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EY has launched the Middle East and North Africa (Mena) Climate Change Readiness Index (CCRI), a pioneering tool designed to help countries in the region assess and improve their resilience to the impacts of climate change.
The index measures the readiness of the six GCC countries, as well as Egypt and Jordan, in several areas, such as the effectiveness of their adaptation and mitigation strategies and their ability to fund and implement them.
It provides a scorecard that helps governments, investors and citizens track how the included countries are performing against global benchmarks on 37 quantitative and qualitative indicators of climate change readiness.
Comprehensive overview
The index also provides a comprehensive overview of the regional and global context in which these countries operate, including economic, political and social factors that may influence their results.
The EY Mena CCRI highlighted the UAE’s remarkable efforts to combat climate change, including being the first country in the region to seek a pathway to net-zero emissions by 2050. It also ranks the country highly on indicators such as government policy, social and private sector readiness, policy environment and achievements.
This follows the UAE’s opening of a $600 million concentrated solar power (CSP) plant in Masdar in 2013 to harness the sun’s rays to increase energy production. The index also highlights the UAE’s commitment to making a difference and ensuring they have the human capital with scientific understanding to sustain this momentum.
Yasir Ahmad, Head of Climate Change and Sustainability Services at EY Mena, said: “Climate change is a global challenge and addressing it requires collective action. To support these efforts, we are delighted to launch the Mena region’s first Climate Change Readiness Index , the index will serve as a valuable tool for governments, businesses and civil society organizations as they strive to assess and strengthen their readiness to address environmental challenges and impacts. The index is designed to be flexible, responsive and Personalized, enabling countries to monitor their progress over time and identify areas for improvement.”
CCRI is based on two pillars:
Adaptation: Adjustments made in response to existing climate change impacts; for example, building to resist flooding or withstand higher temperatures.
Mitigation: Measures taken to curb future emissions; for example, reducing energy consumption and adopting renewable energy sources.
Reducing emissions per capita in the MENA region
The CCRI shows that nearly all participating countries have substantially reduced per capita emissions from 2015 levels as they continue their ambition to diversify their economies away from fossil fuels through large capital investments. Carbon capture and the renewable energy revolution complement this trend, with nearly every country in the region introducing long-term net-zero emissions strategies.
Richard Paton, Head of EY-Parthenon Mena, said: “The Mena region is already a global leader in carbon capture utilization and storage (CCUS) and planning for a circular economy future. With leadership in development, the Middle East and North Africa has the potential to be a pioneer in developing a low-carbon economy.”
The index is based on a robust and transparent methodology, developed using data from reliable, verified international sources such as those compiled by the United Nations system, the World Bank (WB), the International Monetary Fund (IMF) and other data aggregators to ensure Harmonized methodology and data collection process.
EY is committed to working with governments, businesses and civil society organizations in the MENA region to support the transition to a more sustainable and resilient future. The launch of the Mena CCRI marks an important milestone in this journey and will help drive the necessary action and collaboration. — trade arab news agency
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