North Africa: policies and finance for renewable energy

The GCC countries are some of the world’s most significant fossil fuel producers and exporters, and are among the world’s largest per capita emitters of CO2. However, this report shows that renewable energy deployment is growing in the region; albeit the share of renewables in the electricity mix of the GCC region remains negligible, accounting for only 3% of the region’s generation capacity in 2022. The energy transition, including renewable energy deployment, presents the region with opportunities for climate change mitigation and adaptation as well as economic diversification. Climate vulnerability is high in the region, reinforcing the importance of urgent climate mitigation and adaptation actions in which renewable play a critical role. The GCC has a solid energy infrastructure that can be leveraged and built on for increased shares of renewables. Domestically, investments in renewables in the GCC are expected to reach new heights in the years to come following COP28. While the region’s past has clearly been shaped by fossil fuels, its future may well be shaped by renewables