Bahrain is going net-zero
There is more recognition than ever that reducing emissions is the only way to move forward.
Countries from all over the world have already begun taking serious action that will help reduce carbon emissions and contribute to a more environmentally sustainable world. There are several organisations, like the UNGC and their SDGs, as well as others like EU Taxonomy and the CDP, all working toward helping businesses and organisations become sustainable.
Bahrain understands this. And has promptly taken action.
In a landmark announcement, Bahrain has announced its commitment to achieving net-zero carbon emissions by the year 2060. That may sound a little far away, but considering the heavy reliance on the petroleum industry for its economic strength, this is a massive commitment.
And it follows the announcements by the neighbouring UAE and KSA, who committed to achieving net-zero by 2050 and 2060 respectively.
These goals may be a little further away in the future, but achieving them will require significant action starting right now.
So what does this mean for those that are already in Bahrain now? How will the country change? What challenges will the businesses in Bahrain face as the country moves away from petroleum and towards a low-carbon world?
And perhaps most importantly, what opportunities will this promise give rise to as the country attempts to become sustainable?
Achieving net-zero in Bahrain: the challenges
There will, no doubt, be a series of challenges that Bahrain and businesses in Bahrain will have to face as they try to achieve net-zero.
The country as a whole is largely dependent on petroleum for much of its wealth. This has to change as Bahrain pursues the net-zero target. What this means is that businesses in and around the petroleum and other carbon-intensive industries will have to brace themselves to make significant adaptations to a new reality.
Also, as the country moves away from petroleum, it faces the challenge of bringing in enough wealth from other sustainable industries. This is no small task. Thankfully, Bahrain has been moving towards this for the past few years, with its vision for the year 2030.
But all of these challenges will also result in the creation of opportunities for businesses and entrepreneurs and investors in the country.
Achieving net-zero in Bahrain: the opportunities
Achieving net-zero will mean that the country will push to encourage other industries to replace its wealth from oil.
Tourism is already a massive priority for the country, with its massive potential being realised through various efforts. This means that there will be more opportunity and encouragement than ever for businesses in and around the tourism industry in Bahrain.
Becoming net-zero will also likely require the energy needs of the country to be met through renewable sources. Businesses that focus on solar energy, as well as other renewable forms of energy, will surely have massive opportunities in the country over the coming years.
As the country moves away from traditional internal combustion vehicles, businesses that focus on power delivery will have the opportunity to serve the new rising need.
Bahrain is also focusing on a circular carbon economy approach, which means businesses that focus on carbon capture technology and carbon offsets will see rising opportunities in the kingdom.
Every little change that reduces carbon emissions will be key. This means that any business that helps solve the problem of reducing emissions will have significant opportunities in Bahrain. This can be a very wide range, from people focusing on simpler tasks like more energy-efficient lighting through the likes of LEDs to larger, more significant projects like industrial solar installations.
It is clear that Bahrain has made the commitment to change. And with this change, will come many opportunities that your business in Bahrain will be wise to pay attention to.
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