Qatar Economic Forum: Call for Supporting Energy Shift to Reach Net-zero Targets

Doha, May 14 (QNA) - Panelists in a session of the Qatar Economic Forum stressed the importance of energy shift and reliance on advanced technological techniques to enhance the efficiency and feasibility of energy solutions, contribute to addressing the carbon footprint, move the global economy to zero emissions that reduce climate risks, and avoid unexpected disasters that may result from massive emissions.

This came in the "Financing the Shift to Zero" session, moderated by Haslinda Amin, Chief International Correspondent, Southeast Asia & Anchor, Bloomberg Television, with the participation of Dr. Maryam Butti Al Suwaidi, CEO of the Emirates Securities and Commodities Authority, Jim Coulter, co-founder and CEO of TPG, and Samaila Zubairu, President and CEO of the Africa Finance Corporation.

The session's participants called for the creation of financing programs and financial funds, redirecting capital towards reducing the footprint of industrial sectors that cause greenhouse gases, and supporting efforts to shift towards clean and renewable energy.

They highlighted the extent to which the world needs radical solutions to address the new climate reality, how to remove project risks, appropriate mechanisms to put net zero goals back on track, and ways to enhance cooperation between investors and sustainable business leaders to do so.

The panelists stressed the need to support technical and innovative investments in this field to bridge the gap and disseminate advanced technologies on a large scale with the aim of overcoming the challenges and risks that may halt their progress as well as stimulating cooperation between the relevant parties.

The participants pointed out that the world is in a race to confront climate issues in order for everyone to survive, especially since the issue of reducing greenhouse gases is a collective responsibility that requires concerted efforts to reduce their dangerous emissions, and addressing them plays an important role in stimulating global economic growth.

They called for expanding the establishment of solar and wind farms and pushing the shift towards them and investment in them, given their economic importance and in achieving environmental and geological recovery, while highlighting the necessity for developing legislation and plans to ensure this shift taking into account the requirements of environmental sustainability.

They also called for developing programs for nuclear safety and its safe uses to reduce carbon dioxide, financing renewable energy projects around the world, establishing funds to undertake this goal, drawing a clear plan for the paths of the energy shift, attracting investors and drawing attention to the importance of innovation in it, and developing appropriate solutions to confront its challenges. (QNA)