The Middle East region has high solar energy potential, with an average annual solar radiation exceeding 2,000 kilowatt-hours, making it an ideal location for solar energy generation.

The region is expected to see significant growth in renewable energy, with the COP28 pledge aiming to increase renewable energy capacity and double energy efficiency by 2030.

Several countries in the region, including Saudi Arabia, the UAE, Morocco, and Egypt, have high solar energy potential and are investing heavily in renewable energy.

The UAE is currently producing 2.6 gigawatts of electricity from solar energy, while Egypt is producing 1.9 gigawatts of electricity from solar power.

The region faces challenges in integrating renewables into the grid, including weak grid infrastructure and the need for innovative solutions.

To address these challenges, countries in the region are implementing various grid integration strategies, including the use of batteries for grid regulation and reducing disruptions in renewable energy generation.

The importance of energy storage is highlighted by the fact that 1,500 GW of renewable energy is installed globally but cannot be integrated into networks due to technical challenges.

National grids in the region struggle to integrate renewables on a large scale, making energy storage a key challenge in integrating solar energy into the grid.

Governments in the region are providing incentives, such as solar loans with 0% interest in Jordan and up to $6,900 per person in Lebanon, to encourage the adoption of solar energy.

The region is expected to see significant growth in solar energy, with Kuwait expecting 7% annual growth in the solar energy market.

The Middle East accounts for 30% of global oil production, and oil revenues drive government revenues in the region.

However, the energy transition will have a significant impact on the regional influence and competition, and countries are investing heavily in renewable energy sources, such as solar and wind power.

The UAE, for example, is investing $54.5 billion in renewable energy, and Saudi Arabia is transitioning to a circular carbon economy.

Morocco has built the world's largest concentrated solar power plant, and Egypt has issued green bonds to support renewable energy integration.

The region's renewable energy targets may overshadow commercial and industrial sectors' needs, but governments are addressing these challenges through various initiatives and investments.

The Arab countries have increased their renewable energy capacity by 57% recently, with Egypt aiming to be a regional energy hub and having solar and wind power plants.

The MENA region is expected to see growth in renewable energy until 2027, with countries like Saudi Arabia, the UAE, Oman, and Morocco leading in renewable energy investments.

The Middle East countries are concerned about the environmental impacts of solar energy, but they are also committed to balancing their economic diversification and energy security needs with their climate goals.

Jordan aims to increase renewable energy to 50% of its total energy, but it faces challenges like lagging energy infrastructure and debt problems.

The Red Sea New City is expected to be powered 100% by clean energy, and the Zafra Solar Power Station is the largest single photovoltaic power station.

China and Arab countries are collaborating on clean energy projects, with the establishment of the China-Arab Clean Energy Training Center for capacity building.

Islamic finance can support renewable energy development in the Middle East, and Hong Kong can provide financial and advisory services to help the region achieve its renewable energy goals.

The Middle East is undergoing a significant energy transition, with several countries investing heavily in renewable energy, particularly solar energy, as part of their strategies to reduce dependence on oil.

Saudi Arabia, for example, has launched the Saudi Green Initiative to combat climate change and aims to achieve zero neutrality by 2060 through a circular carbon economy approach.

The Kingdom has set ambitious targets, including generating 50% of its electricity from renewables by 2030 and planting over 600 million trees.

Thirteen new renewable energy projects are currently under development in Saudi Arabia, with a total capacity of 11.4 GW, and a green hydrogen plant with a capacity of 600 tons per day is expected to start production in 2026.

Egypt is also playing a key role in the regional energy transition, with the Minister of Petroleum preparing an Egyptian initiative for energy transformation in Africa and joining the International Energy Agency to address climate change.

The Eastern Mediterranean Gas Forum is promoting cooperation on natural gas and energy sustainability, and the COP 28 Climate Summit will discuss energy transition and regional cooperation.

International cooperation and knowledge sharing are crucial in supporting the energy transition in the Middle East, with initiatives such as the World Government Summit and IRENA partnership aiming to promote renewable energy and support global efforts to transform energy use.

The UAE and other Arab countries are also working together to develop renewable energy, with targets such as 50% clean energy by 2050 and 40% clean energy generation by 2035.

China is also cooperating with Arab countries on clean energy, with the establishment of a clean energy training center and a Sino-Egyptian joint laboratory on renewable energy.

The Arab Coordination Group has allocated $10 billion for clean energy transition, with a strategic plan that includes mobilizing financial resources, reducing risk, and fostering innovation and new technologies.

Regional cooperation is essential in overcoming infrastructural challenges and promoting decarbonization and energy transition, with organizations such as the Eastern Mediterranean Gas Forum and the Arab Parliamentary Union facilitating cooperation.

The MENA region is expected to play a pivotal role in the global energy transition, with renewable energy investments accounting for 34% of electricity investment by 2026 and the region potentially generating 10-20% of the global hydrogen market by 2050.

Greece, Cyprus, and Israel are also cooperating on energy and renewable energy development, aiming to promote regional energy connectivity and reinforce efforts against climate change.

The Saudi-African Summit has also enhanced cooperation and strategic partnership, with Saudi Arabia committing to support African countries' development and providing over $45 billion in development support.

International cooperation and knowledge sharing can help Middle East countries achieve their energy transition goals, with organizations such as the International Energy Agency and the Arab Coordination Group providing technical support and financing.

The Middle East region has high solar energy potential, with an average annual solar radiation exceeding 2,000 kilowatt-hours, making it an ideal location for solar energy generation.

Title:

Content: General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
World Future Energy Summit.
Green finance and climate change lead day 2
The second day of the World Future Energy Summit (WFES), held at the Abu Dhabi National Exhibition Centre (ADNEC) in the UAE, kicked off today.
The summit is the premier annual forum for future energy and sustainability.
The day ’ s events focused on green finance, with Boris Johnson, the former Prime Minister of the United Kingdom, stressing the urgency of correcting climate change and thinking outside the box, and providing inspiring views on the obstacles to investing in renewable energy and ways to develop it during a session entitled “Financing Global Approaches to Low-Carbon Economies ”.
“It takes a lot of in-depth social studies, practical solutions and a lot of financial support – governments around the world spend a lot of money to defend themselves against other governments, but we don ’ t spend that much money to fight everyone ’ s first enemy, climate change.
He believes that finding practical solutions requires a serious approach to financing and establishing an assembly line for simple renewable energy projects, so that tangible results can be achieved as soon as possible, which is not possible without setting aside the side issues that usually concern us or we will not be able to solve the problem for another 10 years.
Ahmed Bahieldin, General Manager and Commercial Officer for Europe, Middle East and Africa (EMEA) at GE Vernova, an independent public company spin-off of GE ’ s energy, wind and electricity business, also joined the panel.
“Time is an important factor, especially as there is a lot of capital looking for projects in advanced markets, especially in the areas of renewable energy sources and new technologies, and regulatory reforms and the structuring of the revenue model give more room for growth.
The second day of the summit also saw the launch of the Solar Outlook 2024 report, officially released by the Middle East Solar Industry Association at the World Future Energy Summit.
The report highlights the growing contribution of solar energy to the MENA region ’ s ongoing energy transition from traditional fossil fuels to renewables, amid continued manufacturing boom, population and economic growth, as well as concerns about climate change and environmental sustainability.
Solar Energy
According to the report, the Middle East and North Africa (MENA) region today has one of the highest levels of solar energy potential in the world, with countries such as Saudi Arabia, the United Arab Emirates, Morocco and Egypt contributing on average annual solar radiation exceeding 2,000 kilowatt-hours per square meter per year.
While the regional solar growth trajectory is expected to continue, the report reveals that it is still well below the levels required to replace the current fossil fuel contribution of 87%, with solar providing just over 2% of the current energy mix in the MENA region.
Denisa Vines, Secretary General of the Middle East Solar Industry Association, said: “The COP28 pledge to increase renewable energy capacity and double energy efficiency with the support of 124 countries has set ambitious targets to increase the deployment of renewable energy and energy efficiency measures by 2030, but we still face many challenges to achieve these goals, especially in the energy sector within the Gulf region. After 2030, a variety of technologies are expected to be market-ready, offering scalable solutions to decarbonize the energy sector, enabling a more effective role for renewables, energy efficiency and zero-emission technologies.
The broad pursuit of ambitious targets by 2030 is focused on public utility projects, which may overshadow the needs of the commercial and industrial sectors, and this underscores the importance of considering a balanced approach to energy deployment to ensure inclusive and sustainable development.
COP28 Pledges
Speaking at the Solar and Clean Energy Conference, Dr. Ralph Blumenthal, Head of Networks Programs Middle East at Siemens, praised the ongoing discussions on digitization and the great importance of integrating renewables into smart grids to help achieve the goals of the COP28 pledge.
Batteries are key if we want to triple renewables by 2030, and increase them nine-fold by 2050. Batteries are not only storage, they are essential to grid regulation and reduce disruptions that may occur during renewable energy generation. Today, around 1,500 GW of renewable energy has been installed globally and is ready for deployment, but cannot be integrated into networks. It operates 100% on renewable energy, but national grids have not yet been able to effectively integrate renewables on a large scale.
Constructive discussions and sessions on global energy issues and solutions will continue tomorrow with the Electric Mobility Forum, which will comprehensively examine the role of clean and independent transport in changing the future of city design, and what is needed to unlock the potential of investing in expanding electric mobility.

