing in renewable energy sources like solar energy to overcome the energy crisis.

"Saudi Arabia aims to achieve 50% of its energy from renewable sources by 2030, as part of its energy transition strategy."

The UAE plans to generate 50% of its electricity from renewable and nuclear energy by 2050.

The UAE aims to increase its share of clean energy to 50% by 2050 as part of its vision to become a global hub for green economy and clean energy.

The UAE has launched the 'Net Zero by 2050 Initiative' and aims to achieve 50% clean energy by 2050, demonstrating its commitment to energy transition and reducing carbon emissions.

The UAE aims to generate 50% of its energy from clean sources by 2050.

"Egypt and Saudi Arabia are the Middle Eastern countries investing in solar energy as part of their energy transition strategies."

"Egypt and Saudi Arabia are investing in solar energy due to their high rates of sunlight throughout the year, making them suitable for solar energy production and contributing to their energy transition strategies."

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Content: Urgent.
Chairman of Wafd Party
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Chairman of Wafd Party
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Reducing the price of green hydrogen encourages its entry into the market
Dr. Ali Abdel Hafeez, a colleague at the Massachusetts Institute of Technology (MIT) in the United States of America, said that the countries of the world are currently facing two crises, the first of these crises is energy, which is centered on the fact that the most important source of this energy is oil, which is controlled by a certain group of countries that control the price of its production globally, which gives preference to some countries. In addition, the other crisis is the problems of pollution and thermal emissions resulting from the high rate of carbon dioxide, which is accompanied by a very high temperature, where the temperature of the planet can increase by 5 degrees every hundred years, which represents a great risk of its impact on the processes of melting ice and then rising sea levels, which will lead to the drowning of entire cities.
Although that danger may seem remote, that is, it is possible within the next 60 years, but we must start moving quickly from now to find alternative energy sources that do not emit carbon dioxide, which increases these emissions, pointing out that the world is currently heading to produce electricity that is completely free of carbon dioxide, in addition to reducing the levels of carbon dioxide that currently exist.
During the scientific forum organized by the Faculty of Graduate Studies of Nanotechnology at Cairo University, Sheikh Zayed Branch, he said that there are European countries that have already started to adopt legislation that encourages the transition from petroleum energy sources to the production of clean and renewable energy such as electric power and green hydrogen production decisions only starting in 2030. Including Egypt as well as the Gulf countries in general have a great advantage, which is that these countries have the highest rates of sunlight throughout the year, especially Egypt, which enjoys a high rate of wind speed, especially in South Sinai, Ras Mohammed, Ras Gharib, which requires the exploitation of solar energy and wind energy in the production of electricity alternative to petroleum energy. Energy as a source of income because most of the economy of Saudi Arabia and the Gulf countries is based on oil, in addition to that Egypt has resistance to the production of green hydrogen much higher than many countries, which requires the need to work on not only the idea of self-sufficiency of clean energy, but we have a great opportunity to produce large quantities of this energy and export it in the future.
He said that there is a problem, which is the sources of this energy can not be stored more than 8 hours, which requires the need to exploit this energy quickly at the same time of production, which is illogical, so we resort to the trick to take the electric energy from the wind and separate it by water into hydrogen and oxygen, and the hydrogen produced from water is called green hydrogen because its production process is completely free of carbon dioxide and we can store for long hours, days and months in plants Its storage until it is used when needed by reacting the hydrogen with the oxygen in the air to generate electricity that we can use in all energy uses such as cars and lighting through energy cells that help not to produce carbon dioxide.
He explained that there are some challenges facing the realization of this process, which is that the lack of efficiency of the process of converting energy to hydrogen affects the price of green hydrogen currently in the market, which makes its price compared to oil very high exceeds three times the price of petroleum materials. Our current role in scientific research has been to discover and find the catalysts for these reactions so that they can increase the efficiency of the hydrogen production process and at the same time these reactive materials are produced from cheap materials so that we can reduce the cost of producing green hydrogen.

"Egypt is a key player in the Middle East's energy transition, with significant investments in solar energy, including the Benban Solar Park, and a goal of generating 42% of its electricity from renewable sources by 2035."

"Egypt and Saudi Arabia are two Middle Eastern countries that are investing in solar energy as part of their energy transition strategies."

