The Middle East is transitioning to solar energy to reduce its dependence on oil exports.

Saudi Arabia has been at the forefront of this transition, with companies investing $3 billion in solar projects.

The UAE's Mohammed bin Rashid Al Maktoum Solar Park has a capacity of 5,000 megawatts.

The region aims to reduce carbon emissions and achieve climate neutrality by 2050 through improved energy efficiency.

The Arab Clean Energy Initiative targets 80 GW of renewable energy capacity by 2030, focusing on solar and wind.

The Middle East and North Africa region is ideal for solar energy production, receiving 22-26% of the world's solar radiation.

The region is expected to supply 10-20% of the global hydrogen market by 2050, generating $120-200 billion annually.

Egypt has launched a $120 billion green project, a National Climate Change Strategy 2050, and issued $750 million in green bonds.

The UAE has issued green bonds and sukuk to support climate neutrality and become a global sustainability hub.

Dubai aims for 75% clean energy by 2050, supported by the Dubai Green Fund.

The Islamic Development Bank has committed $4.5 billion to pandemic recovery and financed $3 billion in renewable energy projects.

The UAE aims to be a global sustainability hub with a $17 billion Green Bonds and Sukuk Market.

COP 28 yielded a landmark agreement to abandon fossil fuels, with the UAE and Saudi Arabia targeting zero emissions by 2050 and 2060, respectively.

The GCC has pledged $24 billion for green transformation, while the UAE requires $36 billion by 2030 to meet its climate goals.

Egypt has secured $84 billion in green hydrogen investments, expected to create new jobs in the Middle East.

The UAE aims to reach climate neutrality by 2050 through a low-carbon economy that offers economic growth opportunities.

Investing in renewable energy can yield financial returns and reduce climate change through new technology and innovation.

The Middle East is transitioning to solar energy to reduce its dependence on oil exports.

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Content: Land solar energy investment set off the "Middle East fever" total amount of nearly 100 billion
China's new energy investment set off the "Middle East fever", solar industry giants Jingke Energy, TCL Central almost at the same time announced cooperation with Saudi Arabia (Saudi Arabia) sovereign fund solar projects, a total investment of about 3 billion US dollars (about NT $97.5 billion).
In addition, inverter giant Sunlight Power announced the successful signing of the world's largest energy storage project with Saudi company ALGIHAZ, with a capacity of up to 7.8GWh.
Analysts pointed out that the above case means that in addition to the continued investment of Middle East funds in the mainland, in the solar industry is subject to overcapacity criticism, mainland funds choose to go to the Middle East to develop the solar industry.
Founded in 1971, PIF is one of the largest and most influential sovereign renewable wealth funds in the world. Its wholly-owned subsidiary, RELC, is one of the largest and most influential renewable wealth funds in the world. and a leader in green energy technology manufacturing.
Founded in 2021 by two major conglomerates, Abunayyan and Al Muhaidib, VI aims to build a new energy industry chain manufacturing capacity in Saudi Arabia to meet the huge demand for new energy in the Middle East and the world, and is an investor and developer of green energy industrial projects to support the localization of supply chains.
Among them, JinkoSolar ’ s joint venture company plans to set up a joint venture company in Saudi Arabia to build 10GW of high-efficiency batteries and components, with a total investment of 7.157 billion yuan.
JinkoSolar has a market share of more than 50% in the Middle East in 2023, including more than 70% in Saudi Arabia.
The joint venture company of TCL Central has an annual output of 20 GW of solar wafer projects in Saudi Arabia, with a total investment of about RMB15.1 billion.
It is also TCL ’ s first overseas solar wafer factory in Central.
After the project is launched, it will become the first solar wafer project in Saudi Arabia and the largest wafer factory in the world.
Vision Group ’ s joint venture will manufacture wind turbines and critical components locally. Helping Saudi wind power value chain achieve 75% localized production by 2030.
And Vision is the global wind power leader, overseas wind orders for two consecutive years accounted for 70% of the orders of mainland China's wind power enterprises.
At the same time, Sunlight Power also announced three sites in the Middle East energy storage project, in the Najran, Madaya and Khamis Mushait regions of Saudi Arabia, with deliveries starting in 2024 and full capacity grid operation in 2025.
However, Sun Power did not disclose the contract amount in the announcement.
TCL Middle East Wealth
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Saudi Arabia has been at the forefront of this transition, with companies investing $3 billion in solar projects.