The region is expected to see significant growth in renewable energy, with the COP28 pledge aiming to increase renewable energy capacity and double energy efficiency by 2030.

Several countries in the region, including Saudi Arabia, the UAE, Morocco, and Egypt, have high solar energy potential and are investing heavily in renewable energy.

The UAE is currently producing 2.6 gigawatts of electricity from solar energy, while Egypt is producing 1.9 gigawatts of electricity from solar power.

Title:

Content: In numbers...
Arab countries race to double their renewable energy production by 2030
ECONOMY
Publish
3 minutes read
DUBAI, United Arab Emirates — (CNN) Arab countries are on track to grow their utility-scale wind and solar capacity by more than 500% by 2023, according to a report by Global Energy Monitor.
According to the report, the Middle East and North Africa (MENA) region has enormous potential for large-scale wind and solar power projects because of its favorable climate and sunny weather for most of the year.
Arab countries are planning more than 73 gigawatts of utility-scale solar and wind projects, a more than fivefold increase in current capacity, which together with operational projects will account for 91% of the Arab League ’ s renewable energy goals for 2030.
The UAE is at the top of the list of Arab countries that produce the most electricity from solar energy, with solar plants producing 2.6 gigawatts of electricity.
Egypt is among the Arab countries that produce the most electricity from wind power at 1.6 gigawatts.
Egypt produces 1.9 gigawatts of electricity from solar power plants.
Egypt ’ s total electricity production from both places it at the top of the list of Arab countries with a production capacity of 3.5 gigawatts.
Thanks to its huge investments in solar electricity production, the UAE ranks second in wind and solar electricity production, followed by Morocco in third place with 1.9 GW and Jordan in fourth place with 1.7 GW.
While Egypt, the United Arab Emirates, Morocco and Jordan are the first Arab countries to initiate wind and solar power plants, Oman, Algeria and Kuwait are poised to follow suit, ranking first in expected solar and wind power production in the near future.
Here are the top Arab countries in terms of the current operation of solar and wind energy on the scale of utilities and the capacity of wind and solar energy expected to be produced at the level of each country in the Arab region.

The region faces challenges in integrating renewables into the grid, including weak grid infrastructure and the need for innovative solutions.

Title:

Content: BAGHDAD/PRNewswire/ -- In a strategic move toward harnessing the untapped potential of Iraq's solar landscape, Sungrow is taking the lead in shaping the nation's green energy sector.

Iraq's Minister of Oil, Ihsan Abdul Jabbar, stressed the importance for Arab countries to prioritize high-efficiency, low-cost energy production to foster a modern economy. The country has set a target to install 12 gigawatts of renewable energy, accounting for 33% of the country's electricity by 2030.
Spearheading this initiative, Lei Wu, the Acting Chief Operating Officer of Sungrow MENA region, emphasized the significance of bringing cutting-edge technology to tackle Iraq's longstanding electricity shortage, ultimately enhancing the availability of reliable and high-quality electricity for its residents.

Urgent energy transition needs calls for international cooperation
Iraq faces a substantial electricity shortage, with nearly one-third of its supply coming from imports, including natural gas, according to Reuters.
With 8 to 10 hours of daily sunshine and an annual average of 3,000 to 3,650 hours, the region is poised for large-scale PV deployment.
Wu outlines three key avenues for PV expansion in Iraq: utility-scale power plants, commercial and industrial (C&I) installations, and residential solutions.

Iraq's $680 million fund for clean energy development supports these efforts, demonstrating the government's ambition to build a green economy and foster international cooperation aiming for this goal.

Fragile grid demands innovative solutions
As the demand for solar power grows in Iraq, Iraq emerges as a burgeoning solar market. However, the underdeveloped power grid in Iraq presents challenges that demand higher standards for both products and technologies. Solar projects operating under Iraq's weak grid, whether serving as backup power sources during outages or directly connecting to the grid, have the potential to affect the overall stability of the grid, worsening an already precarious situation.

Lei Wu emphasizes, "Tailoring our products and solutions to diverse requirements is crucial. For example, when a project requires connection to a weak grid, our focus is on providing robust grid support. This involves a seamless integration of PV and energy storage to enhance the stability and optimize consumption ratios. Alternatively, in off-grid scenarios or as a backup power source, our goal is to ensure seamless collaboration between PV and energy storage for maximum efficiency."

A weak grid signifies a low Short Circuit Ratio (SCR), making it vulnerable to grid failure or disconnection issues. Currently, the minimum SCR required by the grid is 1.5, and the lower the SCR value inverters are compatible with, the more robust the grid supports after connection.

Notably, Sungrow, leveraging its technological prowess, has developed a "1+X" modular inverter and SG350HX string inverter, passing SCR tests at 1.018 and 1.1, respectively. In terms of energy storage, Sungrow employs Stem Cell Grid technology, achieving 0ms grid connection and disconnection switching. This ongoing exploration of boundaries serves to comprehensively enhance grid support capabilities.

"We have extensive experience in the MENA region. Previously, we participated in the construction of an 800 MW solar project for the Qatar World Cup. At that time, the integration of large-scale green energy into the Qatar power grid served as a test, and with the backing of advanced Chinese technology, the project proceeded smoothly. This success has bolstered our confidence in venturing into the Iraqi market", said Wu.

Provide localized services
"Venturing into international markets" is intrinsic to Chinese PV enterprises, yet breaking new ground is far from straightforward. Operating abroad not only scrutinizes technology and products, but also the effectiveness of local sales networks, post-sales teams, and service response capabilities. For seasoned players like Sungrow, however, this challenge is effortlessly managed.

Since its establishment in 1997, Sungrow has been dedicated to renewable energy power generation. Whether considering product quality, scale, or market coverage, the company stands as a global industry leader. Up to now, in addition to its traditional strength in solar inverters, Sungrow has diversified its business portfolio to include energy storage systems, renewable energy hydrogen production systems, smart operation and maintenance, EV-charging, investment and development in renewable energy power plants, and new energy automotive driving systems, etc. Wu told the reporter, "Every enterprise may face challenges of not fitting the local conditions while exploring new markets. To overcome this, concerted efforts are necessary. Firstly, we must understand the local business environment and social culture, do thorough groundwork in advance, and avoid potential risk factors."

"Secondly, we need a strong sales and service network for timely customer response. Currently, our business reaches 150+ countries and regions, committed to addressing overseas customer needs within 48 hours.

Sungrow follows a global development strategy, with branches and sales networks in the MENA region for localized services. This enhances cooperation with local customers, aiding in expanding the Iraqi market," he added.

Wu further emphasized that, "Exploring new markets is about establishing roots. The deeper the roots, the more abundant the growth."

In the first nine months of this year, Sungrow marked a revenue of RMB 46.415 billion, surpassing the annual revenue of RMB 40.257 billion in 2022, setting a new record. As per consulting firm S&P Global Commodity Insights, Sungrow has maintained its global lead by shipping 77 GW of PV inverters in 2022. Additionally, its delivery of energy storage systems exceeded 7.7 GWh in the same year.

