Sustainability
From The Report: Bahrain 2024
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Bahrain has made significant gains in its efforts to diversify away from hydrocarbons. The kingdom’s goals include a 30% reduction in carbon emissions by 2035 and carbon neutrality by 2060. Recent years have seen progress in renewable energy, sustainable urban development, ESG financing and water conservation. The country’s efforts are guided by Bahrain Economic Vision 2030, the country’s long-term socio-economic development roadmap, as well as international partnerships, aligning with global sustainability frameworks. Key initiatives including Blueprint Bahrain and the Green Factory Label programme, both of which launched in December 2023, reflect Bahrain’s commitment to reducing carbon emissions and promoting the green economy. Ongoing collaboration between the government, private sector and international partners will be essential for scaling up efforts towards environmental preservation. Bahrain’s strategic vision and initiatives provide a positive outlook for reaching long-term sustainability goals while maintaining economic growth.

This chapter includes interviews with Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of Bahrain Economic Development Board; Usman Ahmed, Group CEO, National Bank of Bahrain; and Kamal bin Ahmed Mohamed Ahmed, President, Electricity and Water Authority.

Articles from this Chapter

Overview

Green foundations: Progress is being made towards long-term environmental goals
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Under Bahrain Economic Vision 2030 the kingdom has sought to create a new paradigm for economic growth, reflecting the country’s diversification away from hydrocarbons and its growing commitment to environmental preservation. These efforts span various sectors and are guided by national policies, international partnerships and a commitment to global treaties and sustainability frameworks. Alongside Bahrain’s national goals, such as reaching carbon neutral emissions by 2060, progress can be seen…

Interview

Diverse paths: Noor bint Ali Alkhulaif, Minister of Sustainable Development; Chief Executive, Bahrain Economic Development Board (Bahrain EDB), on accelerating sustainable growth and diversification
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Interview:Noor bint Ali Alkhulaif What are the synergies within your dual role as minister and chief executive of the Bahrain EDB? NOOR BINT ALI ALKHULAIF: Sustainable development and inclusive growth work hand in hand to serve the well-being of societies. Bahrain’s Vision 2030 identified social, economic and environmental sustainability as pivotal to determining economic development. The ministry is actively exploring how to accelerate sustainability efforts in terms of data, innovation,…

Interview

Boosting businesses: Usman Ahmed, Group CEO, National Bank of Bahrain (NBB), on efforts to promote financial sustainability and inclusion
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Interview: Usman Ahmed In what ways can the Bahraini banking sector support the realisation of the national net-zero target? USMAN AHMED: The Bahraini banking sector is poised to play a critical role in achieving the national net-zero target. Banks can incentivise emissions reductions through sustainability-linked loans and the provision of capital expenditure financing for clean energy projects. In addition, expanding sustainable finance options and establishing platforms for carbon credits are…

Analysis

Funding progress: New financing frameworks are boosting sustainability initiatives
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As Bahrain’s policymakers work to create an environment conducive to the realisation of Bahrain Economic Vision 2030, the UN Sustainable Development Goals and the kingdom’s net-zero target, businesses are aligning strategic priorities and operational practices with national environmental and socio-economic objectives. In particular, investment in clean energy and energy-efficiency solutions, as well as sustainable transport and infrastructure, has prompted businesses to re-evaluate how best to…

Analysis

Making a mark: Emerging markets are seeing a major shift towards sustainability initiatives, reshaping the global investment landscape
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Impact investment – which is designed to generate tangible social and environmental benefits alongside financial returns – presents promising risk-adjusted prospects. This type of investment not only provides value for investors, but can also greatly advance progress towards the UN Sustainable Development Goals. A Maturing Sector Impact investing continues to expand in both depth and sophistication, with clear indicators of market development since the late 2010s. In a survey conducted by the…

Interview

Clean transition: Kamal bin Ahmed Mohamed Ahmed, President, Electricity and Water Authority (EWA), on transforming the utilities sector
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Interview:Kamal bin Ahmed Mohamed Ahmed How is sustainability driving progress in Bahrain’s electricity and water management? KAMAL BIN AHMED MOHAMED AHMED: The electricity and water segments are undergoing a significant transformation aligned with the kingdom’s national sustainability goals. As demand in Bahrain continues to rise, the focus is in on diversifying sources, while also ensuring the security and reliability of the kingdom’s energy supply. The 100-MW Al Dur solar farm is…