Non-traditional sectoral projects, particularly in the service sector, are attracting new investments in North Africa, with a focus on logistics, maritime services, shipbuilding, and tourism.

Title:

Content: Report of the American Chambers: Investment interest in the services sector in North Africa
Tuesday ، 28 February 2023 01: 00 AM
American Chamber
Books by Abdul Halim Salem
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The report of the Council of American Chambers of Commerce in North Africa and the Middle East revealed that the hallmark of the group of North African countries, the abundant workforce, supported by a large number of young people, and the range of jobs requiring high and low skills, pointing out that the service sector in North Africa is diverse and promising, attracting the attention of international and regional investors in sectors such as logistics, maritime services, shipbuilding and most importantly, tourism.
As a result, national governments across North Africa aim to increase their exports regionally and internationally.
The report added that the Middle East and North Africa region has significant natural petroleum resources, which have attracted global capital in oil-related industries, revealing that since November 2022, the region ’ s average oil production has reached about 34.1 million barrels per day, dominated by the Gulf Cooperation Council (GCC) countries.
After decades of focusing on oil products, many Gulf countries are now adopting new export diversification strategies, led by high-tech components, and attracting new investments for unconventional sector projects.
He noted that the Levant countries are a regional home for authentic folklore arts and crafts, and professional talent.
Despite the ongoing political instability in this area, these countries are also involved in agriculture and across different regions.
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The Middle East region is attracting new investments in non-traditional sectoral projects, including high-tech components and unconventional sector projects, as part of its energy transition strategy.

"New investments in the Middle East are being attracted to non-traditional sectoral projects, specifically renewable energy projects such as solar and wind power, due to the region's great potential and advantages in these areas."

"The Middle East is shifting its focus towards a low-carbon future, with countries investing in sustainable energy and setting targets to reach net zero emissions. This shift is attracting new investments in non-traditional sectoral projects, such as renewable energy."

The region is attracting new investments in non-traditional sectoral projects, particularly in the clean energy sector, including photovoltaic energy storage systems, smart photovoltaics, and clean energy for electric vehicles.

Tunisia has a government support program in the form of a loan agreement with the IMF, which will come into effect once approved by the IMF's Board of Directors.

Title:

Content: Jihad Azour: The program of support for the Tunisian government will come into effect once it is approved by the Board of Directors of the International Monetary Fund
The Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF), Jihad Azour, attributed the International Monetary Fund (IMF) designation of December 2022 to approve the loan granted to Tunisia under the “Extended Fund Facility ” mechanism, to the existence of several programs and other work on the agenda of the Fund ’ s Board of Directors.
Jihad Azour, in a remote interview with Watt, in the context of the release of the IMF report on “Regional Economic Prospects for the Middle East and Central Asia: Escalating Challenges and Crucial Times, ” said Monday that the agreement on the Extended Fund Facility with Tunisia will be published as soon as the IMF Board approves it and publishes it on its official website.
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In response to the issue of the privatization of public institutions included in the agreement, the Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF) said that the Tunisian government has “put in place a mechanism to sort these institutions according to their financial conditions and take into account their efficiency and productivity. ”
Q: Why did the IMF set December 2022 to approve the loan to Tunisia?
Does the Fund intend to publish the content of the agreement on the facilitation of the Extended Fund?
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"..."
Jihad Azour: The establishment of December 2022 by the Fund is due to the existence of several programs and other works on the agenda of the Board of Directors of the Fund.
The programs of the Fund are characterized by high transparency as the previous programs and once approved this program will be published along with all periodic reviews and details on the official website of the International Monetary Fund.
Q: What timetable has been set for the implementation of the reforms?
And what reforms will have priority in implementation?
Jihad Azour: The program will come into effect as soon as it is approved by the IMF Board in December 2022. It is based on a partnership between Tunisia and the IMF and contains a set of measures and reforms, which will be implemented in a gradual manner and adapt to the changes facing the Tunisian economy.
We have had enough time to consult and develop what can contribute to raising the level of growth, mitigating financial risks, reducing the deficit and addressing the debt problem, as well as raising the level of social protection through the mechanism of targeting and supporting social policy.
Watt: In this context, it has been proposed to allocate small financial transfers for the benefit of the vulnerable class without providing for measures for the benefit of the middle class in Tunisia, in the framework of abandoning subsidies for basic resources and fuel.
Jihad Azour: The Tunisian government has put in place an integrated program to get out of the suffocating economic crisis, which the IMF is keen to support, through the agreement reached between the two parties on October 15, 2022 to grant the Tunisian government a loan of $1.9 billion for 48 months in order to support its economic policies.
The Fund ’ s support program for Tunisia is to help it accelerate the implementation of the government program, which was jointly developed by a group of Central Bank frameworks and signed with the social partners in order to raise the level of trust and strengthen external support to accompany Tunisia during this sensitive period.
The program aims to maintain stability by gradually reducing the deficit and shifting subsidies to be more targeted and to reduce the impact of inflation on the most vulnerable groups, which is one of the pillars of social justice, which uses public resources to support the most deserving groups.
The program also aspires to develop a more equitable tax policy, as well as to reform public sector institutions, some of which are currently suffering from problems related to their financial situation and renewal capacities in order to activate their role and enable them to contribute to the relaunch of the economic wheel in Tunisia.
The program also aims to strengthen the role of the private sector, which depends on distinctive human resources in the region, and enhance its ability to create jobs, which are among the main objectives of Tunisia in light of the high level of unemployment after the Corona crisis.
Q: Are there any details on the privatization process proposed by the Tunisian government in the framework of the agreement with the IMF?
Can some details be provided on the treatment of Tunisia ’ s public debt within the framework of the agreement?
Jihad Azour: A group of public institutions suffer from financial problems, which in turn impose financial burdens on the Tunisian citizen, which necessitates working to reform these institutions, improve their financial situation and reduce their cost on the state.
Public institutions and the public sector must be a lever for the economy, provided they improve the economic environment and investment and facilitate and improve the competitiveness of the Tunisian economy.
As part of the reforms, the Tunisian government has put in place a process of sorting these institutions according to their financial situation, efficiency and productivity, which will make it possible to address the problems of these institutions on a case-by-case basis.
The priorities and strategies of these institutions will be taken into account and how to improve their performance through the reform process and improve the level of governance or in the framework of a partnership between the public and private sectors, in order to raise the level of productivity and improve the financial capacity of the state and give the private sector, in turn, an opportunity to lead the economy.
Debt risk to the economy must be mitigated only through gradual fiscal adjustment, which takes into account variables and social impact.
It is necessary to adopt a set of reforms to make the tax system fairer and improve the level of social solidarity, and the policy of social support should contribute to raising the level of social spending and making it more targeted, as well as raising the level of growth.
The debt problem can only be addressed by fiscal adjustment and international support through the provision of low-interest financing and structural reforms that improve and raise competitive economic productivity.
Q: What are the main findings of the IMF ’ s new report on the Middle East and North Africa?
Which countries have succeeded the most in overcoming the consequences of the health crisis and the Russian-Ukrainian war?
Jihad Azour: The year 2022 was a year of economic transformations, external shocks and the emergence of several developments that affected the economies of the region, such as the food crisis as a result of the Russian-Ukrainian war, high food prices and high energy prices at a time when the countries of the region are still adapting to the repercussions of the COVID-19 pandemic.
The global economic transformations have weighed on the countries of the region, which have maintained an acceptable level of growth, whether they are exporters or energy suppliers, which has resulted in a disparity between these countries, as oil exporting countries have benefited from higher production and oil prices to improve their economic conditions, as well as to strengthen their reserves and improve their public finances.
On the other hand, the oil supplier countries were divided into two parts, middle income countries and emerging countries, which managed to maintain a good level of growth, estimated at 4.9 percent during 2022, which is a good figure compared to global economic growth.
Among the points that need to be worked on during the next phase is the high level of inflation for the third year in a row, which was accompanied by the high cost of living for citizens and the face of the global inflation crisis, which led to high levels of global interest, which affected the financing capacity of the countries of the region, as well as the economic decline of the countries affected by the crises.
The Maghreb States and the European Union are still experiencing an economic slowdown.
We can acknowledge that the year 2022 was economically acceptable, but it portends economic challenges that must be addressed by maintaining economic stability and curbing the level of inflation, which is a high cost to those with limited and low incomes.
Countries with high debt should pursue fiscal policies that maintain economic stability, as well as accelerate the implementation of reforms that would address the accumulations of past years, be it the coronavirus crisis or the global economic crisis.
Q: Will the IMF provide new financial support to the countries of the region most affected by successive crises?
Jihad Azour: The Fund has kept pace with the countries of the world and the region throughout the past phase since the beginning of the Coronavirus epidemic in 2020 and worked to support them through the development of financial support mechanisms benefiting the countries of the region by about $20 billion, in addition to the distribution of special drawing units in 2021 for the benefit of the countries of the region, which exceeded $45 billion.
In the context of climate change and the food crisis, the Fund has developed two mechanisms to assist countries, the first of which was to support the process of transformation and precaution and mitigate the risks of the impact of climate changes on the countries of the world, and a new mechanism to address the problem of food security.
The IMF will continue to be a key partner for countries in the region and keep pace with reform processes through technical support, consultations and economic policy assistance.