SOURCE Sungrow Power Supply Co., Ltd.

CONTACT: Bertha Wang, wangxiaoyu@sungrowpower.com

To address these challenges, countries in the region are implementing various grid integration strategies, including the use of batteries for grid regulation and reducing disruptions in renewable energy generation.

The importance of energy storage is highlighted by the fact that 1,500 GW of renewable energy is installed globally but cannot be integrated into networks due to technical challenges.

National grids in the region struggle to integrate renewables on a large scale, making energy storage a key challenge in integrating solar energy into the grid.

Governments in the region are providing incentives, such as solar loans with 0% interest in Jordan and up to $6,900 per person in Lebanon, to encourage the adoption of solar energy.

Title:

Content: Among them Iraq.
5 Arab Countries Leading Solar Energy Support Programs
2023-11-07 | 02: 22
Alsumaria News – Economy
Solar subsidy and loan programs in Arab countries continue at a time when the need for alternative energy sources is acute, as the effects of climate change intensify, and the global energy crisis that began with the Russian invasion of Ukraine on February 24, 2022 intensifies.
Solar energy in Iraq, Jordan, Lebanon, Egypt and Kuwait receives official support, either through direct legislation approved by the parliaments of these countries, or through loans made available by government and official banks there, or through national and national projects provided by the ministries of energy and electricity, according to the specialized energy platform.
In the coming years, support for solar energy in Arab countries is expected to gain momentum, with many declaring their commitment to achieving carbon neutrality by mid-century and plans to increase the contribution of renewable energy to their electricity mix by 2050.
* Support for solar energy in Jordan
The most prominent support received by solar energy in the Arab countries is that provided by Jordan, through a range of programs supervised by the Ministry of Energy and Mineral Resources, as the solar loan project in Jordan witnessed a new step on Sunday, October 29, as part of efforts to motivate citizens to adopt clean energy.
The Agricultural Credit Corporation signed an agreement with the Renewable Energy Promotion Fund to support the second phase of the program to install solar cell systems for farmers to cover the interest on the loans, according to a press release.
* Solar Loans in Jordan
The Minister of Agriculture and Chairman of the Agricultural Lending Corporation, Khalid Al-Hanifat, said that the agreement will reduce the cost of production for farmers, as it targets all animal and plant agricultural activities, as it covers beneficiaries with a ceiling of 20 thousand dinars (28.1 thousand US dollars) without interest.
At the same time, Jordan is preparing for the third phase of the strongest support program witnessed by solar energy in the Arab countries, the installation of solar cells in homes, the second phase of which ended in July 2023, according to information monitored by the specialized energy platform.
This program aims to support the use of solar energy in Jordanian homes, as well as the installation of solar heaters, which will reduce the cost of electricity for citizens, while reducing the energy import bill for the state.
* Solar Loans in Lebanon
As part of the efforts to support solar energy in the Arab countries, the Lebanese effort, which aims to alleviate the energy crisis, is highlighted through an important program to grant solar energy loans, which are an appropriate and sustainable solution to overcome the energy threat, as described by the Lebanese government a year ago.
The installation of solar energy in the homes of Lebanese will solve the crisis of high electricity bills, as these loans are provided to the low- and middle-income by the initiative "Loans to the low- and middle-income", in cooperation with the Lebanese Center for Energy Conservation.
Loans for the installation of solar energy systems and plants in Lebanon range from 75 million to 200 million liras ($2,590 to $6,900) per person, up to a maximum of 80% of the project cost, and at an interest rate of 4.99% per annum, depending on the specialized energy platform.
* Information on Solar Loans in Lebanon
It is noteworthy that the solar energy market in the Arab countries is witnessing increasing growth, especially in Lebanon, which, despite its major crisis, witnessed during 2020 about 313 projects authorized, with a capacity of 14 MW, before this number increased, and the country records 662 applications for the installation of solar plants, during the period from October 2021 to March 2022.
According to the Lebanese Center for Energy Conservation, the installation of solar power plants in Lebanese homes will save citizens the value of high bills, which makes them able to save the value of the loan within two to three years, especially since the repayment is limited to paper lira only.
Solar energy in Egypt
In August 2023, the Committee on Energy and Environment in the Egyptian House of Representatives set a number of rules to increase the number of small household units to consume electricity from solar energy, as part of its recommendations on the Economic and Social Development Plan for 2023-2024.
The Committee stressed the need to develop alternative renewable sources of energy, to take action to mitigate and adapt to climate change and its consequences, while working to reduce greenhouse gas emissions, and to accelerate the transition to low-carbon vehicles.
Solar energy in Egypt
Prior to these directives, Egypt witnessed one of the strongest solar energy subsidy programs in the Arab countries, with four banks, including government banks, providing loans of large amounts to support the installation of solar energy systems and their stations for homes, through various repayment programs.
HSBC Egypt, one of the largest solar loans in the Arab world, is offering EGP 2 million ($64,675) with a repayment period of about seven years, while QNB is offering a loan of EGP 400,000 ($12,930) for seven years.
Misr State Bank also offers a financing program worth up to EGP 500,000 ($16,168) and a repayment period of up to 10 years, while the Commercial International Bank (CIB) offers a loan worth EGP 350,000 ($11,300) with a repayment period of 5 years.
* Solar energy in Kuwait
As the State of Kuwait prepares to complete new phases of the Shaqaya CSP project, the State continues to encourage citizens to use solar energy in their homes, as part of its drive to achieve carbon neutrality and reduce emissions by mid-century.
The State of Kuwait adopts a unique approach that distinguishes it from all consumers of solar energy in the Arab countries, as it encourages citizens to sell electricity in excess of their consumption to the government, generated from solar panels installed on rooftops.
* Solar energy in Kuwait
According to an analysis by Mordor Intelligence, seen by the specialized energy platform, the solar energy market in Kuwait is expected to register a compound annual growth rate of more than 7%, especially as this market is achieving a significant recovery, despite the damage caused by the outbreak of the Coronavirus three years ago.
Despite this, Kuwait ’ s solar market is not growing in line with expectations, as initial spending is large, and there is a lack of multiple government programs during the forecast period, but over time internal subsidies continue, leaving the country with the most important solar projects in the Arab countries.
At the same time, the Kuwaiti government is working to provide solar energy to citizens by building huge power plants from an inexhaustible renewable source, especially as Kuwait enjoys a very high brightness, which qualifies it to enter this market from its widest doors.
Iraq to finance solar installation
As Iraq faces one of the difficult electricity crises, caused by the lack of Iranian gas supplies, and seeks alternative sources, both external (such as Qatari gas) and internal (such as the tendency to burn gas associated with electricity generation), Baghdad continues to provide one of the most important forms of solar energy subsidies in Arab countries.
In January 2022, the Central Bank of Iraq issued controls to finance electricity generation systems from renewable energy, as the governor of the bank signed the first circular that allows citizens and institutions to buy systems and power plants from solar energy.
Solar energy in Iraq
This initiative is in line with the State ’ s commitment to the decisions of the Paris Climate Conference, as the interest on loans provided to citizens to install solar power plants did not exceed 1%.
While the value of loans ranged between 7 million Iraqi dinars (4 thousand and 800 dollars) for stations 3 kilowatt hours, and one billion dinars (685 thousand dollars) for large projects in residential squares, according to the website of the Central Bank of Iraq.
Source: Energy Platform
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The region is expected to see significant growth in solar energy, with Kuwait expecting 7% annual growth in the solar energy market.

The Middle East accounts for 30% of global oil production, and oil revenues drive government revenues in the region.

