More than four out of 10 US investors will invest more in the Middle East if countries show leadership on clean energy at COP28, according to a survey.
A survey conducted by Sapio Research showed that 41% will invest more in the Middle East if countries such as the UAE, Saudi Arabia and Qatar showed “a clear commitment at COP28 to hitting the international community’s climate goals.”
Half of the 500 investment firms surveyed said they will invest more if countries there “increase their own investments in and policy for renewable and clean technologies.
Twenty nine percent of the survey respondents said that Saudi Arabia was the most appealing Middle Eastern country for investing in clean energies and technologies, followed by the UAE (28%) and Qatar (26%).
Nearly all of those surveyed (88%), already invest in renewables and 75% already have had investments in the region.
“This data illustrates that US investors are closely watching how Middle Eastern leaders’ manoeuvre on clean energy during the UN climate talks, COP28, and will be moving their money according to the outcomes,” said Dr Nathalie Jones, policy advisor at the International Institute for Sustainable Development.
“Global investors are training their eyes on the final outcome of COP28,” he said.
(Reporting by Imogen Lillywhite; editing by Daniel Luiz)