COP27: Saudi think tank discusses net-zero carbon status with WEC, OIES
A Saudi expert has said the transition to green energy is costly and will take time, stressing the need to "keep all options open" to achieve the target of net-zero carbon emissions.
Speaking at a COP27 side event co-hosted with the World Energy Council (WEC) and the Oxford Institute for Energy Studies (OIES), President of the King Abdullah Petroleum Studies and Research Center (KAPSARC) Fahad Alajlan said, "The cost of the transition is significant, and it takes time. We need to be open to all solutions and all options that are available on the table to achieve the transition.”
Delivering the opening remarks during “The Road to Net Zero: Regional and Global Prospects” on Thursday, Alajlan highlighted the importance of informing policymakers and other stakeholders about the many pathways available to achieve the targets and goals.
For his part, Bassam Fattouh, Director of OIES, said this COP is important “because it is in Africa, and we need to hear the messages that come from the region."
He stressed the importance of the governments guaranteeing that everyone has access to electricity.
“Complex energy transitions cannot be managed by a single measure, but will require transparent, trustworthy approaches to deliver energy for the benefit of all humanity,” Secretary-General and CEO of WEC Angela Wilkinson said during the opening session.
The workshop included three sessions that discussed the climate roadmap in the Middle East, the extent of progress made by countries in reaching zero neutrality and adhering to the goals of the Paris Agreement, in addition to the best ways to accelerate the transformation in sectors that are difficult to mitigate.
The King Abdullah Petroleum Studies and Research Center (KAPSARC) is an advisory think tank within global energy economics and sustainability, providing consultancy services to the Saudi energy sector.
The Oxford Institute for Energy Studies is a world-leading independent energy research institute specializing in advanced research into the economics and geopolitics of the energy transition and international energy across oil, gas and electricity markets.
The World Energy Council is a global forum for thought leadership and tangible engagement with headquarters in London. Its mission is "to promote the sustainable supply and use of energy for the greatest benefit of all people".