Title:

Content: The Middle East is on the cusp of an energy revolution.
In the midst of unprecedented climate change
The next morning – follow up:
The world is currently facing extreme weather extremes, from flash floods to heavy rainfall to record-high temperatures and wildfires, all pointing to a single source: climate change driven by carbon emissions in the air.
The Middle East is particularly affected by this situation as it produces and consumes a very large amount of carbon-emitting fossil fuels that in turn lead to climate change.
A UN report by a UN scientific panel described climate change as unprecedented, saying it was definitely people who were responsible for climate change.
He called for drastic cuts in emissions in order to keep global temperature below the limits set out in the 2015 Paris climate agreement.
According to the Intergovernmental Panel on Climate Change (IPCC), “The scope of recent changes in aspects of the climate system as a whole and the current state of many aspects of the climate system are unprecedented for centuries or several millennia. ”
"Based on the available evidence, they have high confidence that atmospheric carbon dioxide concentrations were higher in 2019 than at any point in at least two million years, and that since 1970, global surface temperature has risen faster than any other 50 years in at least the last two millennia."
234 experts from 66 countries wrote the report, the most comprehensive since 2013.
Many of the effects of climate change can no longer be avoided today.
John Alterman, vice president of the Center for Strategic and International Studies, director of the Middle East Program and director of the Brzezinski Chair for Global and Strategic Security, says no region in the world is more immersed in the consequences of global climate change than the Middle East.
The region accounts for 30% of global oil production and oil revenues are the locomotive of government revenues in the region, either because countries produce oil or because countries produce a workforce working in oil-exporting countries and send money home.
Because of oil revenues, Middle Eastern governments can and do employ large numbers of their own population.
As the world moves away from oil as a source of energy, the economies of the Middle East will change profoundly.
John Alterman adds in a report published by the Center for Strategic and International Studies that at the same time the Middle East is vulnerable to the consequences of climate change.
The region is already extremely water-poor, with the Middle East having 9 of the 10 most water-poor countries.
Drought pushes farmers away from their land and the region ’ s many coastal cities are threatened by sea-level rise, and rising summer temperatures increasingly combine with humidity to endanger human survival.
The Middle East is thus rooted on both sides of the issue of climate change.
As global consumption patterns change, the Middle East will change profoundly.
With climate change, the Middle East will also change profoundly.
He adds that developing countries' energy consumption rises sharply as incomes increase and are likely to rely on existing equipment and technology for longer.
While the rich can spend thousands on green products, for much of the world ’ s population oil and gas will remain affordable fuel.
But Middle Eastern governments may not be willing to cut their oil production.
A sustained drop in global consumption, however small, would put pressure on Gulf states to increase output in a bid to drive higher-cost producers out of the market and ensure they are not left with less valuable barrels in the ground when consumption falls further.
Governments across the Middle East have been preparing for a post-oil world for years but are still far from their goals, says John Alterman.
In the Gulf countries, years will be needed to move from the reality of high-productivity, low-wage workers supporting the efforts of low-productivity, high-wage workers.
The energy transition will be important for more than just the Middle East.
Energy security is the driver of much of China ’ s recent investment in the region.
If China decides that its energy security derives from mines in Africa and not from wells in the Middle East, we should expect a shift in Chinese interest and capital.
If there is a more permanent role for oil and gas in the global energy picture, there could be more competition between the United States and China for regional influence.
Finally, Western countries could move away from hydrocarbons for environmental reasons while China and the developing world remain devoted to them for economic reasons.
This could almost be reflected in America abandoning its future role in the Middle East, with China capturing much of this inaction.
Related Articles

However, the energy transition will have a significant impact on the regional influence and competition, and countries are investing heavily in renewable energy sources, such as solar and wind power.

The UAE, for example, is investing $54.5 billion in renewable energy, and Saudi Arabia is transitioning to a circular carbon economy.

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.

Morocco has built the world's largest concentrated solar power plant, and Egypt has issued green bonds to support renewable energy integration.

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Content: A comprehensive reform of the economies of the Arab world « 3 of 4 »
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The private sector should take the lead in increasing economic activity, supported by a strong and highly efficient public sector.
In contrast, the role of governments in creating institutions, correcting market failures and providing public goods is key.
Education reforms will be necessary to ensure the inclusion of the workforce in the formal sector, enhancing citizens ’ income security and access to forms of social protection, and to develop sufficient skills for citizens to join the private sector.
Removing legal barriers and ending discriminatory practices would help to enhance women's participation in the labour force.
Replacing generalized price subsidies with targeted subsidies would allow those most in need to sense immediate and noticeable improvement.
Currently, state-owned enterprises in the region are spread across the economic spectrum, ranging from manufacturing enterprises for tobacco, textiles, food and furniture to telecommunications and electricity production enterprises.
This large public sector presence in business activities and as a first resort for employment creates inefficiencies and distortions, which place a significant burden on overall productivity growth.
Strong economic governance and critical anti-corruption policies are key to encouraging faster and more inclusive growth and ensuring that everyone has a voice.
Political and economic participation protects accountability for the use of public resources and service delivery, promotes social cohesion and trust, and ensures that the benefits of growth can be distributed across different segments of society.
As reforms progress, it will be necessary for Governments to provide evidence in support of their decisions and results and to take responsibility for them.
Transparent and accountable institutions ensure that business rules are based on fairness and clarity.
On the emphasis on resilience, the energy transition and resilience in the face of climate change have become more urgent imperatives.
In a region with significant water and food needs, climate change will exacerbate ever higher levels of hunger.
This will result in deepening economic turmoil, conflict and human displacement.
In Tunisia, the tourism and fishing sectors face the dangers of beach erosion, with serious implications for economic activity and employment.
In Mauritania, growth could fall by as much as a percentage point as droughts increase, but increased access to electricity could cut losses in half.
Proactive efforts to strengthen resilience to climate change are therefore an urgent priority.
Some countries in the region are already investing in climate-resilient renewable energy and infrastructure projects, with measures that will increase the actual cost of carbon emissions, including phasing out subsidies on energy consumption.
In recent years, Morocco has built the world ’ s largest concentrated solar power plant, which uses reflected heat to drive electricity generation even after sunset.
Egypt has been at the forefront of the region in issuing green bonds and has accelerated the integration of renewable energy into the energy system over the past decade.
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The region's renewable energy targets may overshadow commercial and industrial sectors' needs, but governments are addressing these challenges through various initiatives and investments.

The Arab countries have increased their renewable energy capacity by 57% recently, with Egypt aiming to be a regional energy hub and having solar and wind power plants.

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
Economist: Egypt is linked to 2030 strategy and will be an energy hub
Dr. Walid Jaballah, an economist, said that the Arab countries ’ increase in renewable energy capacity by 57% is a medium increase and is concentrated in Egypt, Saudi Arabia, Oman and Morocco.
During a telephone interview with Extra News, Jaballah said that these countries are taking the approach of economic diversification in the Gulf, Egypt and Morocco, while other Arab countries are still not concerned with this file and are suffering from problems related to exporting the necessary financing in order to move to the path of renewable energy.
He added that Egypt is linked to its 2030 strategy and to be a regional energy hub with real projects on the ground, where he issued a solar power plant in Biban and wind power plants on the Red Sea coast.
The expert pointed out that Egypt, Saudi Arabia, the UAE, Oman and Morocco account for more than 72% of the total renewable energy growth in the MENA region until 2027.

The MENA region is expected to see growth in renewable energy until 2027, with countries like Saudi Arabia, the UAE, Oman, and Morocco leading in renewable energy investments.

The Middle East countries are concerned about the environmental impacts of solar energy, but they are also committed to balancing their economic diversification and energy security needs with their climate goals.

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.

Jordan aims to increase renewable energy to 50% of its total energy, but it faces challenges like lagging energy infrastructure and debt problems.

The Red Sea New City is expected to be powered 100% by clean energy, and the Zafra Solar Power Station is the largest single photovoltaic power station.

