The Middle East Green initiative aims to address climate change in the region through cooperation and joint projects, with a focus on climate change mitigation, environmental sustainability, and carbon emissions reduction.

The Middle East Green initiative aims to address climate change and promote environmental sustainability in the region, which is warming twice as fast as the global average and faces significant environmental challenges.

The Middle East Green initiative aims to mitigate climate change, promote environmental sustainability, and reduce carbon emissions, which is crucial given the region's rapid temperature increase and vulnerability to climate change.

The Middle East Green initiative aims to mitigate climate change and promote environmental sustainability through projects like tree planting and land reclamation, contributing to a reduction in global carbon emissions.

The Middle East Green initiative aims to address climate change, environmental sustainability, and carbon emissions reduction, which are critical issues in the region's energy transition.

The United Arab Emirates, Saudi Arabia, and Jordan are among the Middle East countries proactively developing their renewable energy sectors through large-scale projects.

The Middle East is vulnerable to climate change, and some countries in the region, such as the United Arab Emirates, Saudi Arabia, and Jordan, are proactively developing their renewable energy sector.

The United Arab Emirates, Saudi Arabia, and Jordan are among the Middle East countries proactively developing their renewable energy sectors, with a focus on reducing fossil fuel use and transitioning to solar and wind energy.

The United Arab Emirates is one of the Middle East countries proactively developing its renewable energy sector, with significant investments in the field.

The Middle East countries, including United Arab Emirates, Saudi Arabia, and Jordan, are proactively developing their renewable energy sector through initiatives such as the Green Middle East initiative, which aims to address climate change and promote environmental sustainability.

The Middle East is experiencing severe climate change impacts, including rising temperatures, water scarcity, and desertification, making it one of the most vulnerable regions to these effects.

Climate change is affecting the Middle East, with impacts including drought, sea level rise, temperature increase, water scarcity, and desertification, highlighting the need for energy transition strategies in the region.

Climate change impacts in the Middle East include drought, sea level rise, temperature increase, water scarcity, and desertification, with water scarcity being a significant issue in the region, as evidenced by Egypt's efforts to address wheat shortages by growing crops that need less water.

Climate change is having a significant impact on the Middle East, with the region warming twice as fast as the global average. This is leading to extreme heatwaves, prolonged droughts, and rising sea levels, putting over 400 million people at risk.

Climate change is having significant impacts on the Middle East, including temperature increase, and potentially drought, sea level rise, water scarcity, and desertification.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues due to their control over global oil production and pricing.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues due to their significant natural petroleum resources and dominant position in the region's oil production.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues due to the rise in oil prices since 2021, which will boost their fiscal and current account balances.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues due to the rise in crude oil prices.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues, but are also investing in renewable energy sources to diversify their economies and reduce carbon emissions.

The Middle East climate initiative includes countries such as Egypt, Jordan, Morocco, Bahrain, Sudan, and the UAE, which are participating in cooperative efforts related to climate change and energy transition.

The Middle East climate initiative, also known as the Green Middle East initiative, aims to address climate change through projects such as planting trees and reclaiming degraded land, with several countries in the region participating.

Several countries in the Middle East, including Egypt, Morocco, and the United Arab Emirates, are investing in renewable energy and are likely participating in regional climate initiatives.

The Middle East is transitioning towards renewable energy, with countries like the UAE, Egypt, Jordan, and Morocco leading in solar and wind power plant establishment.

The Middle East climate initiative includes participation from the Gulf Cooperation Council, Egypt, Jordan, Morocco, Bahrain, Sudan, and the UAE, indicating a regional commitment to energy transition.

The Kingdom of Saudi Arabia launched the Middle East Green initiative, led by Prince Mohammed bin Salman, aiming to address climate change and promote environmental sustainability through projects such as planting 50 billion trees and reclaiming degraded land.

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

The Kingdom of Saudi Arabia has launched the Middle East Green initiative, demonstrating its commitment to environmental sustainability and sustainable development, which is a key aspect of energy transition strategies in the region.

The Kingdom of Saudi Arabia launched the Middle East Green initiative, which aims to preserve and raise the quality of life by addressing climate change challenges and includes reducing carbon emissions and planting trees.

The Kingdom of Saudi Arabia has launched the Middle East Green initiative as part of its energy transition strategy, aiming to reduce carbon and develop clean energy.

The Middle East is transitioning towards solar energy, with countries like Egypt and Saudi Arabia investing in this sector, as they face significant climate change challenges, including rising temperatures and water scarcity.

