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EY has launched its Climate Change Readiness Index in the Middle East and North Africa (MENA) to support decarbonization efforts and help countries improve their resilience to the impacts of climate change.
The Index provides scorecards for each of the countries in the Gulf Cooperation Council (GCC) — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates — as well as Egypt and Jordan. The scorecards help governments, investors and citizens evaluate their current impact on climate change and their readiness of what may come in the future.
Scorecards take into account the effectiveness of climate change strategies and the ability to finance these strategies. “The Index also offers a comprehensive overview of the regional and global context in which these countries operate, including the economic, political and social factors that can influence their outcomes,” EY wrote.
“Climate change is a global challenge and addressing it requires collective action,” said Yasir Ahmad, EY MENA Climate Change and Sustainability Services Leader. “To support these efforts, we are delighted to launch the MENA region’s first Climate Change Readiness Index that will serve as a valuable tool for governments, businesses and civil society organizations as they work to evaluate and enhance their readiness to tackle environmental challenges and impacts. The Index is designed to be flexible, responsive and personalized, therefore allowing countries to monitor their progress over time and identify areas for improvement.”
The Climate Change Readiness Index is based on two pillars: adaptation and mitigation. Adjustments made in response to climate change and how to react to future changes.
“The MENA region is already a global leader in carbon capture, utilization and storage (CCUS) and planning for the future of circular economies,” said Richard Paton, EY-Parthenon MENA Leader. “Together, with the leadership the region is taking in energy transition, the use of renewables, and development of hydrogen. MENA is on track to become a forerunner in the development of a low carbon economy.”