The UAE's Mohammed bin Rashid Al Maktoum Solar Park has a capacity of 5,000 megawatts.

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Content: UAE strengthens its position in the solar energy sector
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Solar investments in the UAE have huge potential, driven by government subsidies, large government investments, supportive policies, an innovation-friendly environment, commitment to sustainability goals, increased energy demand and lower technology costs.
The UAE is a pioneer in the adoption of renewable energy sources and strives to make solar energy the cornerstone of the national energy system, with many global reports indicating that the UAE is one of the fastest countries in the world in the adoption of solar energy.
And in this regard...
A report by Mordor Intelligence International, for research and studies, predicted that the size of the solar energy market in the UAE will grow at a compound annual growth rate of more than 35% during the coming period, specifically until 2029.
The report stressed the importance of the UAE Energy Strategy, which aims to triple the contribution of renewable energy over the next seven years, and to inject national investments between 150 and 200 billion dirhams during the same period, in order to reach the targets of climate neutrality 2050.
He also predicted that the transformation in the field of renewable energy, specifically solar energy, which is a key player in the energy transformation strategy, will create many opportunities for the solar market in the UAE in the future.
According to another report from Mordor Intelligence, the global solar market is expected to grow at a rate of only 29% between 2024 and 2029, thus surpassing the global average.
The UAE has emerged as a major player in the global solar market in recent years, and has leapfrogged production rates over the past 10 years: from just about 12 megawatts of solar capacity in 2012, it has raised the figure at a staggering rate to more than 3,040 megawatts, according to the Energy Institute.
In 2022, the UAE emerged as a major player in the global solar energy market, ranking second in the world in terms of per capita solar energy consumption, according to the Statutory Review of World Energy.
S & P reported that the proliferation of solar PV as an abundant, low-cost and rapidly deployable technology has overshadowed the potential of wind in the Middle East, pointing to the UAE ’ s role in the region in the field of solar energy and the transition to clean energy.
Masdar is involved in the development of a number of key projects in the UAE, including Shams, the region ’ s first concentrated solar power plant, which was inaugurated in 2013.
It has also invested in a range of world-leading solar power plants, including the 2 GW Al Dhafra plant, the world ’ s largest single-site solar PV plant in operation.
Masdar has developed the third phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai and won the bid to develop the sixth phase of the project, which will have a total production capacity of 5 gigawatts and will be the largest in the world.
The Mohammed bin Rashid Al Maktoum Solar Park, implemented by DEWA, is the largest single-site solar park in the world under the IPP system and will have a production capacity of 5,000 megawatts by 2030, with a total investment of AED 50 billion.
When completed, the complex will reduce more than 6.5 million tonnes of carbon emissions annually.
At the end of March this year, DEWA ’ s production capacity from the complex reached 2,627 megawatts.
The fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park uses three common technologies to produce clean energy: a 600 MW parabolic trough system, a 100 MW CSP tower and 250 MW photovoltaic solar panels.
The Mohammed bin Rashid Al Maktoum Solar Park achieved two records for the world ’ s “highest concentrated solar power tower ” at 263.126 meters and the“ largest thermal energy storage capacity ” in the world with a capacity of 5907 MWh using concentrated solar energy using parabolic inverters and molten salt.
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The region aims to reduce carbon emissions and achieve climate neutrality by 2050 through improved energy efficiency.

