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Business / Qatar Business

Nudging companies to use renewable energy will attract investment: Expert

Published: 29 Sep 2021 - 09:45 am | Last Updated: 28 Dec 2021 - 11:40 am

Deepak John | The Peninsula

Companies should be encouraged to use renewable energy in their energy consumption. The move has the potential to attract foreign investments in renewable energy projects in Qatar, said an expert during a webinar held recently.

The event organised by Hamad Bin Khalifa University (HBKU) examined key subjects from the new book, ‘Climate Change Law and Policy in the Middle East and North Africa Region’ and covered the latest developments in the regulation of climate change across the Mena region, including the applicable legislation, institutions, and key legal innovations in climate change financing, infrastructure development, and education. 

Dr. Susan L Karamanian, Dean of the College of Law, HBKU delivered the opening remarks. She said, “The topic of climate change has relevance in Qatar and globally. The book explores a range of topics related to climate change in the region including relevant case studies from countries in the Mena as well as lessons learnt to guide us in the future.” 

Dr. Damilola S Olawuyi, Associate Dean for Research, College of Law at QF’s HBKU, and the author of Climate Change Law and Policy in the Middle East and North Africa Region said, the aim of this book is to address the subject matter of climate change. This is the first book that will look at the law and policy framework on climate change in this important region. Mena region as many other regions of the world is facing a climate emergency. 

In addition to laws specifying greenhouse gases emission limits, there is also the need for a law on renewable energy that requires all corporations to include a specified percentage of renewable energy sources in their operations. This will potentially have economic benefit too by attracting foreign investments in renewable energy development projects in Qatar, said Dr. Olawuyi.

“Studies confirm that Mena region is considered one of the most vulnerable regions to climate change and the region remains one of the least prepared in terms of clear and comprehensive legislation. The vulnerabilities in terms of geography, policy, law, and climate smart infrastructure require urgent action. Climate change education and awareness need to proceed faster because of the fierce urgency of the problem that we face,” he added. 

Elizabeth Maruma Mrema, UN Assistant Secretary General and Executive Secretary, Secretariat of the Convention on Biological Diversity, said in 2012 the UN conference discussed sustainable development and three years later in 2015 UN General Assembly adopted the 17 Sustainable Development Goals (SDGs) with 169 targets and now it is preparing itself for the next 30 years. 

She said, “You cannot deal with climate change problems without looking at the landscape and nature biodiversity. Food insecurity, water scarcity, nature is affected by human activities, all the ecosystem leading to the climate change and the impacts of floods, drought, and earthquakes. We are already seeing the interconnection of climate change with other environmental issues and the three global crises in addition to climate change include biodiversity loss, land degradation, and putting them together will add to pollution.” 

“When we look at climate change law it is beyond more than just linear climate change law. At domestic level on education, the Mena region needs to ensure the adequate expertise to have better understanding of linkage between climate change and other issues like food, peace and security, human rights,” she added