World Bank: Arab, African Countries Among 'Best' in Developing Renewable Energy

World Bank: Arab, African Countries Among 'Best' in Developing Renewable Energy
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World Bank: Arab, African Countries Among 'Best' in Developing Renewable Energy

World Bank: Arab, African Countries Among 'Best' in Developing Renewable Energy

The World Bank has recently released a report, titled Regulatory Indicators for Sustainable Energy (RISE) 2018, in which it warned that the world, as a whole, is only about half way towards the adoption of advanced policy frameworks for sustainable energy.

This puts at risk the achievement of Sustainable Development Goal on Energy (SDG7) by 2030 and hinders progress towards the goal of keeping the rise in global temperatures to well below two degrees.

It follows the previous methodology of classifying countries into a green zone of strong performers in the top third, a yellow zone of middling performers, and a red zone of weaker performers in the bottom third.

The latest edition of RISE found that in the last decade the number of countries with strong policy frameworks for sustainable energy has more than tripled since 2010, with a dramatic increase in the uptake of renewable energy and energy efficiency targets.

It showed that from 2010 till 2017, the number of countries with strong policy frameworks for sustainable energy more than tripled from 17 to 59.

Strong performance in renewable energy policies has been distributed across all regions of the world and among different income groups.

The report said that the five countries that made the most progress in their policies in recent years and are from outside the Organization for Economic Cooperation and Development (OECD) including: the Ivory Coast, UAE, Rwanda, Jordan and Egypt. It also found that the world has seen a huge uptake in sustainable energy policies.

According to the report, it was noted that when the government is concerned with energy policies progress is achieved quickly.

Among the 133 countries in the index, countries where governments are concerned with sustainable energy sources made progress in RISE indicator by more than four percentage points, twice the average of the annual global growth rate.

Countries that have increased their electricity access rates the most since 2010 have also shown a concurrent improvement in electricity access policies. In countries with an electricity access deficit, policymakers are increasingly turning their attention to off-grid solutions to close the gap, the report explained.

This is illustrated by the soaring share of low-access countries adopting measures to support mini-grids and solar home systems from around 15 percent in 2010 to 70 percent in 2017.

In countries that have made progress on sustainable policies, the deteriorating fiscal position of national utilities is putting progress at risk.

Among countries with low access to energy, the number of utilities meeting basic creditworthiness criteria dropped from 63 percent in 2012 to 37 percent in 2016, the report said.



Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi said that the Advantage Oman Forum is a valuable opportunity offered by Oman to discuss and review investment opportunities and initiatives, as well as future transformations in promising sectors in this field.
This came during Albudaiwi's participation in the first edition of the Advantage Oman Forum, which was held under the patronage and attendance of Omani Deputy Prime Minister for Defense Affairs Sayyid Shihab bin Tarik Al Said, and in the presence of a number of ministers of the GCC countries, Sunday in Muscat. A group of senior officials and decision-makers participated in the forum, SPA reported.
The Secretary-General stated that Oman's Organisation of this forum reflects the insightful vision of the wise Omani leadership to strengthen the national economy and attract global investments, thus contributing to achieving sustainable development goals. He also praised the forum's activities and the workshops as well as the dialogue sessions it included, which provide the elements of success and sustainability for this forum, making it a regional and international platform and a destination for those interested in economic and investment affairs in Oman.
Furthermore, Albudaiwi added that Oman, with its attractive investment environment, advanced infrastructure, well-thought-out economic policies and significant economic, in addition to investment growth indicators, has become a destination for investors from around the world, stressing that this strengthens its position as a key pillar in the economies of the GCC countries and supports the council's aspirations for regional economic integration.
The Secretary-General concluded his statement by expressing his confidence that the forum will achieve positive results that will contribute to expanding the horizons of economic and investment cooperation between the GCC countries and the world, and support the comprehensive development process in the region.