How Does The Middle East Fit Into The Green Economy Picture
The term sustainably has a variety of meanings and implications. It covers everything related explicitly to climate change, ecological services, net-zero emissions, waste treatment, and the effects of an expanding industrialized society. The market for renewable energy and environmental sustainability is changing dramatically. 2022’s new sustainable themes and companies’ efforts worldwide to combat environmental issues are making this green change more obvious. ESG investment is dominating the financial sector. States and governments are forcing companies to provide data on their power consumption and carbon emissions.
The Middle East region finds itself at the center of the global energy transition. 37% of the oil used in the world is being produced in this divergent region. The Arabian Gulf has rich sources of natural reserves, presenting 45% of the world’s gas reserves and 65% of the oil resources. Following are the four top sustainability themes of 2022. Continue reading to explore the Middle East’s contribution toward a green transition.
A Transition To Completely Electric And Digital Infrastructure
The entire world is making efforts to operate electronically. A world without fossil fuels will require governments to provide the infrastructure to store renewable energy and promote the use of hybrid cars among consumers. As part of this all-electric theme, the governments of the Middle East, especially Dubai and Saudi Arabia, are developing plans for sustainable transportation, green infrastructure, smart cities, and e-government operations.
On The Verge Of Accepting Sustainable Products
One of the major themes in the sustainability plan for 2022 is promoting sustainable or green products. In the near future, customers may expect to consider sustainable products a must. On the other hand, research shows that 54% of Gen Z analyze a company’s environmental initiatives or programs before deciding whether to use their services or buy their products. It is reasonable to anticipate that all consumer goods, including food, clothing, and lifestyle items, will become more environmentally friendly.
More Renewable Energy Initiatives And Programs To Improve Society and Air Quality
Another sustainable trend for 2022 is investments in the production of clean energy, climate-clean mitigation activities, or the conservation of resources. Similarly, the Middle East is home to several innovative initiatives using renewable energy. During the past 15 years, the UAE has invested over $40 billion in sustainable energy projects. Further, the Middle East plans to spend $182 billion on renewable energy by 2025.
A Hybrid Work Environment To Reduce Carbon Emissions In The Workplace
Last but not least, working remotely is another intriguing sustainability trend. During COVID-19, working from home became increasingly relevant, which proved to be beneficial for the environment. Numerous businesses are preparing to use a hybrid work arrangement that not only benefits their staff but also reduces their overall emissions output. The hybrid work system is also becoming popular in the Middle East because 90% of employees in the UAE choose to operate either from home or in hybrid work culture. Thus, it will reduce the number of individuals who regularly commute to work, lower travel expenses, and cut emissions.