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 are … Continue reading →
Despite the efforts of global society and scientists to reduce the dependency on oil and gas as a main source of energy and find new green and renewable energy sources, the oil remains the most effective one. The oil production rate has increased incrementally from the 1970s to the 2020s, which is driven by the demand for oil. A Global Problem The main problem with the dependence on oil and gas as a primary source of energy lies in the huge pollution caused by the industry. For example, oil enterprises and petroleum companies currently release about 2000 tons of chemicals … Continue reading →
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