EY Launches MENA's First Climate Change Readiness Index| MENAFN.COM

Saturday, 28 January 2023 04:10 GMT

EY Launches MENA's First Climate Change Readiness Index


(MENAFN- Jordan News Agency)


Amman, Jan. 25 (Petra) -- Ernst and Young (EY), a multinational professional services partnership, has announced the launch of its Middle East and North Africa (MENA) Climate Change Readiness Index (CCRI), a pioneering tool designed to help countries in the region assess and improve their resilience to the impacts of climate change.
In a statement on Wednesday, EY said that the Index measures the readiness of the six members of the GCC as well as Egypt and Jordan across several areas, such as the effectiveness of their adaptation and mitigation strategies and their ability to finance and implement these strategies.
It provides scorecards that can assist governments, investors, and citizens in tracking the performance of the included countries compared to global benchmarks on 37 quantitative and qualitative indicators of climate change readiness.
The Index also offers a comprehensive overview of the regional and global context in which these countries operate, including the economic, political, and social factors that can influence their outcomes, highlighting Jordan's solid political will to prioritize addressing climate change.
In the same context, Jordan has been able, through the launch of the Green Growth National Action Plan 2021-2025, to increase the share of electricity from renewable energy from 0.7 percent in 2014 to over 13 percent by 2019. In 2021, Jordan initiated a national climate change adaptation plan and increased their target for renewable sources to 20 percent, which is above the MENA average of 10 percent.
Yasir Ahmad, EY MENA Climate Change and Sustainability Services Leader, said that the CCRI shows that almost all participating countries have substantially reduced their per capita emissions from 2015 levels as they continue to fulfill their ambitions to diversify their economies away from fossil fuels through large capital investment.
'The carbon capture and renewables revolution has complemented this trend, with nearly every country in the region introducing a long-term net-zero strategy,' he added.
Richard Paton, EY-Parthenon MENA Leader, said 'The MENA region is already a global leader in carbon capture, utilization, and storage (CCUS) and planning for the future of circular economies. Together, with the leadership the region is taking in energy transition, the use of renewables, and development of hydrogen, MENA is on track to become a forerunner in the development of a low carbon economy.'
The Index is based on a robust and transparent methodology, developed using data from reliable, validated international sources, such as those compiled by the UN system, the World Bank (WB), the International Monetary Fund (IMF), and other data aggregators, to ensure a uniform methodology and data collection process.
EY is committed to working with governments, businesses, and civil society organizations in the MENA region to support the transition to a more sustainable and resilient future.

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