MANAMA, Jan 27 (KUNA) -- Secretary General of the Gulf Cooperation Council (GCC) commended Bahrain's hosting of the Sustainability Forum Middle East, saying it reflects the paramount importance GCC member states accord to climate and energy challenges.
Jasem Al-Budaiwi made these remarks on Tuesday during his participation in the fourth edition of the forum in the presence of Bahrain's Minister of Oil and Environment Dr. Mohammad bin Mubarak and several high-ranking officials and global experts.
The Council member states have taken pioneering steps at both national and regional levels by adopting policies aimed at diversifying the energy mix, enhancing energy efficiency, and investing in clean energy and hydrogen technologies, alongside the implementation of Circular Carbon Economy (CCE) principles," Al-Budaiwi stressed.
Furthermore, Al-Budaiwi extended his profound gratitude to King Hamad bin Isa Al Khalifa, the King of the Kingdom of Bahrain and current President of the GCC Supreme Council, for hosting the forum.
He further commended the backing and facilities provided to ensure the success of the Council's initiatives, while lauding the immense dedication and attention directed toward joint Gulf action across all fields, by Bahraini King and his brothers, the leaders of the GCC member states.
"While the world faces unprecedented challenges due to climate change and increasing pressures on water and energy resources, the GCC is working under the leadership of its heads of state to transform these challenges into strategic opportunities," Al-Budaiwi explained.
He emphasized that the GCC remains at the vanguard of global efforts to achieve a sustainable transition, recognizing these sectors as the fundamental pillars of sustainable development and human security.
Al-Budaiwi said "The United Arab Emirates (UAE) aims for 44 percent clean energy and Net Zero by 2050, while Bahrain plans to transition 20 percent of its energy to renewables by 2035 and achieve carbon neutrality by 2060." Simultaneously, the Kingdom of Saudi Arabia targets a 50 percent share of renewable energy by 2030 and Net Zero by 2060, whereas the Sultanate of Oman aims for 30 percent renewable electricity by 2030 and Net Zero by 2050, he added.
He also clarified that the State of Qatar seeks to fulfill 20 percent of its energy requirements through renewables by 2030, and the State of Kuwait targets 15 percent renewable electricity by 2035 with a goal of Net Zero by 2050.
He pointed out that these efforts represent a fundamental cornerstone in achieving the global goal of tripling renewable energy capacity, in alignment with the outcomes of COP28.
"This transition requires significant capital, with estimates indicating that annual clean energy investments in the Middle East and North Africa (MENA) region are projected to rise from approximately USD 26 billion currently to nearly USD 63 billion by 2035," he explained.
In closing, Al-Budaiwi reaffirmed that the GCC countries possess the political will, capabilities, and institutional frameworks necessary to play a leadership role in this trajectory and move forward toward achieving their climate and developmental objectives.
He expressed his hope that the forum would yield qualitative recommendations that contribute to propelling regional and international efforts toward a more sustainable and prosperous future. (end) khna.ahs