MENA region emerging as key player in sustainable energy landscape

MENA region emerging as key player in sustainable energy landscape

Doha, Qatar: The Middle East and North Africa (MENA) is set to play a pivotal role in the energy transition as more than 130 countries agree to triple renewable energy capacity by 2030 at the 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly known as COP28.

With 100,000 attendees, COP28 was the largest UNFCCC meeting to date. Held at the sprawling World Expo site in Dubai, it ended with significant achievements but also saw unexpected failures regarding important topics. It formally launched the operationalisation of the historic Loss and Damage (L&D) Fund with funding pledges of about $0.7bn and adopted the Global Stocktake (GST) decision that includes a groundbreaking language regarding the weaning off fossil fuels.

However, COP28 also suffered setbacks, notably the deferral of crucial international carbon market agenda items under Article 6 and several adaptation-related topics, such as inability to take decisions on National Adaptation Plans and the Adaptation Committee report.

Alongside the formal negotiations, the conference saw the launch of several side deals and initiatives such as the Global Renewables and Energy Efficiency Pledge that seeks to triple the world’s green energy capacity to 11,000 GW in the next six years, thereby,