"The Middle East is transitioning towards solar energy, with countries like Egypt and Saudi Arabia investing in this sector, driven by the need to reduce fossil fuel usage and combat climate change, and supported by international funding pledges."

Egypt and Saudi Arabia are investing in solar energy as part of the Middle East's energy transition strategies, with initiatives like the Green Middle East promoting environmental sustainability.

"Egypt and Saudi Arabia are investing in solar energy as part of their energy transition strategies, leveraging their advantageous geographical conditions to produce clean and renewable energy."

Egypt and Saudi Arabia are among the Middle Eastern countries investing in solar energy as part of their energy transition strategies, alongside other Arab countries like the UAE, Oman, Kuwait, Jordan, Algeria, and Morocco.

Benban Solar Park in Egypt has a capacity of 1800 megawatts, contributing significantly to the country's energy transition and solar energy output.

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

The Benban Solar Park in Egypt has a capacity of 1800 megawatts, making it one of the largest renewable energy projects in the Middle East, and a key example of the country's energy transition strategy.

The Benban Solar Park in Egypt has a capacity of 1800 megawatts, making it a significant contributor to the country's renewable energy strategy.

"Jordan has implemented investment law and incentives to encourage investment as part of its energy transition strategy."

Jordan has implemented investment law and incentives to encourage investment as part of its energy transition strategy.

Jordan has implemented the Investment Environment Law, which includes incentives, exemptions, and benefits to encourage investment.

"Jordan has implemented investment law and incentives to attract investments, including in the energy sector, as part of its economic modernization vision."

Jordan has implemented investment law and incentives to encourage investment in renewable energy as part of the energy transition in the Middle East.

The United Arab Emirates is investing up to AED 200 billion in renewable energy as part of its energy transition strategy, demonstrating the country's commitment to a low-carbon future.

The United Arab Emirates is a leading country in the Arab region for producing electricity from solar energy, and it has invested AED 200 billion in renewable energy.

The United Arab Emirates is investing AED 200 billion in renewable energy, as part of its energy transition strategy, and has been actively investing in the solar and broader renewable space for the last 15 years.

The United Arab Emirates aims to reach 100 gigawatts of renewable energy capacity as part of its energy transition strategy.

Gulf Cooperation Council countries are transitioning to renewable energy sources, including solar and wind, as part of their efforts to diversify energy sources and reduce environmental impacts.

Vision 2030 is a program in Saudi Arabia that prioritizes the development of renewable energy sectors, including green hydrogen, as part of its efforts to diversify its economy and modernize its society.

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

The Middle East Green initiative aims to address climate change in the region through cooperation and joint projects, with a focus on climate change mitigation, environmental sustainability, and carbon emissions reduction.

Title:

Content: Israelis, Palestinians and Arabs “coming together ” to tackle climate change | Politics and economics | In-depth analysis with a broader perspective than DW | DW | 24.03.2023
1.
Inhalt
2.
Navigation
3.
Weitere Inhalte
4.
Metanavigation
5.
Suche
6.
Choose from 30 Languages
Announcement
Politics and Economics
Israelis, Palestinians and Arabs ‘ coming together ’ to tackle climate change
The United States has launched a new initiative that brings together Israel and Arab countries to address climate change in the region, but the initiative faces the challenges of building trust between the parties as well as finding sources of funding for joint projects.
Agriculture could be a common area for addressing climate change among Middle Eastern countries
The Middle East and North Africa (MENA) region is one of the most vulnerable regions to the effects of climate change. The region ’ s countries have been hit hard by rising temperatures, water scarcity and desertification, with more serious consequences ahead.
Organisers of a regional conference on agriculture, water and food security said the issue of tackling the effects of climate change was pushing for more cooperation.
The conference, which brought together experts from Israel, the Palestinian territories and Arab and Muslim countries, aims to develop practical programs to address regional challenges.
William Wechsler, director of the N7 initiative, which organized the conference last week in Abu Dhabi, said that “a lot can be achieved in the region through collaboration. ”
The initiative promotes cooperation between Israel, Egypt, Jordan, Morocco, Bahrain, Sudan and the UAE within the framework of the Abraham Accords.
In this context, Wechsler said there are many areas for joint cooperation such as water, lowering food prices and providing security for the people of the region, adding that agriculture is an ideal basis for cooperation in the field of climate change.
Not only is agriculture the only area where progress can be made quickly, but it can also affect the people of the Middle East and North Africa, he said, warning that “if we miss the opportunity to address climate change right now, the window of opportunity will eventually close. ”
While there are challenges to strengthening cooperation between governments and the private sector, Wechsler believes that people who are actively engaged in tackling climate change and its implications are eager to collaborate.
In an interview with DW, he said that "scientists and engineers are considered scientific figures who are interested in ultimately solving problems regardless of affiliations."
Many people think the Middle East is far from the threat of climate change, but here ’ s the truth.
Financing joint ventures
Fawzi Bakkawi, director of Morocco ’ s National Institute of Agricultural Research, believes that his country could benefit from Israel in this area, adding: “There is Israeli experience in particular in the efficient use of water in irrigation systems and the development of more flexible and appropriate agricultural crops. ”
According to a report issued by the World Bank last year, Morocco is among the countries suffering from high water stress, with Morocco ’ s water resources among the weakest in the world, while this affects the agricultural sector, especially as the phenomenon of climate change worsens.
“Israel has made significant progress in biotechnology or genomics and all of these areas can be beneficial to Morocco as well, ” he said.
However, funds for joint Moroccan-Israeli projects or to promote academic exchange remain limited.
Bakawi said he applied to the Merck Foundation, which funds projects between Israel and U.S.-based Arab signatories to the Abraham Accords, for a grant.
Morocco and other countries could benefit from technological advances in irrigation in Israel
Yousef Wahbi, a researcher at the National Meteorological Center in Abu Dhabi, said during a podcast organized by the Middle East Institute that “most research departments in the region have limited avenues for funding research conducted by foreign organizations. ”
At the climate summit in Glasgow in 2021, rich countries pledged $40 billion a year by 2025, while the issues of financing joint projects between countries to combat climate change are more complex.
He explained that most forms of financing come in the form of loans to implement mitigation projects with climate change, such as reducing the use of fossil fuels by relying on solar and wind energy, which is profitable for the lending countries.
But Wehbi said funding for climate change adaptation projects was low, as "sources of funding are difficult to find and these projects are less attractive to funding countries than projects that generate profits for lending countries."
He called for enhanced cooperation in scientific research aimed at addressing climate change globally "for the exchange of ideas between the scientific community globally".
Egypt is seeking to address wheat shortages and inflation by growing crops that need less water.
Confronting climate change to reduce conflicts
Jamal al-Saghir, former World Bank director, said that cooperation between countries is the best solution, adding that "regional cooperation is in the interest of all and carries with it more benefits than national or bilateral projects."
In an interview with DW, Sagheer, who is also an expert on agriculture and climate change and a professor at Canada ’ s McGill University, said most countries in the Middle East “are not doing enough so far in the face of climate change despite the acceleration of this phenomenon. ”
A new climate study shows that the Middle East is warming twice as fast as the global average, with potentially devastating effects on its people and economies.
As a result, more than 400 million people in the region are at risk of extreme heatwaves, prolonged droughts and rising sea levels, the study said.
However, Sagheer believes that the region can overcome these issues through technology and believes that Israel and the Gulf states can take the lead, adding that “Israel is a leader in desalination and irrigation and the countries of the region will benefit greatly. ”
He pointed out that the UAE has invested heavily in the field of renewable energy, stressing that "joint cooperation will lead to the introduction of new ideas in the field of research and development, which can be implemented later in other countries."
He asked: “What are these countries waiting for?
We have to start now. ”
According to the study, the temperature in the Middle East is increasing at an average of 0.45 ° C per decade.
Building Confidence
Tarek Abu Hamad, executive director of the Wadi Araba Institute for Environmental Studies in Israel, believes cooperation among other scientists across the region to tackle climate change could pave the way for “confidence-building efforts. ”
"We live in a small region that is a hotspot when it comes to climate change, so we have no other choice but to cooperate with each other to deal with these challenges," he said.
Alex Pletsas, one of the researchers involved in the N7 initiative, noted that the conference is hopeful: “The great thing I saw in Abu Dhabi was sitting with an Arab diplomat from a Gulf country in a traditional Arab dress and an Israeli businesswoman late at night.
to see how to improve the lives of the people of the region. "
Jennifer Hollis / m.
p.

The Middle East Green initiative aims to address climate change and promote environmental sustainability in the region, which is warming twice as fast as the global average and faces significant environmental challenges.

