Bain & Company and the World Economic Forum have released a new report, “Closing the Climate Action Gap: Accelerating Decarbonization and the Energy Transition in MENA,” which provides an in-depth analysis of the region’s sustainability challenges and opportunities.
The report finds that MENA countries have demonstrated growing commitment to climate action through net-zero targets, but current pledges fall short, business adoption lags global peers, and consumers underestimate regional vulnerabilities.
Successfully transitioning to a sustainable future will hinge on bold measures from policymakers and companies, raising public awareness and establishing multi-stakeholder partnerships.
For businesses, the report outlines that this entails setting science-based targets, decarbonizing operations, deploying resilient planning, and mobilizing sustainable finance. For policymakers, it is imperative to establish clear climate regulations, enable access to technology and infrastructure, expand access to sustainable financing solutions, and facilitate access to education to grow talent.
The report also explores how a sustainable future depends on bold initiatives by policymakers, businesses and collaborative platforms. Clear regulations, access to financing, technologies and training, setting science-based targets, extending influence across value chains and public-private partnerships are pivotal.
Sustainability transition brings risks but also opportunities to build competitive advantage, with committed efforts from all stakeholders, MENA can lead globally.