Gulf exceptionalism turning Middle East into rare M&A sweet spot

Gulf exceptionalism turning Middle East into rare M&A sweet spot

In order to avoid worsening the effects of climate change, governments must embrace carbon offsetting and the voluntary carbon market. This is especially true for Gulf Cooperation Council (GCC) countries, all of which have set ambitious climate goals to meet the Paris Agreement commitments.

The GCC countries – namely, Saudi Arabia, United Arab Emirates, Oman, Kuwait, and Bahrain – will need to need to do more to reduce carbon emissions to meet the Paris Climate Agreement goals, the landmark 2015 international treaty aimed at averting a further rise in global temperatures beyond 1.5 degrees (3.7 fahrenheit) above pre-industrial levels.

Carbon offsetting – the strategic reduction of emissions in one area to make up for emissions elsewhere that are hard to abate – will be key for the region moving forward, according to is report from global consultancy firm Bain & Company.