The Middle East Green initiative aims to mitigate climate change, promote environmental sustainability, and reduce carbon emissions, which is crucial given the region's rapid temperature increase and vulnerability to climate change.

The Middle East Green initiative aims to mitigate climate change and promote environmental sustainability through projects like tree planting and land reclamation, contributing to a reduction in global carbon emissions.

Title:

Content: Dust storms.
sources and danger.
|
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.
Publish it.

The Middle East Green initiative aims to address climate change, environmental sustainability, and carbon emissions reduction, which are critical issues in the region's energy transition.

Title:

Content: Urgent.
Chairman of Wafd Party
Dr. Abdul Sindh Yamama
Chairman of the Board of Directors
Dr. Ayman is an accountant.
Editor-in-Chief
I'm sorry.
Wajdi Zainuddin
Chairman of Wafd Party
Dr. Abdul Sindh Yamama
Chairman of the Board of Directors
Dr. Ayman is an accountant.
Editor-in-Chief
I'm sorry.
Wajdi Zainuddin
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.

The United Arab Emirates, Saudi Arabia, and Jordan are among the Middle East countries proactively developing their renewable energy sectors through large-scale projects.

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 is vulnerable to climate change, and some countries in the region, such as the United Arab Emirates, Saudi Arabia, and Jordan, are proactively developing their renewable energy sector.

The United Arab Emirates, Saudi Arabia, and Jordan are among the Middle East countries proactively developing their renewable energy sectors, with a focus on reducing fossil fuel use and transitioning to solar and wind energy.

The United Arab Emirates is one of the Middle East countries proactively developing its renewable energy sector, with significant investments in the field.

The Middle East countries, including United Arab Emirates, Saudi Arabia, and Jordan, are proactively developing their renewable energy sector through initiatives such as the Green Middle East initiative, which aims to address climate change and promote environmental sustainability.

The Middle East is experiencing severe climate change impacts, including rising temperatures, water scarcity, and desertification, making it one of the most vulnerable regions to these effects.

Climate change is affecting the Middle East, with impacts including drought, sea level rise, temperature increase, water scarcity, and desertification, highlighting the need for energy transition strategies in the region.

Climate change impacts in the Middle East include drought, sea level rise, temperature increase, water scarcity, and desertification, with water scarcity being a significant issue in the region, as evidenced by Egypt's efforts to address wheat shortages by growing crops that need less water.

Climate change is having a significant impact on the Middle East, with the region warming twice as fast as the global average. This is leading to extreme heatwaves, prolonged droughts, and rising sea levels, putting over 400 million people at risk.

Climate change is having significant impacts on the Middle East, including temperature increase, and potentially drought, sea level rise, water scarcity, and desertification.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues due to their control over global oil production and pricing.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues due to their significant natural petroleum resources and dominant position in the region's oil production.

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
Leave a comment and read the comments of the readers.
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.
Leave a comment and read the comments of the readers.
No comments on the news.
Leave a comment
Your comment will appear after the review.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues due to the rise in oil prices since 2021, which will boost their fiscal and current account balances.

Title:

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.
You may also read.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues due to the rise in crude oil prices.

Gulf countries, including Saudi Arabia, UAE, Kuwait, Qatar, and Oman, are expected to benefit from increased oil revenues, but are also investing in renewable energy sources to diversify their economies and reduce carbon emissions.

Title:

