GCC to maintain leading role in global energy markets: Report

GCC to maintain leading role in global energy markets: Report

Muscat – GCC countries are poised to maintain a key role in the global energy markets by exploiting their cost-effective renewable energy potential, spurring investment, and expanding innovation, according to a report released by International Renewable Energy Agency (IRENA). Describing the progress of renewable energy in the GCC countries, IRENA’s report highlights renewables as climate […]Muscat – GCC countries are poised to maintain a key role in the global energy markets by exploiting their cost-effective renewable energy potential, spurring investment, and expanding innovation, according to a report released by International Renewable Energy Agency (IRENA).

Describing the progress of renewable energy in the GCC countries, IRENA’s report highlights renewables as climate mitigation and economic diversification opportunity for the Gulf countries.

Renewable Energy Markets: GCC 2023 Report suggests that GCC countries can leverage existing resources to develop innovative renewable energy-based solutions not only to mitigate climate change, but also to diversify their economies, create jobs, and reduce environmental impacts of the energy sector.

As the UN Climate Change Conference (COP28) is underway in the heart of the GCC in Dubai, this report serves as a resource and reference point for policymakers, businesses and civil society in harnessing the region’s vast renewable resource potential.

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