Title:

Content: People 's Network > > International
Sino-Arab green transformation cooperation is on the rise
December 8, 2022, 13: 09 | Source: Xinhua Network
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Xinhua News Agency, BEIJING, December 8 (International observation) Sino-Arab cooperation on green transformation is on the rise
Xinhua News Agency reporter Luo Guofang
China and Arab countries have different resource endowments and development paths, but they are in the key stage of green development transformation.
The pursuit of a common vision of sustainable development will push China and Argentina to move forward together in a cleaner, greener and low-carbon direction, and continuously deepen cooperation in related fields to benefit the people of China and Argentina.
Development Complementary Advantages
At present, China's development is changing from high-speed growth to high-quality development, and it is committed to energy transformation and clean development in the field of energy, and strives to build a clean, low-carbon, safe and efficient energy system.
At the same time, many Arab countries have also launched energy transformation plans in recent years, committed to the development of clean and renewable energy, and strive to reduce dependence on fossil fuels such as oil and natural gas, and promote sustainable economic development.
Saudi Arabia announced in its Vision 2030 development strategy that by 2030, the proportion of renewable energy in the country's energy mix will reach 50%.
The UAE ’ s Energy Strategy 2050 aims to increase the share of clean energy in the total energy mix to 50% by 2050.
Egypt plans to increase the share of clean energy generation to 40% by 2035.
The Arab region has one of the best solar and wind energy resource endowments in the world, and the development of clean and renewable energy has unique conditions.
According to a report released by the Global Energy Monitor in June this year, Arab countries in the Middle East and North Africa plan to add 73 gigawatts of utility-scale solar and wind capacity by 2030, more than five times the current installed capacity.
China has advanced technology and rich experience in the field of photovoltaic and wind power, and has complementary advantages with Arab countries in the field of clean and renewable energy.
Abu Dhabi Energy Director, Avida Murshid Maral, said that vigorously developing renewable energy has become a global trend, which creates a good opportunity for deepening Arab-Chinese energy cooperation.
Collaborating for a Green Transition
In recent years, China has actively expanded cooperation with Arab countries in the field of clean and renewable energy, and the two sides have jointly implemented a number of cooperation projects.
The Zafra Solar Power Station, about 35 kilometers from Abu Dhabi City, is the largest single photovoltaic power station in the world, with an installed capacity of 2 GW.
The solar power plant, which is contracted by a Chinese company, will help Abu Dhabi reduce carbon dioxide emissions by 2.4 million tons per year and play an important role in the sustainable development of the UAE's energy economy.
Saudi Arabia's Red Sea coast is creating a green new city, the project called the Red Sea New City, the future electricity supply will be 100% from clean energy.
The realization of this vision will not only rely on solar and wind energy, but also benefit from energy storage systems that can act as energy “cisterns ” and“ regulators, stabilizers ”.
The successful signing of the Red Sea New City energy storage project by Chinese enterprises will help Saudi Arabia to build a global clean energy and green economy center.
Abdullah Wadi, a researcher at the Saudi think tank Research and Knowledge Exchange Center, said that Saudi Arabia and China are committed to vigorously developing clean and renewable energy, and actively promoting relevant international cooperation, which has set a good example for the international community to work together to promote green and low-carbon development and jointly deal with various challenges and global issues facing mankind.
Helping Fishing Development
With the deepening of cooperation between China and Arab countries in clean energy, low-carbon economy and energy transition, China ’ s advanced technology in related fields has also entered Arab countries. China adheres to the concept of “teaching people to fish ” and helps Arab countries improve their independent development capabilities through multi-level cooperative research and training programs.
China and Arab countries jointly set up the China-Arab Clean Energy Training Center to jointly organize capacity-building activities in photovoltaic, solar thermal, wind power and smart grid.
China and Egypt have set up a Sino-Egyptian joint laboratory on renewable energy to carry out joint research, promote personnel training, and help Egypt strengthen scientific and technological capacity building.
Since its establishment in 2015, the China-Arab Technology Transfer Center has built eight bilateral technology transfer centers in Saudi Arabia, Jordan and other countries, forming a technology transfer cooperation network linking nearly 5,000 Chinese and foreign members.
“The development of zero-carbon and low-carbon energy technologies is of great significance.
These technologies align with our energy transition goals, make the energy industry more resilient and help us build a sustainable and peaceful future, ” said Maral.
(Editor: Jia Wenting, Liu Jieyan)
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China and Arab countries are collaborating on clean energy projects, with the establishment of the China-Arab Clean Energy Training Center for capacity building.

Islamic finance can support renewable energy development in the Middle East, and Hong Kong can provide financial and advisory services to help the region achieve its renewable energy goals.

The Middle East is undergoing a significant energy transition, with several countries investing heavily in renewable energy, particularly solar energy, as part of their strategies to reduce dependence on oil.

Title:

Content: HighlightsNewsLocalities
Saudi Arabia reinforces its global leadership in combating climate change
Regions _ UAS
The Kingdom of Saudi Arabia has always taken the lead in many areas that concern humanity and affect their lives, including environmental issues and climate change, where the government of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Highness the Crown Prince have presented various initiatives in order to combat the phenomenon of climate change and address environmental challenges.
The Kingdom of Saudi Arabia shares the growing environmental challenges facing the countries of the world as a result of the increasing population and the rapid pace of industrial, economic, urban and agricultural development. It has striven to reduce the causes of climate change and meet its commitment to international standards and agreements within the framework of international programs emanating from specialized organizations, including the Paris Agreement on Climate Change.
Recognizing the importance of regional and international solidarity to promote global climate action and reduce carbon emissions, thus contributing to improving the quality of life and creating a better future for future generations, the “Saudi Green Initiative ” and the“ Green Middle East Initiative ” were launched to chart the direction of the Kingdom and the region in protecting land and nature and put them in a roadmap with clear and ambitious milestones, as they contribute strongly to achieving global targets.
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister of the UAE, said: “As a leading global oil producer, we are fully aware of our share of responsibility in driving the fight against the climate crisis, and just as our leading role in stabilizing energy markets during the oil and gas era, we will be working to lead the next green era. ”
In furtherance of these efforts to preserve the environment and face the challenges of climate change, His Highness the Crown Prince announced in October 2021 that Saudi Arabia aims to achieve zero neutrality in 2060 through a circular carbon economy approach, in line with the Kingdom ’ s development plans, enabling its economic diversification, in line with the “moving baseline ”. management and reduction of emissions.
The Kingdom aims to achieve ambitious climate action targets by 2030: to convert 30% of its land and marine areas into nature reserves, and to plant more than 600 million trees.
The Kingdom is implementing a circular carbon economy model with the aim of implementing its commitment to reduce emissions by 278 million tons per year by 2030.
In line with its ambitions to increase the share of renewables in the electricity mix to 50% by 2030, the Kingdom announced 13 new projects under development in the field of renewable energy with a total capacity of 11.4 GW.
The value of investments in these projects is estimated at 34 billion Saudi riyals ($9 billion).
Once operational, these projects are expected to contribute to the removal of approximately 20 million tonnes of CO2 equivalent per year.
In support of achieving the emission reduction target set by the Saudi Green Initiative and contributing to national ambitions to become the largest producer and exporter of low-cost clean hydrogen in the world, work is underway to establish the largest green hydrogen plant in the world, with production expected to start with a capacity of 600 tons per day in 2026.
Saudi Aramco, SABIC and Ma ’ aden have also earned the world ’ s first independent certifications as certified producers of blue hydrogen and ammonia, boosting Saudi Arabia ’ s clean fuel export infrastructure.
In this context, His Royal Highness Prince Abdulaziz bin Salman, Minister of Energy, said during his participation in the second edition of the Saudi Green Initiative Forum held in Sharm el-Sheikh in November 2022: “All government agencies in the Kingdom are joining forces to ensure the success of the Saudi Green Initiative.
Next year, we look forward to finalizing plans to develop 10 additional renewable energy projects and add 840 megawatts of solar energy to the national grid.
We also announce today that we will launch a program to trade greenhouse gas credits and compensation in early 2023, with the aim of stimulating efforts and investments in projects to reduce and eliminate emissions in all vital sectors in the Kingdom. ”
During the Saudi Green Initiative Forum, His Highness the Minister of Energy announced the signing of a joint development agreement to establish the world ’ s largest CO2 capture, transport and storage complex led by Saudi Aramco and its partners.
The center is scheduled to start operations in Jubail Industrial City by 2027 with a capture and storage capacity of 9 million metric tons of CO2 per year during the first phase, supporting the Kingdom ’ s goal of capturing, using and storing 44 million metric tons of CO2 by 2035.
Last year, the Kingdom launched three new projects, including the launch of the Carbon Circular Economy Knowledge Center in 2023, to serve as an important platform to support regional cooperation efforts in the development of carbon circular economy technologies through the exchange of information, best practices and results to enable countries in the region to implement their nationally determined contributions and help achieve the ambitious goals set by the Green Middle East Initiative.
The second project includes the establishment of a regional center to accelerate the pace of emissions reduction, in cooperation with the United Nations Economic and Social Commission for Western Asia (ESCWA), with the aim of enhancing regional cooperation opportunities in support of reducing emissions and accelerating the adoption of the circular economy model.
The third project involves Saudi Arabia, in agreement with the United Nations Framework Convention on Climate Change (UNFCCC), hosting Middle East and North Africa Climate Week 2023 in the run-up to the 28th edition of COP28, with the participation of regional and global stakeholders to explore challenges and opportunities, showcase innovative solutions, and promote climate action.
The Kingdom has also launched two carbon capture and use pilot projects led by King Abdullah University of Science and Technology (KAUST), Neom City, Saudi Electricity Company (SEC), Safwa Cement Company (ASCC) and Abdullah Hashem Industrial Equipment and Gases Co. Ltd.
In support of these efforts, His Highness the Crown Prince launched in February 2019 the Sharaan Nature Reserve in Al-Ula Governorate as part of a series of key strategic projects undertaken by the Royal Commission for Al-Ula Governorate, with the aim of restoring the balance between ecosystems. This initiative includes the establishment of the largest global fund of its kind to protect the Arabian tiger, the Global Fund for the Protection of the Arabian Tiger.
Since its launch, the Saudi Green Initiative has planted more than 18 million trees, including 13 million mangroves, and launched 17 new environmental programs across the Kingdom to restore natural green spaces and address the consequences of climate change.
Reclaiming the Kingdom ’ s wetlands is an effective natural way to prevent coastal erosion and combat climate change, as these trees absorb up to five times as much carbon as tropical forests.
NEOM also announced its intention to reclaim 1.5 million hectares of land and plant 100 million native trees by 2030 as part of its contribution to the goal of planting 10 billion trees.
As a culmination of its efforts to protect biodiversity in marine environments, the Kingdom announced the establishment of an institution dedicated to the conservation of coral reefs and the protection of marine turtle habitats in the Red Sea, and the successful reclamation of 60,000 hectares of non-arable land.
Around 100 carefully selected and adaptable local tree species are currently being planted in dedicated nurseries, with the aim of subsequent planting in 62 certified sites across the Kingdom.
This step contributes to the development of natural vegetation, the protection of biodiversity and soil stabilization to reduce dust storms.
By coordinating national efforts, the Kingdom has been able to quadruple the area of its natural reserves in 2016.
The Saudi Green Initiative was launched in 2021 with the aim of unifying and scaling up climate action in Saudi Arabia in line with Vision 2030.
The programs and projects under the umbrella of the Saudi Green Initiative reflect the Kingdom ’ s commitment to combating climate change and addressing regional environmental challenges, including high temperatures, low rainfall, dust storms and desertification.
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Saudi Arabia, for example, has launched the Saudi Green Initiative to combat climate change and aims to achieve zero neutrality by 2060 through a circular carbon economy approach.

