MANAMA, Bahrain, Nov. 30, 2023 (GLOBE NEWSWIRE) — Bahrain today unveiled its National Energy Strategy: a clear, credible, and responsible pathway to reaching the climate targets the Kingdom pledged to achieve at COP26, namely a 30 percent reduction in emissions by 2035 on the road to net-zero emissions by 2060. The Strategy is rooted in the twin objectives of decarbonizing Bahrain’s economy while ensuring reliable and affordable access to the energy the Kingdom needs to sustain and, indeed, accelerate its growth. It is one of 6 priority sector strategies that stem from the Kingdom’s forward-looking Economic Recovery Plan.
Recognizing that there are many ways to approach decarbonization, with some countries focusing on a regulatory approach and others focusing on industry-led initiatives, the Kingdom leveraged its small country advantage to opt for a partnership model. The Strategy is the product of genuine collaboration between government and industry. It did this in an effort to harness the latter’s expertise and know-how to build a comprehensive, cross-sectoral plan that takes full advantage of synergies and opportunities to scale. By working together from the outset, government and industry are taking a coordinated approach to future planning on skills requirements, infrastructure and other issues that will require cooperation.
The Strategy relies on three levers: optimizing energy demand to reduce energy intensity and consumption, diversifying the country’s power mix to include cleaner energy sources, and deploying carbon abatement technologies to decarbonize hard-to-abate sectors. Each lever includes a series of initiatives carefully designed and sequenced to ensure Bahrain maximizes the environmental benefits that accrue as a result of their implementation while minimizing the overall cost of transition. The Kingdom sees economic opportunity in its plan: Bahrain’s size, strategic location, favorable regulatory environment, and agile government, make it uniquely positioned to serve as a regional hub for the development and testing of innovative clean technologies.
Commenting on the National Energy Strategy, His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs, Chairman of Bapco Energies said: “Under the wise leadership of His Majesty King Hamad bin Isa Al Khalifa, and with the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, the Kingdom of Bahrain is embarking on a transformative journey towards a more sustainable future where energy security evolves as a shared responsibility, nurtured by the innovation of our domestic energy industry. The National Energy Strategy provides a realistic pathway to decarbonizing our national economy in a holistic manner, guiding us in achieving our energy transition goals and fulfilling our Net-Zero national commitments by 2060.”
For more information, please contact the National Communication Centre of the Kingdom of Bahrain on email@example.com.