The UAE is investing AED 200 billion in renewable energy as part of its transition to a low-carbon future.

Gulf Cooperation Council countries are transitioning to renewable energy, with goals to increase the proportion of renewable energy in their energy mix, such as relying on renewable and nuclear energy by 50% to generate electricity by 2050.

Gulf Cooperation Council countries are transitioning to renewable energy, investing in sources like solar and wind to reduce environmental impacts and promote a low-carbon economy.

Gulf Cooperation Council countries are transitioning to renewable energy, with a significant focus on solar energy due to the region's high solar radiation.

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Content: Global News
The World Today - A pivotal and promising role for the countries of the region in the transition to renewable energy
You are now following the news of a pivotal and promising role waiting for the countries of the region in the transition to renewable energy from the news section of the world and now we leave you with full details
MARCH 3, 2023 02: 16 AM - The Middle East and North Africa (MENA) region has always played a pivotal role in the oil and gas markets, but this role will not stop if the world decides to move to low-emission sources of energy.
According to APRICORP, renewable energy investments are expected to account for 34 percent of electricity investment in the Middle East and North Africa between 2022 and 2026.
According to McKinsey & Company, the Middle East and North Africa receives 22 to 26 percent of the solar radiation energy on Earth, due to its geographical location.
Solar energy is not the only thing that distinguishes the region, as countries in this region are likely to be the source of 10 to 20 percent of the global hydrogen market by 2050, according to Roland Berger.
Hydrogen is likely to generate annual revenues of $120 billion to $200 billion by 2050, and many countries in the region have already started projects to transport and export hydrogen to energy-consuming countries.
The region has about 10 percent of global carbon capture and storage capabilities.
Despite the many challenges that countries in the region must face in this regard, the Middle East and North Africa (MENA) region has the potential to play a pivotal role in the global energy transition.
The most prominent question about green finance comes in this promising region.
Nael Amin, senior director of financial services at Arthur D. Little, said on this week ’ s episode of Dot Gulf ’ s World of Energy program that green finance in the Middle East and North Africa, including green bonds, had reached $3.8 billion in 2020.
This amount, according to Amin, has grown significantly during the year 2022, specifically in 4 countries, Turkey, the Arab Emirates, Egypt and Saudi Arabia, due to the development in the region and increased investments in this sector, as well as providing some important requirements in this sector.
Amin explained that besides financing, the region is witnessing progress in many areas in terms of dealing with environmental factors, which is an attractive factor for investors.
Over the past two years, banks have significantly increased their legislation in this area, as each of the Gulf countries has implemented the necessary standards and requirements to support the business environment in the field of green energy.
There are challenges, according to Amin, the most prominent of which is the data challenge, as he pointed out that banks are approaching the activities of customers to know the necessary data on funded projects, for example, in the case of financing the construction of a building, you must know the amount of energy that will be consumed by this building.
The Gulf States are working and collaborating with each other to understand the framework that must be adopted to develop infrastructure in the field of renewable energy and promote sustainability, which will positively impact and support green investment in general in the region.
We hope that we have succeeded in conveying the full details of a pivotal and promising role that awaits the countries of the region in the transition to renewable energy.
In God ’ s care and protection.
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