Content: -Advertisement-

Qatar is building the largest ammonia plant in the world

-Advertisement-
-Advertisement-

Al-Attiyah International Foundation for Energy and Sustainable Development confirmed that the oil-rich Arab Gulf countries have a favorable opportunity to invest in one of the promising renewable energy sources, which could reshape their economies and reduce carbon dioxide emissions in the coming years.
It is well known that the countries of the Middle East have abundant reserves of oil and gas, as the Gulf Cooperation Council countries specifically possess about 25 percent of the world’s oil reserves, and about 18 percent of the global reserves of natural gas.
However, the region’s leaders realize that oil and gas will not be the main drivers of their economies forever, and many of them are trying to diversify the sources of the economy and expand the base of non-oil sectors.
The report added that the State of Qatar recently announced a project to build the largest blue ammonia plant in the world, with a production capacity of about 1.2 million tons per year of blue ammonia, and production is scheduled to start in 2026.
The production of green hydrogen is one of the energy sources in which the countries of the Middle East region have begun to invest heavily. Green hydrogen is produced by electrolysis of water through the separation of hydrogen and oxygen, relying on renewable energy sources.
Hydrogen is used in a wide range of applications, including power generation and storage, and transportation. It can also be used to produce jet fuel. Most importantly, hydrogen provides an important way to reduce carbon emissions in heavy industries such as steel, cement, and fertilizers.
It should be noted that blue ammonia is made from natural gas, but the carbon dioxide from the production process is captured and stored. Blue ammonia can be used as a low-carbon fuel in a wide range of industrial applications, including transportation, power generation, and heavy industries such as cement and fertilizer production. Blue ammonia is also a preferred method for transporting hydrogen over long distances.
Accordingly, the Arab Gulf countries are qualified to become a major producer and exporter of hydrogen due to their huge resources in the field of renewable energy for the production of green hydrogen, and they also enjoy a privileged geographical location near major demand centers such as the European Union and Asia, in addition to having huge financial potential to invest in Green hydrogen production projects.
On the other hand, most government revenues in the Arab Gulf countries still come from fossil fuel exports, so the establishment of green hydrogen projects will reduce dependence on oil exports, in addition to achieving an environmental benefit represented in reducing carbon emissions. Despite this, hydrogen production projects are currently subject to great economic challenges and risks, and this must be taken into consideration when making investment decisions in hydrogen projects.

For latest updates and news follow BLiTZ on Google News, Blitz Hindi, YouTube, Facebook, and also on Twitter.
-Advertisement-

- A word from our sponsors -

-Advertisement-

Most Popular

The Middle East climate initiative includes countries such as Egypt, Jordan, Morocco, Bahrain, Sudan, and the UAE, which are participating in cooperative efforts related to climate change and energy transition.

The Middle East climate initiative, also known as the Green Middle East initiative, aims to address climate change through projects such as planting trees and reclaiming degraded land, with several countries in the region participating.

Several countries in the Middle East, including Egypt, Morocco, and the United Arab Emirates, are investing in renewable energy and are likely participating in regional climate initiatives.

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.
MENAFN24092023000110011019ID1107129201
Legal Disclaimer:
MENA Financial Services Network provides information "as is" without any representations or warranties...
This disclaims our responsibility for the privacy practices or content of the sites included in our network, including images and videos.
For any queries regarding the use and reuse of this source of information, please contact the provider of the above article.

The Middle East is transitioning towards renewable energy, with countries like the UAE, Egypt, Jordan, and Morocco leading in solar and wind power plant establishment.

The Middle East climate initiative includes participation from the Gulf Cooperation Council, Egypt, Jordan, Morocco, Bahrain, Sudan, and the UAE, indicating a regional commitment to energy transition.

The Kingdom of Saudi Arabia launched the Middle East Green initiative, led by Prince Mohammed bin Salman, aiming to address climate change and promote environmental sustainability through projects such as planting 50 billion trees and reclaiming degraded land.

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

Title:

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.
News you might like.
No stories found.
Sabq Electronic Newspaper
sabq.org

The Kingdom of Saudi Arabia has launched the Middle East Green initiative, demonstrating its commitment to environmental sustainability and sustainable development, which is a key aspect of energy transition strategies in the region.

Title:

Content: The Green Middle East Initiative.
Integration and Interaction
|
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.
Publish it.

The Kingdom of Saudi Arabia launched the Middle East Green initiative, which aims to preserve and raise the quality of life by addressing climate change challenges and includes reducing carbon emissions and planting trees.

The Kingdom of Saudi Arabia has launched the Middle East Green initiative as part of its energy transition strategy, aiming to reduce carbon and develop clean energy.

The Middle East is transitioning towards solar energy, with countries like Egypt and Saudi Arabia investing in this sector, as they face significant climate change challenges, including rising temperatures and water scarcity.

"The Middle East is transitioning towards solar energy, with countries like Egypt and Saudi Arabia investing in this sector, driven by the need to reduce fossil fuel usage and combat climate change, and supported by international funding pledges."

Egypt and Saudi Arabia are investing in solar energy as part of the Middle East's energy transition strategies, with initiatives like the Green Middle East promoting environmental sustainability.

"Egypt and Saudi Arabia are investing in solar energy as part of their energy transition strategies, leveraging their advantageous geographical conditions to produce clean and renewable energy."

Egypt and Saudi Arabia are among the Middle Eastern countries investing in solar energy as part of their energy transition strategies, alongside other Arab countries like the UAE, Oman, Kuwait, Jordan, Algeria, and Morocco.

Benban Solar Park in Egypt has a capacity of 1800 megawatts, contributing significantly to the country's energy transition and solar energy output.

