The goal of achieving Net Zero, or reducing greenhouse gas emissions to zero, has gained increasing attention in recent years as means of addressing climate change and mitigating its impacts. Achieving Net Zero will require significant changes to the way that energy is produced, transported, and used, as well as changes to how goods and services are produced and consumed. These changes will have economic impacts at the global level, as well as in specific regions such as the Middle East.

The transition to a Net Zero economy could have both positive and negative effects on the economy. On the positive side, it could create new job opportunities in industries related to renewable energy, energy efficiency, and the production of low-carbon goods and services. It could also stimulate innovation and technological development, which can drive economic growth. However, the transition could also lead to higher energy costs for consumers and businesses, as well as potentially raising the price of goods and services in the short to medium term. Some industries that rely heavily on fossil fuels may see declines in demand, which could have negative impacts on employment and economic activity in those sectors.

This report aims to provide an overview of the economic implications of pursuing Net Zero, from a global and Middle Eastern context. It will examine the potential benefits and challenges of transitioning to a zero-emissions economy, including the impact on employment, energy costs, and the competitiveness of different sectors. The report will also discuss the role of policy in driving the transition to Net Zero and the challenges of coordinating action at the international level.

This paper is co-written by Farah Ghanem & Hristo Diko

Download the Whitepaper here: The Economic Impact of Net Zero 

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