Doha: With a Circular Economy (CE) in place, Qatar could generate an additional $17 billion, equivalent to 10% of GDP, by 2030 and create an estimated 9,000-19,000 jobs by 2030 and increase disposable income, attracting more greenfield foreign direct investment (FDI), according to the Investment Promotion Agency of Qatar (IPA Qatar). In a recently published policy paper on the circular economy, IPA Qatar said that as the world grapples with sustainable investment, a circular model will help countries like Qatar achieve a balance between economic growth and environmental stewardship. emphasized that it helps
Investors around the world are becoming more conscious of sustainability, which is part of the motivation for many countries to implement circular strategies that attract greenfield FDI and create quality jobs for their citizens. I’m here. Therefore, targeting sustainability-conscious investors is critical to achieving the economic, social and environmental goals set by the Qatar National Vision 2030, IPA Qatar said. rice field.
In this study, IPA Qatar noted that the current pandemic is driving the transition to CE by bringing to the fore many of the inherent risks and dysfunctions of the linear economy. In June 2020, more than 50 global leaders and CEOs endorsed the circular model as a viable solution to rebuilding better from the COVID-19 crisis and achieving a green and sustainable recovery Did. As a result, assets in CE-focused public equity funds have jumped sixfold since the pandemic began, growing from $300 million to more than $2 billion.
In Qatar, the building blocks for CE are already in place, IPA Qatar said in a study. Qatar’s efforts to move to a more sustainable model stem from the country’s National Vision 2030, which includes climate change strategies, green cities, and national targets on resource efficiency and waste management. added. Taken together, Qatar is well positioned to further work on resource efficiency and CE.
“Furthermore, the ongoing sustainability projects under the guidance of QNV2030, such as hosting the first-ever carbon-neutral FIFA World Cup in 2022, will help the government maintain a balance between economic development and environmental sustainability. The National Climate Change Strategy also aims to reduce the carbon intensity of liquefied natural gas facilities by 25% in the same year, and as the world’s largest liquefied natural gas producer, Qatar will achieve It also plans to expand LNG production to 126 million tonnes per year by 2020. Added IPA Qatar.
The circular economy is a trillion dollar opportunity with huge potential for job creation, economic growth and innovation. Globally, CE could generate an additional economic output of $4.5 trillion by 2030 and $25 trillion by 2050. At the regional level, the GCC could save up to $138 billion by 2030 through a circular model. This represents almost 1% of the region. Total GDP from 2020 to 2030.
“The most circular economies stand to reap the greatest gains by increasing their competitiveness, resilience and innovative capacity. Facilitate economic diversification by fostering expansion of the private sector by developing sectors and activities In addition, sustainability will become a high priority globally, increasing the number of companies Countries that promote circular policies through economic and regulatory instruments are 10-40% more likely to attract greenfield FDI as they face ESG scrutiny. , will be well positioned to win these economic awards,” said IPA Qatar.
Sustainable development is becoming a determinant of the IPA sector promotion and FDI targeting strategy around the world. Established to play a key role in accelerating Qatar’s economic development, IPA Qatar is committed to pursuing targeted, sector-specific investment promotion strategies with a firm focus on sustainable investments. We have reiterated here an opportunity that could catalyze a promising sector. Sustainable transition process.
