Carbon Market in the Middle East

The Middle East and North Africa region is highly susceptible to climate change, on account of its water scarcity, high dependence on climate-sensitive agriculture, concentration of population and economic activity in urban coastal zones, and the presence of conflict-affected areas. Moreover, the region is one of the biggest contributors to greenhouse gas emissions on account of its thriving oil and gas industry. The world’s dependence on Middle East energy resources has caused the region to have some of the largest carbon footprints per capita worldwide. Not surprisingly, the carbon emissions from UAE are approximately 55 tons per capita, which is … Continue reading

CDM Projects in MENA Region

  The MENA region is an attractive CDM destination as it is rich in renewable energy resources and has a robust oil and gas industry. Surprisingly, countries in MENA host very few and declining number of CDM projects with only 23 CDM projects registered till date. The region accounts for only 1.5 percent of global CDM projects and only two percent of emission reduction credits. The two main challenges facing many of these projects are: weak capacity in most MENA countries for identifying, developing and implementing carbon finance projects and securing underlying finance.  The registered CDM projects in MENA countries … Continue reading

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