The executive director of the International Energy Agency has called for Middle Eastern countries to accelerate their transition to clean energy.
Fatih Birol, who spoke to The National at Davos last month, said there are two key reasons why now is the right time to speed up the transition.
The region has “the financial muscles to have economic programmes diversified” as a result of high oil prices last year, with global oil and gas industry profits reaching about $4 trillion, he said.
The UN climate summit, Cop28, also represents a key opportunity for the region.
“You have the financial basis and also a very important milestone in the history of Middle East in terms of the transition,” Mr Birol said.
“I don't say that tomorrow they should cut down oil production, but now this transition needs to start.”
Mr Birol also said it was important for the UAE to host Cop28.