The Kingdom has set ambitious targets, including generating 50% of its electricity from renewables by 2030 and planting over 600 million trees.

Thirteen new renewable energy projects are currently under development in Saudi Arabia, with a total capacity of 11.4 GW, and a green hydrogen plant with a capacity of 600 tons per day is expected to start production in 2026.

Egypt is also playing a key role in the regional energy transition, with the Minister of Petroleum preparing an Egyptian initiative for energy transformation in Africa and joining the International Energy Agency to address climate change.

Title:

Content: General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
Minister of Petroleum: Preparing an Egyptian Initiative to Develop Energy Transformation in Africa
Minister of Petroleum and Mineral Resources Tarek Al-Mulla participated in the activities of the second day of the meetings of the International Energy Agency, chaired by Dr. Fatih Birol, Chief Executive Officer of the Agency, and in the presence of Jennifer Granholm, US Secretary of Energy, to discuss energy transformation efforts.
Participation of the Minister of Petroleum via videoconference
This came through videoconference technology, where he participated in a ministerial discussion session that included energy ministers from 44 countries under the title "The International Energy Agency Community", which was organized by the Agency to welcome the accession of a number of countries to its membership, including Egypt, in the framework of intensifying efforts to implement the objectives of the global energy transition.
The Minister of Petroleum called for cooperation and integration to create the appropriate conditions for the African continent to achieve energy transformation in a balanced and realistic manner that takes into account the requirements of the continent and its economic and living conditions.
The Minister of Petroleum stressed that the global role is important in providing finance and technologies to the African continent to support it in obtaining clean, low-carbon energy, pointing out the importance of focusing in this field on the development of natural gas resources and renewable energy in the continent, which has great natural resources and potentials.
He pointed out that Egypt is continuing its efforts and working on preparing an Egyptian initiative to develop the energy transition in Africa in cooperation with several institutions, including the African Union and African energy ministers, which is scheduled to be launched during the upcoming COP27 Climate Summit, pointing out that Egypt has taken the initiative to mobilize all efforts of the Eastern Mediterranean countries for cooperation and integration under the umbrella of the Eastern Mediterranean Gas Forum, whose members adopt a unified vision to benefit from natural gas as the cleanest hydrocarbon fuel. It is part of the energy system and represents a solution to climate change.
In this context, the Minister of Petroleum expressed his aspiration for cooperation between the Eastern Mediterranean Gas Forum (EMGF) and the International Energy Agency (IEA) to provide technical support to the Egyptian initiative on the African continent, thus contributing to enhancing its results and recommendations during the upcoming Climate Summit.
El-Molla stressed Egypt ’ s keenness to work together with the International Energy Agency (IEA) after joining its membership in order to develop integrated action plans to address climate change and develop a joint work program for future cooperation between the two sides in decarbonization, renewable energy, hydrogen and energy efficiency.
He added that the agency ’ s support for the upcoming climate summit in Egypt will have a great impact on finding solutions and developing a roadmap, as well as providing the technology and funding needed to achieve a balanced energy transition for Africa and the world at large.
Egypt welcomes the participation of countries in the COP 27 climate summit in Sharm el-Sheikh, in order to actively engage the energy community in providing realistic and workable solutions.

The Eastern Mediterranean Gas Forum is promoting cooperation on natural gas and energy sustainability, and the COP 28 Climate Summit will discuss energy transition and regional cooperation.

Title:

Content: General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
Minister of Petroleum at Climate Conference: Regional Cooperation and Partnerships Contribute to Decarbonization
On the sidelines of his participation in the COP 28 Climate Summit in Dubai, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, chaired a panel discussion on the role of regional cooperation as a catalyst for policies to reduce carbon emissions and energy transition, in the presence of Dr. Saleh Al Kharabsha, Minister of Energy and Mineral Resources of Jordan, Osama Mubarez, Secretary General of the Eastern Mediterranean Gas Forum, and Joseph McMonegel. Dr. Pratima Rangarajan, CEO of the Oil and Gas Climate Initiative.
In his opening remarks, Eng. Tarek Al Mulla stressed that climate change is an undeniable reality in light of the imperative to shift to more sustainable energy sources, which requires the concerted efforts of various governments, the private sector and financial institutions to formulate strong frameworks at the regional level to develop innovative solutions that stimulate energy transition policies.
Al-Mulla explained the priorities of the Harmonized Framework of Policies and Procedures for Reducing Emissions from Different Stages of the Natural Gas Value Chain in the Eastern Mediterranean Region prepared by the Eastern Mediterranean Gas Forum, which is one of the important incentives supporting Member States ’ plans towards energy sustainability and security.
He said the EMGF is now a distinct regional platform, where each member state can share its expertise and resources to promote energy policies and overcome infrastructural, financial and geopolitical challenges to accelerate energy transitions.
He added that the current geopolitical challenges and their impact on the energy industry showed the need to strengthen regional cooperation, concerted efforts and partnerships to promote decarbonization and accelerate the pace of energy transition.
The session discussed common objectives towards enhancing cooperation and future opportunities in the Eastern Mediterranean region.
The participants reviewed the important role of regional cooperation in sharing best practices and technologies and providing funding to achieve the common goal of combating the effects of climate change.

