GCC countries shine in Circular Carbon Economy Index
MUSCAT, 1 days ago
The GCC countries have made significant progress in the Circular Carbon Economy Index, with their overall average score rising to 41.5 in 2024 when compared to 37.7 the year before, according to the latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat).
The data issued by the Centre revealed that three GCC countries topped the index at the Middle East and North Africa level.
The Circular Carbon Economy (CCE) Index serves as a comprehensive assessment tool that measures the progress of 125 countries worldwide towards achieving net-zero emissions, through the CCE framework which balances mitigation technologies with enabling tools.
The index consists of two main components: In the Performance Index, which measures the extent to which countries utilise emission-mitigation technologies, GCC countries advanced in 2024 to 35.8, up from 29.7 in 2023.
They also made progress in the Enablers Index, which assesses readiness for transitioning to a low-carbon economy, recording 47.2 points, compared to 45.6 points in 2023.
The data also showed that GCC countries have made a significant leap in contributing to the establishment of global renewable energy plants. The share of the GCC’s installed design capacity for renewable energy plants out of the total global installed design capacity rose to 0.43% in 2024, compared to just 0.03% in 2015.
The GCC Supreme Council has reiterated its commitment to adopting the key pillars of the energy transition, including energy security, economic development and climate change, through sustainable investments in hydrocarbon resources.
Member states are following the four pillars of the Circular Carbon Economy (CCE) approach, which are reducing, reusing, recycling, and removing emissions, it added.-TradeArabia News Service
