Saudi Arabia Achieves Top 20 Ranking in KAPSARC's Circular Carbon Economy Index
Saudi Arabia is listed in the top 20 of the 2023 Circular Carbon Economy (CCE) Index, showcasing global rankings where countries have largely improved from the last year but still display a significant divide in performance.
Unveiled by KAPSARC at COP28, the Index evaluates 64 countries, accounting for 90% of the world's economy, on their commitment to net-zero emissions and circular carbon economy adoption.
Norway secured first place for sustainability, followed by the UK, Netherlands, Canada, and Germany. KAPSARC's climate expert, Fatih Yilmaz, noted an increased focus on essential technologies like carbon capture and hydrogen for net-zero strategies. However, he warned of the widening accessibility gap to sustainable finances and clean technologies which may hinder a smooth transition.
The 2023 rankings show that frontrunners are effectively using technologies to prevent carbon emissions, including renewables and nuclear, along with cutting-edge solutions like clean hydrogen. These nations also excel in policy, funding, and business environment, establishing global best practices.
In contrast, lower-ranking countries such as Ethiopia and Nigeria face obstacles in adopting clean technologies, primarily due to financial and technological limitations, highlighting the urgency for global cooperation to eliminate these disparities.
The CCE Index has two sub-indices: CCE Performance and CCE Enablers. Nations are scored from 0 to 100 on both, with the combined scores reflecting a country's transition progress and readiness to implement CCE, including factors like policy and technology.
Norway secured first place for sustainability, followed by the UK, Netherlands, Canada, and Germany. KAPSARC's climate expert, Fatih Yilmaz, noted an increased focus on essential technologies like carbon capture and hydrogen for net-zero strategies. However, he warned of the widening accessibility gap to sustainable finances and clean technologies which may hinder a smooth transition.
The 2023 rankings show that frontrunners are effectively using technologies to prevent carbon emissions, including renewables and nuclear, along with cutting-edge solutions like clean hydrogen. These nations also excel in policy, funding, and business environment, establishing global best practices.
In contrast, lower-ranking countries such as Ethiopia and Nigeria face obstacles in adopting clean technologies, primarily due to financial and technological limitations, highlighting the urgency for global cooperation to eliminate these disparities.
The CCE Index has two sub-indices: CCE Performance and CCE Enablers. Nations are scored from 0 to 100 on both, with the combined scores reflecting a country's transition progress and readiness to implement CCE, including factors like policy and technology.
