Going Green: Unlocking the Renewable Energy Potential
The majority of countries within the MENA region have already developed strategies, visions, and projects for a clean energy transition, to decarbonize their economies and set fixed ambitions to help achieve carbon neutrality in the upcoming decades. However, the energy transition is still in its early stages. For instance, only 4% of power generation within the region is currently sourced from renewables. At present, the irregular post-pandemic recovery and strong economic repercussions due to the conflict in Ukraine, risk moving the trajectory of the global energy transition into the background. The current energy crisis and the quest for oil and gas diversification threaten to derail the path set towards a greener future. This threat is far more serious in a region that will be one of the most affected by the consequences of climate change. The MENA region has enormous potential for the development of renewable energies, a means by which to tackle climate change adaption, its mitigation and abate CO2 emissions. Nevertheless, this potential remains largely untapped.
How to unlock the renewable energy potential of the MENA region? What are the main obstacles and barriers to be overcome? How can intraregional cooperation and partnerships between the northern and the southern shores of the Mediterranean help to scale up investments and accelerate the energy transition? How to ensure a just and inclusive transition for the people in the broader Mediterranean region?
