Financial institutions hold key to helping Mideast reach net-zero, says report

RIYADH: As Middle Eastern countries are set to face funding gaps in achieving their energy transition goals, regional regulators, development banks, and financial institutions hold the key to reaching net zero in the region, noted Boston Consulting Group in its latest sustainability report. 

The group said out of the six Gulf Cooperation Council countries only Saudi Arabia, the UAE and Bahrain have made clear decarbonization commitments, but even they face funding gaps as the amount needed to achieve national net-zero goals is “enormous.”