International cooperation and knowledge sharing are crucial in supporting the energy transition in the Middle East, with initiatives such as the World Government Summit and IRENA partnership aiming to promote renewable energy and support global efforts to transform energy use.

Title:

Content: The countdown to Expo 2020 Dubai
Organize joint events, launches and initiatives to exchange experiences and share successful experiences
World Government Summit and IRENA partner to shape the future of renewable energy
The World Government Summit (WGS) and the International Renewable Energy Agency (IRENA) have signed a Memorandum of Understanding (MoU) to promote the development of the renewable energy sector and the energy transition to find effective solutions to various global energy challenges and achieve sustainable development, thus supporting governments and building a better future for future generations.
The MoU aims to support global efforts to develop the renewable energy sector and transform the use of energy by organizing joint events, launching and initiatives to share experiences, share successful experiences, explore the most important trends and new opportunities to support the future of energy, and devise solutions to its challenges, thus enhancing the readiness of governments for the future.
Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Teleworking Applications, said that the partnership between the World Government Summit and the International Renewable Energy Agency (IRENA) reflects the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
As a platform for global partnerships to create a better future for communities, we will support efforts and initiatives to advance the renewable energy sector and bring together stakeholders around the world to design and innovate solutions to achieve this goal.
Francesco La Camera, director-general of the International Renewable Energy Agency (IRENA), said energy transformation is key to rebuilding our economies in a sustainable and resilient way.
“Under this cooperation, both parties will promote the deployment of renewable energy by organizing meetings of key decision makers on energy, climate, policy and investment, ” he added, stressing that the cooperation is the cornerstone to address the world ’ s most pressing humanitarian issues.
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The UAE and other Arab countries are also working together to develop renewable energy, with targets such as 50% clean energy by 2050 and 40% clean energy generation by 2035.

China is also cooperating with Arab countries on clean energy, with the establishment of a clean energy training center and a Sino-Egyptian joint laboratory on renewable energy.

The Arab Coordination Group has allocated $10 billion for clean energy transition, with a strategic plan that includes mobilizing financial resources, reducing risk, and fostering innovation and new technologies.

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Content: ECONOMY
$10 billion from the "Arab Coordination" to support the transition to clean energy
Thank you for reading the news about 10 billion dollars from the "Arab Coordination" to support the transition to clean energy and now we start with the details
DAMMAM (Reuters) - The Arab Coordination Group (ACG) has announced the allocation of US $10 billion until 2030 to support a just transition to clean energy in developing countries.
The Group is represented by the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the Saudi Fund for Development, the Qatar Fund for Development, the Arab Fund for Economic and Social Development, the OPEC Fund for International Development, the Arab Bank for Economic Development in Africa, the Arab Gulf Programme for Development (AGFUND) and the Arab Monetary Fund.
This commitment is part of a seven-point strategic plan to accelerate the global transition to renewables.
Key points of the strategic plan
Key points of the strategic plan include (mobilizing financial resources and risk reduction tools, fostering innovation, adopting new technologies to maximize impact on energy efficiency and storage, supporting universal access to clean energy, enhancing climate resilience, encouraging collaboration and knowledge sharing, improving the skills of the global clean energy workforce, and monitoring and evaluating progress and impact).
This came during the hosting of the meeting of the Arab Coordination Group of National and Regional Development Institutions, which is held in conjunction with the launch of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in the United Arab Emirates, aimed at finding solutions to reduce the impact of climate change.
Strengthening development efforts
The meeting discussed a number of strategic objectives related to enhancing development efforts in developing countries, activating joint work among the Group ’ s institutions, and confirming its commitment to continue cooperation and coordination in supporting development projects to achieve sustainable development goals.
The meeting reviewed the positive impact of the development projects funded by the Group in many countries, which contributed to stimulating the main economic activities of the societies of the beneficiary countries and improving the lives of their residents.
He also discussed the recommendation to establish a digital platform for the exchange of information and communication between the members of the group, to follow up the implementation of projects and communication between experts
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Regional cooperation is essential in overcoming infrastructural challenges and promoting decarbonization and energy transition, with organizations such as the Eastern Mediterranean Gas Forum and the Arab Parliamentary Union facilitating cooperation.

The MENA region is expected to play a pivotal role in the global energy transition, with renewable energy investments accounting for 34% of electricity investment by 2026 and the region potentially generating 10-20% of the global hydrogen market by 2050.

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

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Grece, Cyprus and Israel strengthening their cooperation

The leaders of Grece, Cyprus and Israel expressed their commitment to strengthening the dynamic cooperation of the trilateral partnership platform in the joint statement they signed after the 9th Trilateral Summit held on Monday in Nicosia.

“Our engagement reflects our shared values and ever-increasing common interests, aiming to contribute to peace, stability, security and prosperity in the Eastern Mediterranean and the wider region,” according to the joint statement.

The three countries remain committed to welcoming other like-minded parties in the resolute effort to create and advance synergies, to the benefit of the countries and peoples, as well as of the region.

“We reviewed progress achieved in a multiplicity of cooperation pillars, which have been developing in the eight years since the inception of this Trilateral forum and reaffirmed our aim to propel collaborations in key domains, such as energy, defense, emergency response, environment, tourism, health, technology and innovation, and diasporas,” the statement said and added:

“We agreed that the energy sector, and in particular, natural gas, electricity and renewable energy, is a solid foundation for cooperation in the region, based on international law including the law of the sea and the respect of all states to exercise their rights in their respective EEZ/Continental Shelf.”

Addressing the global challenge of climate change, they agrees to reinforce efforts through regional cooperative projects, R&D, innovative energy technologies and promoting further regional energy connectivity.

“We also reaffirmed the value of the 3+1 format with the United States which can offer tangible deliverables, inter alia, in the areas of energy, economy, climate action, emergency preparedness and counterterrorism. It was agreed to work together towards holding a ministerial 3+1 meeting later this year.”

The three sides also expressed unwavering support for a just, comprehensive, and viable settlement of the Cyprus problem, based on international law and relevant UN Security Council Resolutions

The Saudi-African Summit has also enhanced cooperation and strategic partnership, with Saudi Arabia committing to support African countries' development and providing over $45 billion in development support.

