Building on last year's Paris Agreement, government leaders to business executives and financiers to organisations began sprinkling into Marrakech last week to discuss the way forward with climate change.
The Conference of Parties (COP) began in 1995, and Marrakech is the only Arab city to claim the host title twice since the event’s inception, 2001 and 2016. Leading up to this year’s COP22, the agreement struck in Paris last year entered into action at the start of the month (November 4).
The Paris Agreement sets out a plan to reduce carbon emissions which will prevent global temperatures from rising by more than 2°C. What is more significant than ever before is the business and finance community steadily picking up steam to work with government entities on this issue. It is no longer a humanitarian issue, but it is a business case.
Here are some comments from regional business leaders on what this year's conference means and the path forward. And if you're there, let's talk. I'll be on the ground in Morocco from November 11-15. You can reach me at lgraves@thenational.ae.
Marwan Abdulaziz, the executive director of Dubai Science Park
“These action plans usually have an impact on the private sector whether it is American or not. The company that can deliver the best technology or solution would be the winner. And we are on the hunt for these winners from around the globe.”
Mohammed Atif, the Middle East and Africa regional manager for the energy consultancy DNV GL
Will there be any standout delegations, sectors or companies? If so, why?
“Not sure. Although Saudi Arabia is full of surprises.”
Moving forward, where does the most opportunity exist?
“Middle East and Africa.”
Anita Nouri, the business development director at Green Energy Solutions and Sustainability in Dubai
“COP22 should encourage regional mitigation programs and help countries like UAE to voluntarily take up emission reduction targets and set up an regional market for moving this topic from a boardroom discussion to a reality.
“A great deal can be done on energy efficiency, waste management, waste-to-energy and renewables. The overwhelming problem of waste should also be highlighted and mechanisms to tackle this international issue must be put in place.
“We have the largest greenhouse gas mitigation project in the region and are moving to putting up one of the biggest waste-to-energy projects at our site. All efforts to help sustain these projects and bringing in recognition to the effort would help in spreading the word of success in waste to energy projects.”
Frank Wouters, the former director of Masdar Clean Energy and former chairman of Shams Power
“One should never forget that even 2C global warming implies massive disruption to the status quo. We are already seeing the devastating effects of climate change today, even though we are still far away from 2C. Having a global agreement is important, since it focuses decision making and avoids countries having to go alone.
“The energy sector is the largest economic sector on the planet and here we are seeing the most dramatic changes in history happening right now. The advent of new technologies and dramatic improvements in competitiveness of renewable energy has created hope that we can decarbonise our energy system quick enough to avoid climate chaos.
COP22 is a global platform to discuss cooperation and commitment and there are massive opportunities in the field of renewable energy. Especially in the GCC, most if not all commitments towards the Paris Agreement are linked to clean energy and energy efficiency.
The beauty is that renewable energy provides ample opportunity for economic diversification, something all GCC member states are now exploring. Opportunities lie in further electrification of our energy system (transport), the connection of national electricity grids into regional systems and new business models.”
lgraves@thenational.ae
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