To Subscribers, The following is a report by Qatar News Agency , issued as part of the Economic bulletin of the Federation of Arab News Agencies (FANA).
Doha, The announcement of the State of Qatar last week on the issuance of 2.5 billion USD worth of green bonds constituted a new boost to its efforts in developing a diverse and sustainable economy and achieving sustainable development in the country. This region’s first-of-its-kind issuance aims at financing environmentally friendly projects.
In its announcement of the new Qatari initiative, the Ministry of Finance stated that the issuance of these green bonds offers investors the opportunity to participate in the country’s journey to combat the negative effects of climate change and protect the environment through sustainable development, while simultaneously advancing the sustainable finance sector in the country.
This initiative, along with other sustainability and eco-friendly projects and initiatives implemented by Qatar, reflects the nation’s rapid
progress toward becoming an exceptional regional hub for a green economy. This is in line with its international commitments and its National Vision 2030, which aims to achieve a sustainable balance between economic and social development while preserving the environment.
The initiative is also part of Qatar’s efforts to reduce greenhouse gas emissions by 25 percent by 2030 and focus on sustainable and green investments. Qatar plans to offer more than 75 billion USD in sustainable investment opportunities by 2030, reflecting its commitment to environmental sustainability.
At the heart of this endeavor is the Qatari energy sector’s efforts to address the triple energy crisis of supply of security, affordability, and sustainability by providing the world with the cleaner energy needed for a responsible transition to low-carbon energy.
In this regard, HE Minister of State for Energy Affairs, the President and CEO of QatarEnergy Eng. Saad bin Sherida Al Kaabi previously stressed the constant need for natural g
as as the cleanest fossil fuel to meet the energy load required for electricity production and factories and industries operations. HE noted that 40 percent of the total new Liquefied Natural Gas (LNG) quantities reaching global markets by 2029 will come from QatarEnergy.
HE Minister of State for Energy Affairs added that there must be a balance between human demand and managing it correctly, as is the case in Qatar, we are working to increase production to 126 million tons annually, with an additional 16 to 18 million tons coming from our project in the US next year to do this in the most responsible way regarding emissions and carbon dioxide sequestration.
Regarding Qatar’s role in these efforts, Eng. Saad bin Sherida Al Kaabi said that the country today has the largest carbon dioxide sequestration site in the Middle East and North Africa. More than 2 million tons of carbon dioxide are injected annually, with plans to increase to 11 million tons within a few years. LNG production plants use solar energy t
o operate, making the carbon emission intensity of LNG in Qatar one of the lowest in the world. Therefore, it is being done in a very responsible manner and working to reduce emissions.
Source: Qatar News Agency