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Content: Sunday 26 March 2023 Abu Dhabi UAE
Prayer times
News Highlights
Today 's Issue
Today 's Issue
The Role of Solar Energy in Changing the Future of the UAE ’ s Energy Sector
The Role of Solar Energy in Changing the Future of the UAE ’ s Energy Sector
March 26, 2023 02: 39
Othman Juma Al Ali *
The UAE has a huge potential in the field of solar energy, with more than 90% of its land area capable of producing solar energy efficiently, making it one of the leading countries in this field globally.
In recent years, the importance of balancing the three most important pillars in the energy sector has been highlighted: first, security, reliability and reliability of supplies and systems, second, economic and cost of electricity services, and third, environmental and sustainability requirements and standards.
These axes constitute the most prominent challenges facing the world today, despite the seriousness of efforts and intentions in the field of sustainability, but they remain the main priorities that cannot be compromised and must be taken seriously and carefully.
EWEC continues to drive the development of pioneering global strategic projects that will enhance the UAE ’ s journey towards a more sustainable future and make it a model for sustainable, efficient and efficient water and electricity production.
By 2030, we will see a 600% surge in EWEC solar power plants with installed capacity of 7.3 GW. During this period, the average CO2 intensity of electricity generation will be reduced by more than 40%. We will continue to invest in reverse osmosis desalination plants to increase the production of low-carbon water.
Abu Dhabi is currently home to the world ’ s largest single-site solar power plant, Noor Abu Dhabi, with a capacity of 1 GW (AC), and the Al Dhafra 1.5 GW (AC) solar PV plant, which will be the world ’ s largest single-site PV plant once it enters commercial operation, is under development.
The 1.5 gigawatt (GW) Al Ajban Solar PV Plant is our third solar PV plant and, once commercially operational, will generate enough electricity for 160,000 homes and reduce Abu Dhabi ’ s CO2 emissions by more than 2.4 million tonnes per year, equal in size and capacity to Al Dhafra Solar Power Plant.
Our growing portfolio of renewable and clean energy projects accelerates efforts to reduce and decarbonize the UAE ’ s energy sector, in line with the Strategic Initiative to Achieve Climate Neutrality by 2050, and supports the requirements to achieve the Department of Energy ’ s Clean Energy Targets – Abu Dhabi 2035.
Increasing solar power generation capacity is one of our top strategic priorities to achieve the country ’ s sustainability goals.
EWEC continues to lead the transformation of the energy sector and is responsible for ensuring the economic, sustainable and reliable supply of water and electricity in Abu Dhabi and the UAE.
In the next 10 years we will work to increase the production capacity of solar energy, we have the necessary solutions, and our latest report outlines the road map for its implementation.
Through innovation and collaboration, we will make solar energy the cornerstone of the UAE ’ s energy mix and contribute to the country ’ s strategic initiative to achieve climate neutrality by 2050.
* Chief Executive Officer, Emirates Water and Electricity Company
All rights reserved to Al Ittihad Newspaper 2023 ©

The Arab Clean Energy Initiative targets 80 GW of renewable energy capacity by 2030, focusing on solar and wind.

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

The Middle East and North Africa region is ideal for solar energy production, receiving 22-26% of the world's solar radiation.

Title:

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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The region is expected to supply 10-20% of the global hydrogen market by 2050, generating $120-200 billion annually.

Egypt has launched a $120 billion green project, a National Climate Change Strategy 2050, and issued $750 million in green bonds.

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Content: Egypt to launch $120 billion worth of projects during COP 27
Monday ، 08 August 2022 09: 00 AM
Climate Change - Archive
Names of Amin.
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The government has launched the first guide to environmental sustainability standards: the strategic framework for green recovery, to be one of the first countries in the region to green its investment plan, in addition to Egypt ’ s success in making significant progress in the transition to a green economy in various sectors.
A report by the Ministry of Planning and Economic Development revealed that Egypt is preparing to launch more than 20 green projects in five sectors, including electricity and renewable energy, transport, agriculture, water, oil and gas, with a total cost of more than $120 billion, at the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 27) in November.
The most ambitious steps taken in this context include the launch of the "National Climate Change Strategy 2050", as well as the readiness of the Egyptian state with all its agencies to launch the "National Hydrogen Strategy" and the issuance of green bonds worth $750 million, making Egypt the first country in the Middle East and North Africa to issue this type of bond, in addition to launching the Green Transformation Partners Coalition., which includes the most prominent Egyptian private sector companies in the fields of energy, transport, recycling of energy and waste, real estate development, sustainable finance, and civil work.
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The UAE has issued green bonds and sukuk to support climate neutrality and become a global sustainability hub.

