GCC and RCREEE collaborate to boost renewables and energy efficient solutions
The Global Carbon Council (GCC) has signed a memorandum of understanding with the Regional Center for Renewable Energy and Energy Efficiency (RCREEE) aimed at enabling and enhancing the adoption of renewable energy and energy efficiency practices in the Arab region. The agreement was formalized on the sidelines of the 27th session of the Conference of the Parties (COP 27) to the UNFCCC concluded on 18th November 2022 in Sharm El Sheikh, Egypt.
Signing the MoU on behalf of GCC was Founding Chairman, Dr. Yousef Alhorr, who was joined by Dr. Jauad El Kharraz, Executive Director of RCREEE. Through this MoU, the two entities will join efforts on the deployment of renewable energy and foster applied research projects and curriculum development that are driven by challenges faced in the energy sector. A key aspect of the latest agreement encompasses collaboration on encouraging RECEEE member countries to use GCC program for meeting their climate mitigation and adaptation initiatives.
Specific areas of cooperation covered under the recent MoU involve knowledge exchange and awareness programs as well as collaboration on research activities and projects focusing on energy transition of the Arab world. Accordingly, the partnering entities will work towards capacity building through trainings, workshops and seminars on topics related to design and implementation of renewable energy and energy efficiency (RE&EE) projects, carbon markets and carbon credits, climate change, RDI and projects seeking to address energy-water-food nexus challenge. To this end, GCC and RCREEE will work on honing professional skills and qualifications of students, academic staff and practitioners in relevant fields.
Apart from knowledge exchange on RE&EE technological innovations, policy and financial mechanisms, the two organizations also plan to initiate joint outreach and advocacy activities such as publications and industry events with an aim to spread awareness and connect likeminded stakeholders from utilities and associations.
Through its MoU with GCC – MENA region’s first voluntary carbon market – RCREEE will encourage its member countries to use GCC program and its carbon finance facility as a vehicle to raise carbon revenues through issuance of carbon credits for energy efficiency and renewable energy projects and policy instruments; issuance of Internationally Transferable Mitigation Outcome (ITMOs) under Article 6.2 of Paris Agreement, and issuance of carbon credits on domestic actions on energy efficiency and renewable energy, either independently or in combination with domestic carbon tax or emission trading system (ETS).
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