‘Qatar taking proactive steps to reduce carbon footprint’

Doha, Qatar: Qatar has placed environmental stewardship at the core of its developmental agenda. From investments in renewable energy to pioneering ca...

Doha, Qatar: Qatar has placed environmental stewardship at the core of its developmental agenda. From investments in renewable energy to pioneering carbon capture and storage technologies, the country is taking proactive steps to reduce its carbon footprint while fostering economic growth, said Yousuf Mohamed Al Jaida, CEO, Qatar Financial Centre (QFC), yesterday.

Addressing the CASI Sustainability Forum, Yousuf Mohamed Al Jaida, said, as we all know the urgency of addressing climate change has never been more apparent. Around the globe, nations are committing to reduce greenhouse gas emissions and the Mena region is uniquely positioned to contribute significantly to this effort.

In the Mena region, there is a growing commitment to adopting sustainable practices. Businesses and political leaders are focused on addressing the climate crisis, adopting circular economy principles and leveraging the region’s strength in clean energy. There is a notable increase in the availability of green financial instruments reducing the reliance on self-funding for sustainability initiatives.

Al Jaida stated, in 2019, Qatar commissioned the region’s largest carbon dioxide recovery and sequestration facility, which is designed to capture over 5 million tons of carbon dioxide emissions annually by 2025. In 2022 Qatar launched, the Al Kharsaah solar plant which can supply 10% of the country’s peak power demand. Over its lifetime the plant is expected to prevent 26 million tons of carbon dioxide emissions.

Recently, QatarEnergy announced that it will build one of the world’s largest solar power plants in Dukhan with a capacity to produce 4000 megawatts of energy. This is in addition to two other solar power plants with a combined capacity of 880 megawatts under development. Qatar aims to source 20% of its energy from renewables by 2030 and achieve a net zero carbon footprint by 2050.