The current shift and emphasis on innovation and sustainability highlighted the worldwide need for cleaner sources of energy, stimulating and accelerating the transition towards renewables on a global scale. Together with the recent drop in oil prices and the necessities of a post-pandemic recovery, such trend held important implications for the MENA region. As a matter of fact, due to their geographical location and abundant fossil fuel reserves, the MENA countries have traditionally covered a leading role in the development of the global energy sector, and they are currently showing a significant potential in the field of renewables, in particular green hydrogen, and solar power systems. Leveraging on these new sources of energy will be crucial to enhance the cooperation between the shores of the Mediterranean, to ensure new investments in the region and to foster a steady, sustainable, and coordinated economic recovery.
Watch the Rethinking Prosperity Panel, "Going green: Managing the energy transition in post-pandemic times", on the MED website.