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

Title:

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

The Benban Solar Park in Egypt has a capacity of 1800 megawatts, making it one of the largest renewable energy projects in the Middle East, and a key example of the country's energy transition strategy.

The Benban Solar Park in Egypt has a capacity of 1800 megawatts, making it a significant contributor to the country's renewable energy strategy.

Title:

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

"Jordan has implemented investment law and incentives to encourage investment as part of its energy transition strategy."

Jordan has implemented investment law and incentives to encourage investment as part of its energy transition strategy.

Jordan has implemented the Investment Environment Law, which includes incentives, exemptions, and benefits to encourage investment.

Title:

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

"Jordan has implemented investment law and incentives to attract investments, including in the energy sector, as part of its economic modernization vision."

Jordan has implemented investment law and incentives to encourage investment in renewable energy as part of the energy transition in the Middle East.

The United Arab Emirates is investing up to AED 200 billion in renewable energy as part of its energy transition strategy, demonstrating the country's commitment to a low-carbon future.

Title:

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 United Arab Emirates is a leading country in the Arab region for producing electricity from solar energy, and it has invested AED 200 billion in renewable energy.

The United Arab Emirates is investing AED 200 billion in renewable energy, as part of its energy transition strategy, and has been actively investing in the solar and broader renewable space for the last 15 years.

Title:

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

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

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

By WAM

Published: Tue 18 Jan 2022, 11:12 PM

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

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

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

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

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

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

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

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

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

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

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

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

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

More news from Business

The United Arab Emirates aims to reach 100 gigawatts of renewable energy capacity as part of its energy transition strategy.

Gulf Cooperation Council countries are transitioning to renewable energy sources, including solar and wind, as part of their efforts to diversify energy sources and reduce environmental impacts.

Vision 2030 is a program in Saudi Arabia that prioritizes the development of renewable energy sectors, including green hydrogen, as part of its efforts to diversify its economy and modernize its society.

Title:

Content: ECONOMY
German Foreign Ministry: Kingdom establishes first office for hydrogen diplomacy in Middle East
Thank you for reading the news about the German Foreign Ministry: the Kingdom establishes the first office of hydrogen diplomacy in the Middle East and now we start with the details
DAMMAM (Reuters) - The German Foreign Ministry ’ s official website highlighted the strategic importance of the Kingdom ’ s opening of the Middle East ’ s first hydrogen diplomacy office in cooperation with Berlin on February 27, at a time when the climate crisis is a major challenge, but it also creates opportunities.
According to the article, “Fossil fuel producers in particular need to adapt the way they do business.
A second German office for hydrogen diplomacy after Nigeria, the first of its kind in the Middle East, is now being opened in order to strengthen cooperation in this key sector.
Energy can be stored and transported as hydrogen, making it possible to generate solar energy in the desert, for example, and then deliver it to where it needs to be.
Hydrogen plays an important role in the global energy transition.
However, this shift also involves radical changes in the economic systems and linkages that make up our interconnected world, and is therefore an issue of geopolitical importance, as traditional fossil fuel producers need to adapt their economic model to support this type of energy, and so Germany is establishing hydrogen diplomacy offices in strategically important partner countries.
In terms of the opportunities and challenges created by the global energy transition, the role of hydrogen diplomacy offices is to increase dialogue with strategic partner countries, covering areas such as the development of the international hydrogen market, and to strengthen cooperation in order to harness the opportunities this market creates.
The promotion of hydrogen and its end products also generates competitive advantages for the Kingdom and around the world.
Therefore, innovative hydrogen offices are tasked with providing expertise, and analytics that monitor the local and regional impact of the energy transition.
Another key part of their role is building relationships between decision makers, experts, and companies from both countries.
Hydrogen is also an element of bilateral economic cooperation, shaping the future of this vast market around the world.
The German Foreign Ministry website said: The Kingdom has launched the Vision 2030 program to diversify its economy and modernize its society.
As part of the program, this new Office of Hydrogen Diplomacy makes the development of renewable energies and green hydrogen a priority.
“German companies are contributing to these efforts, and the Office of Hydrogen Diplomacy will now help the Kingdom strengthen cooperation between Riyadh and Berlin in this area. ”
Innovative hydrogen offices are tasked with providing expertise and analysis that tracks the local and regional impact of the energy transition.
The promotion of hydrogen and its end products generates competitive advantages for the Kingdom around the world
You may also read.

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