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Content: Bonds and green bonds.
Sustainable financing for climate neutrality
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The UAE has intensified its efforts to face the consequences of climate change and environmental protection through systematic institutional work that includes all fields, in order to reach the requirements of sustainability, achieve climate neutrality and reduce emissions, as part of a continuous series of initiatives and decisions over the past years.
She has achieved leadership in the field of climate action, especially as she prepares to welcome the world to the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which will be held from 30 November to 12 December this year at Expo City Dubai.
Sustainable financing is one of the most prominent milestones in the UAE ’ s record of promoting environmentally friendly solutions.
The UAE has made significant achievements in this field over many years, becoming one of the most active countries in the region in the issuance of green bonds and sukuk, with a strategic goal of becoming a global center for sustainability by finding innovative solutions that contribute to the promotion of sustainable economic development to ensure a better future for present and future generations.
The UAE has demonstrated its firm commitment to sustainable environmental, social and institutional governance initiatives through its use of a variety of sustainable financial instruments.
Major entities contributed significantly to the UAE ’ s total ESG rated contributions of US $9.45 billion, underscoring the region ’ s commitment to sustainable financing and its vital role in addressing ESG challenges globally, among many other initiatives.
The UAE government ’ s interest in promoting sustainable financing solutions has been reflected in many initiatives through the issuance of green bonds and sukuk and the promotion of environmentally friendly financing loans, so that the size of the sukuk, bonds and green loans market in the country during the past years reached nearly 17 billion dollars, equivalent to 62.44 billion dirhams.
The UAE ’ s efforts in the field of sustainable financing solutions and the issuance of green sukuk and bonds are in line with the objectives of the “Road to Climate Neutrality ” axis within the“ National Sustainability ” campaign, which was recently launched in conjunction with the preparations to host COP28.
Initiatives
The UAE ’ s sustainable finance and green sukuk efforts are a continuum of global initiatives that explore the prospects for environmentally friendly financing solutions and develop strategies and plans to attract capital for innovative solutions to combat the effects of climate change.
Over the past years, the UAE has consolidated its position in the field of green finance solutions, starting to make a fundamental change in the finance sector and establishing strategic partnerships with the most important national institutions working in the field of investment and finance, in addition to developing appropriate policies and regulatory frameworks to stimulate the private sector to participate more in green projects.
The UAE ’ s initiatives in the field of sustainable finance have varied over the past period, most notably the Abu Dhabi Declaration on Sustainable Finance in 2019, which added another pillar to the country ’ s efforts to encourage investment in sustainable financial solutions through green sukuk and bonds.
The number of entities that have joined the Abu Dhabi Declaration on Sustainable Finance since its launch has reached more than 117 members, where members are working to create a thriving sustainable finance sector in addition to holding a constructive dialogue at the level of the sector locally and internationally, which lays the foundations for the sustainable finance sector in support of the UAE ’ s efforts to achieve the United Nations Sustainable Development Goals.
Sustainable financing framework
In 2021, the Green Bonds and Sukuk policy took a prominent turn in the National Framework for Sustainable Finance 2021, which is a regulatory framework for green funds and portfolios for climate change, and green bonds and sukuk linked to sustainability, which was an important step to channel capital to finance climate neutral transition projects.
This year, the Abu Dhabi Global Market (ADGM) announced the introduction of the regulatory framework for sustainable finance, which strengthens the market ’ s position as a leading center for sustainable finance and a local environment for sustainable finance activities.
The Dubai Clean Energy Strategy 2050 is one of the most prominent initiatives adopted by the UAE during the past period in the field of sustainable financing, which aims to produce 75 per cent of Dubai ’ s energy needs from clean sources by 2050.
The strategy included five main tracks: infrastructure, legislative structure, finance, capacity and competency building, and the deployment of a green energy mix.
The financing track was linked to finding financing solutions for investment in research and development related to clean energy and its applications, including the establishment of the Dubai Green Fund worth up to AED 100 billion, which will contribute through its financial resources to provide soft loans and financing tools to investors in the clean energy sector in the emirate at reduced interest rates.
Round table meeting
The Dubai Declaration on Sustainable Finance was subsequently launched during the 14th round table of the UNEP Finance Initiative (UNEP - FI).
The event was held in Dubai in October 2016, with the aim of highlighting the UAE ’ s sustainability efforts and commitment to supporting its transition towards a green and sustainable economy by establishing strategic partnerships with funding institutions that aim to bring about radical change, and helping organizations that actively contribute to finding innovative solutions to address the impacts of climate change.
A commitment.
The importance of sustainable finance in the UAE confirms its commitment to support the United Nations Sustainable Development Goals 2030, where the proactive approach of the UAE government ’ s plans was able to shape the sector with flexible and applicable tools, initiatives that collectively achieved the country ’ s goals of achieving climate neutrality, and encouraging investment and financing in environmentally friendly projects.
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Dubai aims for 75% clean energy by 2050, supported by the Dubai Green Fund.

