Climate industry experts came together and outlined the pressing need to develop CCS initiatives across the MENA region.

In the GCC panel event titled “The Critical Role of CCS in a ‘Net Zero’ World,” the spotlight was on Carbon Capture and Storage (CCS), an imperative component for achieving the Paris Agreement’s climate goals.The panellists discussed the critical role CCS could play in achieving net zero in the MENA region and how to accelerate the implementation of these breakthrough initiatives by industries.

 

GCC hosted the event to further explore effective means to bolster low-emission development strategies within MENA – a carbon intensive region. Moderated by GCC’s COO, Kishor Rajhansa, the panel featured climate experts including Subhendu Biswas, Director at GCC, Dr. Mohammad Abu Zahra, Head of MENA Region, CCUS Institute and Paul Zakkour, Director at Carbon Counts.

The discussion firmly appealedto major players holding the necessary natural and technical resources to scale CCS efforts. The panellists also discussed how governments across MENA could work constructively to develop the policy frameworks and regulatory incentives to promote the use of CCS technologies and ensure it is a major part of the climate solution.

The Global Carbon Council is developing the methodology for accounting of carbon emissions reduction by projects using CCS technology, as a critical means to help channel carbonfinance into this area of climate action. The methodology is expected to be launched soon for public consultation.

Kishor Rajhansa, Chief Operating Officer at GCC, commented: “CCS technologies have a vital role to play in helping the world achieve net zero emissions. We brought together leading climate experts during MENA Climate Week to build consensus on how we could accelerate the development and implementation in the MENA region. It is an exciting time to host this conversation as GCC is soon to launch its new methodology for accounting carbon emissions reduction by CCS projects.”

Dr. Yousef Alhorr, Chairman of GCC, commented: “With the upcoming launch of the GCC’s methodology for accounting carbon emissions for CCS projects, our goal is to expedite the development of CCS initiatives in the MENA region and beyond. MENA Climate Week laid the groundwork for further cooperation on CCS initiatives, and with COP28 fast approaching, there is an unparalleled opportunity to realise the potential of innovation and investment in this area to combat climate change.”

The panel comes at a pivotal moment when the world’s attention is turning to COP28 organized in MENA and the key issues that governments will need to find solutions on to deliver the ambitions of the Paris Agreement. The advancement in the implementation of CCS technology is expected to feature at COP28 with a recent study by the International Energy Agency (IEA) concluding that CCS is one of the key pillars to achieve net zero by 2050.

The GCC panel event, titled: “The critical role of CCUS in a ‘Net Zero’ world in the MENA region”, took place 9th October 12.30pm – 13.30pm at Al Jouf, Riyadh, Saudi Arabia.

GCC is the first international carbon credit and sustainable development program based in the Global South that contributes to a more sustainable and low-carbon future by issuing carbon credits to projects around the world that ensure additionality in emission reductions and support sustainable development.