UAE leads GCC economies in carbon economy index

UAE leads GCC economies in carbon economy index

The UAE has ranked highest among GCC economies and 12th overall in a new index that focuses on how countries are currently managing their energy and emissions, and how they are positioned to progress toward circular carbon, or net-zero, economies. In the first edition of the Circular Carbon Economy Index, the GCC countries rank from 12th to 27th out of 30 countries. Norway, the UK and Germany lead the rankings. Saudi Arabia ranks 15th, while Qatar is 16th on the index. Kuwait is placed 20th, and Oman is 27th. Iraq, Nigeria and Algeria wrap up the bottom three. While Gulf economies have set individual targets to cut down on emissions, there are also several opportunities for the countries to cooperate for joint emission targets, a study based on the index said on Monday. Carbon capture, utilisation and storage could be one such initiative, along with hydrogen exports, the study titled “The Gulf Cooperation Council and the Circular Carbon Economy: Progress and Potential” said. Released by the King Abdullah Petroleum Studies and Research Center (KAPSARC), the study comes at a time when efforts are on to align economic growth and prosperity with globally agreed climate goals in the region. The next