RIYADH: Transitioning to a net-zero carbon world will be expensive and take time, the president of the King Abdullah Petroleum Studies and Research Center warned on the sidelines of the UN’s Climate Change Conference in Egypt.
Speaking at an event co-hosted with the World Energy Council and the Oxford Institute for Energy Studies in Sharm El Sheikh, Fahad Alajlan highlighted the importance of informing policymakers and others that although the world knows where it wants to get to regarding energy policy, there are many pathways to achieve them.
“The cost of the transition is significant, and it takes time. We need to be open to all solutions and options available on the table to achieve the transition,” he said, reflecting KAPSARC’s position as an advisory think-tank within global energy economics and sustainability, providing consulting services to the Saudi energy sector.
Bassam Fattouh, director of OIES, used his remarks to flag up the importance of COP27 being held in Egypt, saying: “Because it is in Africa, and we need to hear the messages that come from the region.”
He added the importance of governments to guarantee that everyone can access electricity.
Angela Wilkinson, secretary-general and CEO of WEC, insisted that citizens worldwide must believe that governments are working in their best interest when it comes to the shift in energy provision.
“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,” she said.
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 transformations in sectors that are difficult to mitigate.