Energy Pathways: Towards A Low-Carbon Future In The GCC
November 3, 2021 by GE
Leadership on the global stage today is difficult without a strong agenda to contribute to a low-carbon world. The Gulf Cooperation Council (GCC) countries have increased efforts to decarbonize their economies but there is an urgent need to further accelerate these efforts. For countries in which extraction of hydrocarbons is the mainstay of the economy, the road to net zero is far from clear cut. Even by 2050, hydrocarbons are expected to comprise about half the power generation capacity in Saudi Arabia and the UAE.
Join The Economist Events for Energy Pathways: Towards a Low-Carbon Future in the GCC event, sponsored by GE. The event covers engaging discussions with leading actors in the power sector, mapping out the pathways to a low-carbon energy future in the GCC.
Opening remarks by moderator
Vijay Vaitheeswaran, Global Energy and Climate Innovation Editor, The Economist
Discussion - Energy transition priorities
We present thought-provoking perspectives on viable decarbonization pathways for the power sector in the GCC, providing views on how to address the energy trilemma of supplying more reliable, affordable, and sustainable electricity, in a region where the demand for power continues to increase.
We explore the following:
- How are the GCC countries looking to decarbonize the power sector, while maintaining affordable and uninterrupted supplies of electricity? How does the energy transition in the GCC compare with that in other parts of the world?
- What challenges and opportunities is the region facing as it considers low-carbon energy options? We will explore challenges and opportunities with infrastructure, employment and the region’s economic reliance on oil and gas.
- Beyond power generation, what policies do the GCC states need to adopt to enhance power transmission, distribution and consumption?
Scott Strazik, CEO, GE Power
Jean-Marie Dauger, Chair, World Energy Council
In a compelling format, the keynote interview provides the audience with insights into the strategic thinking on energy futures in the Kingdom of Saudi Arabia.
HRH Prince Abdulaziz bin Salman Al-Saud, Minister of Energy, Kingdom of Saudi Arabia
Discussion - Financing tomorrow’s energy
This panel discussion delves deeper into the financing landscape for the power sector in the GCC. The discussion explores the following:
- What is the role of finance in accelerating the energy transition in the GCC?
- How are financiers evaluating low-carbon power generation projects and ensuring sufficient funding for transition fuels?
- Are there any successful strategies adopted in other parts of the world that provide important lessons for the GCC countries?
- What is the role of the private sector in accelerating decarbonization and what changes to the regulatory framework will be required to incentivize their participation?
Lina Osman, Regional Head of Sustainable Finance for MEA, Standard Chartered
Craig O’Connor, Renewable Energy & Environmental Exports Officer, US EXIM
Wrap up and closing remarks