Boosting the carbon economy’s circularity is dependent on developing the ‘remove, reuse, and recycle’ pillars of the concept. In the GCC states, carbon capture storage and transport infrastructure is significantly underdeveloped, and laws and regulations on CCUS frameworks often have gaps. Linkages already exist between GCC countries, so mult

seeking $140 billion in investment to target an annual production of 1-1.25 megatonnes of green hydrogen by 2030 – mainly at HYPORT Duqm, led by the Belgian company DEME. This would rise to 3.25-3.75 megatonnes by 2040 and 7.5-8.5 megatonnes by 2050. The UAE has also taken significant steps to develop green hydrogen, within its borders and abroad

As part of their CO2 strategy, the Gulf monarchies have also bet on nature-based solutions, such as: restoring wetlands, conserving mangrove forests, protecting salt marshes, restoring forest habitats, and planting trees. In March 2021, as part of its Green Initiatives, Riyadh announced that it aimed to plant 50 billion trees across the Middle East

aimed at supporting the local green agenda. The EU, for its part, has a diversified portfolio of climate finance instruments and frameworks (such as the European Hydrogen Bank and several environmental, social, and governance investment models) which could serve as inspiration for the UAE’s goals on climate finance at COP28. In fact, the EU could

But a hydrogen partnership between the EU and Saudi Arabia remains embryonic, while the EU’s directorate-general for energy has signedhydrogen partnerships with countries that are far behind Saudi Arabia’s production schedule with NEOM. It is unclear whether the EU has even begun conversations about hydrogen with Oman and the UAE, which are two