The Islamic Development Bank has committed $4.5 billion to pandemic recovery and financed $3 billion in renewable energy projects.

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Content: ...
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Renewable Energy
IsDB President to Al-Arabiya: US $4.5 Billion Targeted Support to Member States
The Bank continues its economic recovery process and supports families affected by the pandemic
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The President of the Islamic Development Bank, Mohammed Al-Jasser, said that the bank is committed to more than $4.5 billion to deal with the Corona pandemic to restore the economic health of Muslim communities.
Al-Jasser said in an interview with Al-Arabiya that the bank is continuing the process of economic recovery and supporting families affected by the pandemic.
The most important projects financed by the bank over the past 46 years are infrastructure and energy projects, and now renewable energy takes up the largest part of the bank ’ s activities with more than $3 billion in financing, he said.
He pointed out that the Bank provides technical consultations to countries so that the projects are environmentally friendly, in line with the funding provided.
“In order to issue green sukuk, we have to have green projects.
This has helped to issue more than $5 billion in sustainable sukuk in the past four years and most of it currently funds green projects. ”
Al-Jasser expected more green sukuk to be issued in the region in the coming period, pointing to the bank ’ s issuance of $1.5 billion sukuk with a volume of $4.5 billion, and then the bank took $1.7 billion because the price was attractive.
“The high volume of demand reflects that there is a market for green sukuk and not just demand from Islamic financial institutions but from various institutions around the world, ” he said.
The transition from fossil energy to renewable energy requires huge investments, so we have now seen the announcement of a coalition of banks to provide $130 trillion in funding to the sector.
Al-Jasser said that the Islamic Bank is keen to cooperate with international institutions with similar activity to help in the transitional phase that needs financing, adding that the bank has begun to transform the method of financing and is issuing green sukuk.

The UAE aims to be a global sustainability hub with a $17 billion Green Bonds and Sukuk Market.

