With the world economy heading into a complex post-pandemic recovery, GCC governments have outlined a wide-ranging set of environmental targets – and shone a stronger spotlight on sustainability.
The Middle East
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The onset of the pandemic in 2020 gave rise to global acceleration in the uptake of digital platforms and services. This surge was consolidated in 2021, as it became clear – in emerging and developed economies alike – that digital is the new normal.
Sharjah entered the pandemic period in a resilient position thanks to a highly diversified and digitalised economy supported by strong fundamentals at the national level.
On the back of higher oil prices and a stronger global economic environment, the Middle East returned to growth in 2021, with a number of governments taking the opportunity to implement long-term plans aimed at diversification and modernisation.
In a year in which significant political efforts have been made to speed up the energy transition, 2021 has also been record-breaking for green finance, as governments, international institutions and lenders alike seek to support the shift towards renewables.