The Middle East and North Africa region is carving out a prominent position in the global clean industry financing landscape, with 84 investment projects under development valued at approximately $642 billion across the clean fuels, fertilisers, steel, and aluminium sectors, according to a new report by the Mission Possible Partnership titled "Clean Industry Momentum: A Foundation for More Resilient Value Chains".
This momentum comes as the world witnesses an unprecedented acceleration in clean industry project financing, with 19 global projects reaching final investment decision stage over the past six months at a value of $43 billion — double the pace recorded a year ago.
In the United Arab Emirates, projects in Abu Dhabi and Fujairah are moving towards the development of sustainable aviation fuel, capitalising on a strategic location near one of the world's most important aviation hubs.
James Scofield, Deputy Director of the Industrial Transition Accelerator, said: "We are today seeing a doubling in the pace at which projects around the world are reaching final investment decision. The majority of these projects are concentrated in China, while indicators point to the continued rise of what is known as the 'global new industrial belt'."