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Content: UAE launches evaluation report for its COP27 programme
UAE Green Bonds and Sukuk Market Sizes $17 Billion
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The Ministry of Climate Change and Environment (MOCCAE), as part of its participation in the COP27, held in Sharm El Sheikh, Egypt, organized a dialogue session, in cooperation with the Global Green Growth Institute (GGGI), on the UAE Green Bonds and Sukuk Program, during which it announced the new market valuation of this type of securities supporting sustainability.
The assessment report is part of the Ministry ’ s efforts to support the growth of sustainable finance in the UAE.
The size of the sukuk, bonds and green loans market in the UAE, during the past years, has reached nearly $17 billion.
The dialogue was moderated by Mercedes Villa Monserrat – Director of Sustainable Finance Abu Dhabi Global Market, with the participation of Eng. Essa Abdulrahman Al Hashimi, Assistant Undersecretary for Sustainable Communities Sector at the Ministry of Climate Change and Environment.
SOLUTIONS
“Finding innovative financing solutions is a key pillar in the efforts to promote sustainability practices across all sectors, in order to serve and enhance the UAE ’ s objectives in the climate action process and its orientation towards creating a low-carbon economic system and achieving climate neutrality, ” he said.
He added: “The UAE has made great strides in sustainable financing through the Dubai Declaration on Sustainable Finance, the Abu Dhabi Declaration on Sustainable Finance and the issuance of the National Framework for Sustainable Finance, and is one of the most active countries in the region in the issuance of green bonds and bonds.
The report pointed out that despite the start of issuing green bonds and sukuk during the past years, the concept and objectives are still not fully clear to the wider financial services community, and therefore, the report comes to fill the information gaps on this type of securities, by analyzing their current market situation, and working on the basic points required to define them, and recommendations on the required development mechanisms.
efforts
The preparation of the report is part of the efforts of the Ministry of Climate Change and Environment, as a follow-up to the launch of the UAE ’ s National Framework for Sustainable Finance (SFF) in January 2021, and in support of the promotion of low carbon, environmentally sustainable and climate-resilient investments.
The report was prepared in collaboration with all strategic partners, stakeholders from finance and securities issuers and investors to gauge the readiness of financial institutions and industry players in the UAE to issue and invest in green bonds, as well as the needs and priorities for the development of these bonds.
With the support and vision of its wise leadership, the UAE seeks to become a global center for sustainability by finding innovative solutions that contribute to the protection of the environment and promote sustainable economic development to ensure a better future for present and future generations.
In promoting sustainability, the UAE has witnessed the launch of the Dubai Declaration on Sustainable Finance in 2016, the Abu Dhabi Declaration on Sustainable Finance in 2019, and the National Framework for Sustainable Finance 2021.
One of the objectives of adopting green sukuk and bonds is to achieve mutual benefit for their issuers in the first place, by enhancing their reputation and confidence, by demonstrating their interest in protecting the health of the environment.
Thus, public health and the creation of a new economic tributary, characterized by attractiveness, according to the current market studies, in addition to enhancing their role in contributing to the achievement of the sustainable development system and the achievement of the United Nations Sustainable Development Goals, as well as benefiting investors and buyers of this type of securities.
The report examines the current methodology for issuing green bonds and sukuk, demonstrating their ability to provide comprehensive and cost-effective financing, as well as enhancing the outreach of entrepreneurs with financeable green projects to finance institutions.
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COP 28 yielded a landmark agreement to abandon fossil fuels, with the UAE and Saudi Arabia targeting zero emissions by 2050 and 2060, respectively.

Title:

Content: A new era of climate action
Good luck, Mr. Adele.
The 28th Conference of the Parties to Climate Change (COP 28) concluded in Dubai last December with a landmark agreement between the 198 parties, ushering in a new era of climate action.
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The final negotiations saw several landmark commitments on their agenda, including an unprecedented reference to switching away from fossil fuels in energy systems and tripling the capacity of renewables as part of the UAE agreement.
The World Bank has played a key role in moving the agenda forward, completing country climate and development reports for a total of 42 economies, pledging 45% of its annual funding for climate-related projects during fiscal year 2025, and being tasked with hosting the Losses and Damage Fund.
Some of the world ’ s largest oil producers have also made important announcements about their commitments to clean energy.
The event was a unique opportunity for GCC countries to reaffirm their commitment to green growth and the climate change adaptation agenda.
The Arab Coordination Group, a strategic alliance of regional and international development institutions, announced its intention to allocate US $10 billion until 2030, in line with the group ’ s previous pledge of US $24 billion to support the green transformation.
In recent years, GCC countries have announced national targets and ambitious regional initiatives to address climate change.
These include the UAE and Oman ’ s commitment to achieve zero emissions by 2050; Saudi Arabia ’ s commitment to achieve zero emissions by 2060; and the Green Middle East Initiative.
Many have also joined the Global Methane Pledge (an international effort to reduce methane emissions by a minimum of 30% by 2030) and invested in programs that support low-carbon technologies such as green hydrogen, a circular carbon economy, increased participation in carbon markets, and local energy efficiency initiatives, to name a few.
The private sector plays a crucial role in the success of climate initiatives in the GCC by pushing for a low-carbon transition and attracting green investments.
Transforming resource consumption, energy production, manufacturing processes and other economic systems will require significant investment to meet climate targets.
For example, the UAE ’ s Nationally Determined Contributions (NDCs) estimate its investment needs to be close to $36 billion between 2023 and 2030 to meet the climate goals.
The International Energy Agency (IEA) estimates that investments in renewable energy reached a record $1.7 trillion in 2022, up from $530 billion in 2021, with a large portion coming from the private sector.
Sustained public sector commitment is also needed in tandem, with concrete policy interventions to drive change at the speed and scale needed to address environmental challenges and support a low-carbon transition.
Among the first of these actions, green growth must be integrated as a national policy that contributes to shaping the future in all relevant sectors; energy, water, food security, urban planning and services, among others.
Rapid green growth across sectors – including renewables, energy storage, electric vehicles, green buildings, the circular carbon economy and waste recycling – provides opportunities for skilled jobs, productivity growth and economic diversification and transformation.
IFC estimates that supporting low-carbon investments in 10 key sectors in 21 emerging markets will generate $10.2 trillion in investment opportunities, create 213 million jobs and reduce greenhouse gas emissions by 4 billion tons by 2030.
In order to fully benefit from these benefits, GCC countries will need sustainable national commitments to these priorities, climate strategies, access to finance for businesses, and an enabling environment for green investment.
The World Bank estimates that if GCC countries continue to operate as usual, their combined GDP will reach $6 trillion by 2050.
However, implementing a green growth strategy would accelerate its economic diversification and possibly contribute to increasing its GDP to more than $13 trillion by 2050.
The Gulf Cooperation Council (GCC) countries are pursuing ambitious targets to generate electricity from renewable sources.
For example, Saudi Arabia aims to get 50% of its energy mix from renewable energy by 2030, while Oman aims to secure 30% of its electricity from renewable sources by 2030.
The UAE, which already has three of the world ’ s largest and least expensive solar plants, has announced a roadmap for hydrogen leadership, and Abu Dhabi National Oil Company (ADNOC) plans to sequester 10 million tonnes of carbon dioxide annually, in addition to ambitious investments in renewable energy.
In addition, the GCC is moving towards development strategies geared towards the use of public transport with the opening of mass transit systems in Dubai and Doha, which are nearing completion in Riyadh.
The GCC countries are well positioned to contribute to the global transition to a low-carbon economy, balancing energy security and the deployment of renewable energy sources for a zero-carbon future.
It is able to become a leader in the Middle East and North Africa region and the world, by investing its resources and capabilities towards a better climate and a livable planet.
Safaa Al-Tayeb Al-Koogli, World Bank Director in the Gulf Cooperation Council.
Syed Adil Abbas, Regional Climate Change Coordinator for the Middle East and North Africa at the World Bank

The GCC has pledged $24 billion for green transformation, while the UAE requires $36 billion by 2030 to meet its climate goals.

Egypt has secured $84 billion in green hydrogen investments, expected to create new jobs in the Middle East.

