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  • Al Couture

The Time to Act is Now

At Al Thuraya Holdings, we underscore the important role human connections play in tackling today’s problems.

That’s why we’re looking forward to actively contributing our efforts to support our clients during the upcoming 27th United Nations Climate Conference (COP27). More than that, by attending COP27, we will be learning from the wealth of ideas exchanged.

The event is taking place on Egypt’s Red Sea coast in Sharm el Sheikh city – one of the most diverse marine ecosystems in the world. But, like the rest of the Middle East, the Red Sea is under threat. For years, scientists have warned that the region is warming at twice the global average.

If current trends continue, the temperature will rise by 5 degrees before the end of the Century. The 2015 Paris Agreement had a goal to preferably limit warming to 1.5 degrees. This will have devasting consequences beyond the region and not just in the far future. We’re seeing the impacts now. Hunger, poverty, displacement, and conflict are already a reality.

Middle East countries understand this more than anyone else. The impacts will be happening during COP27 as nations come together to discuss it. It’s no wonder, then, that Middle East and African governments, businesses, and NGOs have an essential stake in this critical meeting.

Balance is a critical theme for many of the GCC governments convening at COP. They must balance their transition to renewable energy and the impact of current energy prices on global economies against an energy security imperative that is funding the livelihoods and transformation sweeping across their countries. Economically developing countries – particularly those in Africa on behalf of whom Egypt is convening the COP - will ask hard questions about the financial pledges made during the Paris Agreements of 2016. And, they’re entitled to.

Economically developing countries deserve to see bolder commitments and sincere actions from their counterparts.

Al Thuraya Holdings’ commitment to the region is to unite our community of problem-solvers to innovate and ideate with governments, businesses, and international stakeholders as they navigate and explore policy options, investments, and new frontiers to address these pressing challenges. We aren’t just another company that sits behind desks and identifies problems with no resolve. The next few years will be very critical for the continent, and we’re already making sure we’re part of the solution.

The time to act is now. Together, we can secure a resilient and safe future for the Middle East and Africa.

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