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Content: Saturday, 11 November 2023 12: 27 GMT
Riyadh Declaration issued at the conclusion of the Saudi-African Summit
(MENAFN- Al Watan) The statement of the "Riyadh Declaration" was issued today at the conclusion of the Saudi-African Summit held in Riyadh, which reads as follows:
"Riyadh Declaration"
(Map of Saudi-African Cooperation)
Riyadh 26 / 4 / 1445H corresponding to 10 / 11 / 2023
At the kind invitation of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, King of Saudi Arabia, the Saudi-African Summit was held on 26 / 4 / 1445H corresponding to 10 / 11 / 2023 in Riyadh, Saudi Arabia, in order to develop relations between the two sides in various fields, enhance the bonds of joint cooperation, upgrade the strategic partnership relations between the two sides, and value the historical ties between them.
The leaders expressed their satisfaction with the atmosphere of fruitful dialogue and the consensus reached on views and visions and to move forward on a number of current regional and international issues, stressing that this summit represents an important historical turning point in the relations of African countries with the Kingdom of Saudi Arabia, the heart of the Islamic world, and that it will open wider horizons for the future of relations. development and development in all areas.
They renewed their commitment to strengthen cooperation between African countries and Saudi Arabia on the basis of strategic partnership, common interests and geographical, historical and cultural ties shared by the African continent with Saudi Arabia.
In turn, the Kingdom of Saudi Arabia stressed its historical ties with the African continent and its interest in developing its relations with all its countries in the political, economic, investment, trade, development, cultural and social fields.
The leaders of African countries praised Saudi Arabia ’ s early support for the African Union ’ s accession as a permanent member of the G20.
Political, security and military affairs and the fight against extremism and terrorism.
The participants discussed developments in the situation in Palestine and expressed their deep concern over the humanitarian disaster in Gaza.
They stressed the need for the cessation of military operations in the Occupied Palestinian Territory and the need to protect civilians in accordance with international law and international humanitarian law.
They stressed the importance of the role that the international community must play in pressuring the Israeli side to stop the Israeli attacks and the forced displacement of Palestinians from the Gaza Strip, which is a flagrant violation of international humanitarian law and international laws.
They stressed the need to allow international humanitarian organizations to play their role in providing humanitarian and relief assistance to the Palestinian people, including United Nations organizations, especially the United Nations Relief and Works Agency for Palestine Refugees (UNRWA), and to support their efforts in this regard.
The participants stressed the need to end the real cause of the conflict, represented by the Israeli occupation, and the importance of intensifying efforts to reach a comprehensive and just settlement to the Palestinian-Israeli conflict in accordance with the principle of the two-state solution, the Arab Peace Initiative and the relevant resolutions of international legitimacy to ensure the Palestinian people's right to establish an independent state on the 1967 borders with East Jerusalem as its capital.
The leaders also affirmed respect for the sovereignty of states, non-interference in their internal affairs, and good neighborliness based on the principle of equality, mutual respect and common interests among states in accordance with international law, and their determination to develop cooperation and coordination in defense fields.
They also discussed ways to enhance cooperation, coordinate efforts and exchange experiences in order to serve and achieve common interests, contribute to achieving security and peace in the world, take all necessary measures to prevent terrorist crimes in close cooperation among their countries, and promote work in the field of spreading the culture of moderation and tolerance, achieve security and peace and combat extremism, extremism and terrorism.
To intensify cooperation in the field of maritime security as one of the factors of stability and development of countries, and to contribute to the strengthening and safety of the maritime environment and joint action to combat organized crime, smuggling of narcotic drugs and psychotropic substances, money laundering and international smuggling networks, and address the situation of refugees, illegal migration, human trafficking and piracy of ships.
They noted that the Kingdom of Saudi Arabia has joined and chaired the focus group on African affairs of the international coalition against the terrorist organization Daesh, along with the United States of America, the Kingdom of Morocco, the Republics of Italy and Niger, and supported this group with US $2 million.
The participants praised the efforts of the Kingdom of Saudi Arabia to establish the Council of Arab and African States bordering the Red Sea and the Gulf of Aden.
in the economic, developmental, commercial and investment affairs.
The leaders stressed the depth of the historical relations between the Kingdom of Saudi Arabia and the countries of the African continent, where the Kingdom has provided over 50 years development support of more than (45) billion dollars in many vital sectors benefiting (46) African countries.
The leaders of the African countries praised the level of trade relations between the Kingdom and the countries of the African continent, where the volume of trade between them amounted to 45 billion US dollars for the year 2022.
They stressed the importance of continuing efforts to enhance trade and economic cooperation and encourage joint investments through diversifying bilateral trade and strengthening relations between economic institutions on both sides, pointing to the diverse economic components of the Kingdom and the African continent and the opportunities offered by the Kingdom ’ s Vision 2030 and the African Agenda 2063 to enhance cooperation in various fields. It serves the common interests between them.
The leaders agreed to strengthen economic relations between the two sides in the industrial and mining sectors, and to increase non-oil exports.
They welcomed the remarkable growth of trade exchange between them during the past five years, and the two sides noted the increase of Saudi non-oil exports to Africa at an annual growth rate of 5.96% during the period from 2018 to 2022 to reach 31.94 billion riyals by the end of last year. At the international level, it meets the leaders of mining and industry.
They welcomed the results of the high-level economic conference held on the sidelines of this summit, where more than 50 agreements and memorandums of understanding were signed in several economic fields such as tourism, investment, finance, energy, renewable energy, mining, transport and logistics, agriculture and water, communications and information technology.
He called for strengthening Saudi-African partnerships in the fields of energy, mining, agriculture and food security, financing sustainable development, supporting small and medium enterprises, developing manufacturing industries, promoting environmental trade, organizing regular meetings between exporters and importers in both sides, and discussing ways to strengthen relations with African countries by exploring investment areas and opportunities in light of the Queen ’ s Vision 2030. Saudi Development Bank will finance development projects in the African continent until 2030, amounting to about (18.75) billion Saudi riyals, equivalent to (5) billion US dollars, and will finance and secure exports from the Kingdom of Saudi Arabia to the African continent until 2030, amounting to (37.5) billion Saudi riyals equivalent to (10) billion US dollars.
In the field of energy, African countries stressed the Kingdom ’ s leading role, the role of the OPEC + Group in enhancing the reliability and stability of global oil markets and the need to ensure the security of supply for all energy sources in global markets.
They also looked forward to discussing areas of joint cooperation related to energy efficiency, electricity and renewable energy such as solar and wind energy, developing projects from these sources and working on localizing energy sector products.
They welcomed the Kingdom ’ s launch of the “Green Saudi Arabia ” and“ Green Middle East ” initiatives and their support for the Kingdom ’ s efforts in the field of climate change by applying the circular carbon economy approach, which was launched by the Kingdom and endorsed by the leaders of the G20 countries.
They looked forward to the implementation of these initiatives and stressed the importance of adhering to the principles of the Framework Convention on Climate Change and the Paris Agreement.
They stressed the importance of economic cooperation and joint investment between the Kingdom and African countries to achieve sustainable development and benefit from human resources and global supply chains.
The Kingdom encouraged Saudi companies and investors to increase quality investments in the African continent in various fields, and welcomed African investors and companies to take advantage of the huge investment opportunities provided by the Kingdom ’ s Vision 2030 and its giant programs and projects.
As part of the Kingdom ’ s joint efforts with African countries to develop the digital economy and facilitate access to digital solutions, and affirming the Kingdom ’ s leading role in sharing the most prominent successes of the private sector in the field of digital government, the Kingdom has launched the Digital Market Initiative (IMPACT), which focuses on countries sharing their successes in the field of digital government, enhancing access to digital services, improving quality of life and developing the digital economy.
This initiative reflects the Kingdom ’ s commitment to cooperate with African countries to promote digital development, exchange experiences and knowledge, enhance regional cooperation and achieve sustainable development goals.
Cultural, educational and civilizational communication.
The leaders stressed the importance of promoting civilized coexistence and human tolerance between the Kingdom of Saudi Arabia and the countries of the African continent.
They called for strengthening cultural cooperation between them in all cultural fields to contribute to the exchange of experiences and the preservation of cultural heritage, work to increase the organization of joint activities in the fields of sports and youth and create joint initiatives, and develop a joint strategic vision for Saudi-African media cooperation in the fields of news exchange, radio and television, media sector regulation, and the importance of empowering women to become active members of family and community. and civil society, their stability and knowledge of the history of the African continent, its ancient monuments and cultures, and common denominators between the two sides.
The leaders of African countries affirmed their support for the Kingdom ’ s candidacy to host Expo 2030 in Riyadh, and made every effort to support this candidacy.
The leaders welcomed the candidacy of Saudi Arabia to host the 2034 FIFA World Cup.
The Kingdom also welcomed the support of policies, plans and directions to develop the tourism sector in the African Union, in coordination with the United Nations World Tourism Organization and the African Union, and the provision of technical support to develop human capacities and educational institutions in the African Union and contribute to their development to achieve the desired benefit of the tourism sector to support comprehensive economic development in African countries.
in human and health matters.
The leaders of the African countries stressed the importance of strengthening food and medicine control in the African continent and increasing joint cooperation to promote sustainable development programs to improve the standard of living of the people of their countries, create new jobs, reduce poverty, provide food and reduce hunger according to a development plan based on the fields of human and agricultural development, health and quality human services.
The leaders approved the recommendations of the summit to form the four working groups (political, security, military, combating extremism and terrorism, economic, development, trade and investment, cultural, educational and civilizational communication, and humanitarian and health groups) and to hold their work within six months of the end of the summit to follow up on its outcomes.
The African leaders also expressed their sincere thanks and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for hosting this historic summit, which reflects the Kingdom ’ s leadership role in the regional and international arenas, and its respect in the international community.
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International cooperation and knowledge sharing can help Middle East countries achieve their energy transition goals, with organizations such as the International Energy Agency and the Arab Coordination Group providing technical support and financing.