The Middle East Energy

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As the prices of solar power inputs reach 10-year highs, Indonesia is looking to boost solar panel manufacturing.

Amid an increase in global demand and concerns over key supplies, global oil prices are approaching $100 per barrel for the first time since 2014. But, with prices rising, what does this mean for the renewable energy transition, especially in Gulf countries?

The shift away from hydrocarbons and towards sustainable forms of energy continued in 2021, with new renewable generation capacity set to reach an all-time high and the international community committing to reduce carbon emissions at the latest UN Climate Change Conference (COP26). For emerging economies, this transition heralds a specific set of challenges – as well as potential benefits.

Amid pledges to phase out the use of coal and reduce methane emissions, world leaders at the recent UN Climate Change Conference (COP26) in Glasgow also agreed to reform global carbon markets and improve rules about carbon trading, seen as key tools in the transition towards decarbonisation.

The ongoing UN Climate Change Conference in Glasgow has underlined how increased adoption of low-carbon energy sources will be key to reducing global emissions. While it is not without its detractors, many agree that nuclear power has a role to play in this.

As environmental, social and governance concerns become increasingly important in the corporate world, insurance companies are emerging as potentially key players in the shift away from fossil fuel-powered projects.

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