Businesses of all sizes and across all sectors must revisit their business models and restructure it toward supporting sustainable development. According to the media, it is critical that the private sector joins the government in its efforts to address climate change and develop proactive plans for all anticipated challenges.
According to the report, "The Line" city, located in a desert northwest of Saudi Arabia, will have no roads, cars, or emissions and will run on 100% renewable energy. It is a linear city that will be built on an area of just 34 square kilometres and intends to eventually accommodate over nine million people.
On Tuesday Oman-based Islamic bank Sohar International announced that it has entered into a Memorandum of Understanding [MoU] with Australia-based Fortescue Future Industries [FFI], a global leader in developing green energy projects to support the company’s plans for the Sultanate, according to the report.
Saudi Electricity Company (SEC) has appointed WSP Middle East to support the Saudi stock exchange-listed utility in achieving compliance against applicable local and international environmental regulations as part of a major environmental compliance programme covering all its facilities across the Kingdom.
With harsh sanctions on Russia, resulting in an unstable supply and rising prices of its main sources of energy for EU countries European Bank for Reconstruction and Development [EBRD] reported that gas exporters in North Africa, namely Algeria, Egypt, and Libya, have become possible long-term solutions for Europe.