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Content: Egypt News
84 billion investments in Egypt.
Details of the largest dollar deal in the coming period
Egypt faces many economic challenges over the past years, and within the framework of the Egyptian government ’ s search for solutions and overcoming difficulties, the ministers of planning, economic development, finance, international cooperation, and the Postal Authority succeeded in concluding important deals and agreements to achieve a dollar return, while the Egyptian Post achieved a surplus of profits exceeding $4 billion.
9 agreements worth $84 billion
For her part, Dr. Hala Al-Saeed, Minister of Planning and Economic Development, participated in the side event organized by PepsiCo, in cooperation with the League of Arab States entitled “Unlocking Opportunities in the Middle East.
Transition to renewable energy ”, which was held on the sidelines of the United Nations Climate Change Conference “COP28 ′ ′, held in the UAE.
She stressed that the transition to renewable energy is not just an environmental necessity but has many benefits, as it is a strategic opportunity for the Middle East to create a diversified economy, enhance its global competitiveness, create new jobs, and exploit the region ’ s abundant renewable energy resources to export clean energy to the world and not just local sufficiency.
During her remarks at the conference, Al-Saeed revealed that 9 framework agreements worth $84 billion for the production of green hydrogen with regional and international developers, in addition to 22 memorandums of understanding with relevant government stakeholders and major international developers, to develop a green hydrogen seamless, including renewable energy, electrolysis facilities, and green fuel production.
The Minister of Planning pointed out that the government is actively promoting green data centers and attracting investments to facilities that use renewable energy sources in order to reduce energy consumption and operating costs that consume a lot of fuel.
Minister of Finance Mohamed Moait stressed that the transformation of the green economy, adaptation to climate change and flexible dealing with it in light of the current global economic challenges, requires new financing tools and large investment flows for emerging economies, with the need to take into account the social and environmental dimensions and sustainability standards to meet future and current needs.
Maait explained, in his meeting with representatives of HSBC banks.
On the sidelines of the climate summit held in the United Arab Emirates, we look forward to a greater role for global banking institutions in supporting the development goals of emerging economies by pushing for huge investments that contribute to improving the lives of citizens and improving the level of services provided to them.
Dr. Sherif Farouk, Chairman of the Board of Directors of the National Postal Authority, said that the Board of Directors approved the budget of the Authority for the fiscal year 2022 / 2023 with a net surplus of 4 billion and 422 million pounds.
During the past three years, the Authority has succeeded in achieving many achievements at all levels, where financial inclusion and digital transformation have been applied to all procedures and transactions, which contributed to improving the quality and diversity of services, developing existing post offices and establishing new post offices along with mobile post cars and post kiosks. With the continued support of Dr. Amr Talaat, Minister of Communications and Information Technology.
The conference, which was held in Dubai, discussed strengthening cooperation between the government and the World Bank, as the latter seeks to consolidate its role as a knowledge bank in the field of development and expand partnerships to address the global challenges that are expected to occur in the future, especially climate change.
The discussions at the conference dealt with strengthening the role of the World Bank in the field of financing for development and climate action in member countries, and ways to strengthen the role of the Bank in addressing the challenges of development, eradicating poverty and enhancing shared prosperity in developing and emerging economies.
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The UAE aims to reach climate neutrality by 2050 through a low-carbon economy that offers economic growth opportunities.

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Content: UAE leadership in reducing carbon emissions and transitioning to a green economy
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The UAE has stepped up its efforts to launch sustainable initiatives to facilitate the world ’ s transition towards a low-carbon green economy, a key pillar of the country ’ s preparations to host the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in November, reflecting the UAE ’ s efforts and leadership role in combining economic growth with sustainability and low carbon emissions.
Experts and specialists stressed that the transition to a low-carbon economy is a great opportunity for economic growth and sustainable development around the world, especially as emissions lead to negative impacts on all inhabitants of the planet, stressing the need for concerted international efforts to develop effective solutions and improve coordination to ensure that all countries move forward in the transition to a low-carbon economy.
On the sidelines of the second edition of Investopia 2023 in Abu Dhabi, the experts added that the UAE continues its efforts to reach climate neutrality by 2050 in line with the vision of the wise leadership to achieve a sustainable green economy, by involving the private sector in reducing greenhouse gas emissions, adapting to climate change and promoting sustainable practices....
Recent reports by international institutions indicate that climate change poses a major long-term threat to the global economy, stressing the need for countries to meet their climate commitments and transition to a green economy while achieving their development goals and laying the foundations for a low-carbon economy.
Adib Ahmed, Managing Director of Lulu Financial Group, stressed that the transition to a low-carbon economy is not only an environmental issue, but also a huge economic opportunity for countries around the world, noting that investing in renewable energy and clean technologies contributes to significant financial returns, as well as reducing harmful emissions and mitigating the effects of climate change.
Stefan Heller, co-founder of AlphaQVC, said that new technology and innovation are one of the key factors to contribute to reducing climate change and reducing emissions, which is a major challenge for the entire world, noting that if the world is to shift towards a low-carbon economy, everyone must work together to invest in new technology.
Nardus Bekele Thomas, Director General of the African Union Development Agency, stressed the need to address climate change through effective solutions to support local low-carbon sectors and pilot projects in various countries of the world to contribute to building a successful green economy model.
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Investing in renewable energy can yield financial returns and reduce climate change through new technology and innovation.