A 25% reduction in energy subsidies would free up over $100 billion over a three-year period, an amount that can be shifted to finance the conversion to green energy sources. A projected target of 50% greening of the transport sector, resulting from higher energy efficiency and increased use of public transport and hybrid vehicles, should generate savings of $23 billion annually. These are key findings of a report released today by the Arab Forum for Environment and Development (AFED) at the opening of its annual conference in Habtoor Grand Hotel in Beirut.
The report entitled Green Economy in a Changing Arab World also concluded that Arab states need to promote efficient irrigation and water use and prevent water pollution. Reused treated wastewater should increase from 20% currently to 100%. Spending $100 billion in greening 20% of the existing building stock in Arab countries over the next 10 years is expected to create four million jobs. Such measures can also curb the annual cost of environmental degradation in Arab countries, estimated to be $95 billion, equivalent to 5% of their combined GDP in 2010. The report includes more than 60 case studies about success stories and initiatives for transitioning to a green economy in the Arab world.
AFED's conference is held under the patronage of the President of Lebanon General Michel Sleiman, represented by Minister of Environment Nazem Khouri. More than 20 Arab parliamentarians attended, along with about 500 delegates from around the world, 25% from government agencies and public sector, 25% from private sector, 20% from civil society, 20% from universities and research centers, 10% from international and regional organizations, in addition to 86 regional and international media.
Also present were former president of Costa Rica and chairman of the Carbon War Room José Maria Figueres, former prime minister of Jordan Adnan Badran, director general of the Kuwait Fund for Arab Economic Development Abdulwahab Al-Bader, World Bank special envoy on climate change Andrew Steer, and director of the Arab Water Academy Asma El-Kasmi. High-level delegations from environment ministries and agencies attended, including a delegation from the Arab Council of Ministers Responsible for the Environment (CAMRE). Also present were representatives of Arab development funds, along with ambassadors, diplomats, businessmen, CEOs and heads AFED member organizations.
