Tuesday 23 April 2024

Abdulaziz Tawfeeqi

SFME launches roundtable on rapid growth of Mena EV market

MANAMA, February 29, 2024

The Sustainability Forum Middle East (SFME) has announced the launch of a high-level roundtable discussion titled “Green Mobility and the Growth of Mena’s ’s EV Market”. 
The event will take place in Bahrain on March 4, 2024 and marks the first session in the Forum's 2024 series focusing on carbon neutrality in the Mena region.
The roundtable session is organised in partnership with First Motors, a prominent EV dealership in Bahrain, and Infracorp, the Forum's lead partner and venue partner for the roundtable. In conjunction with the roundtable, Infracorp will sign a partnership agreement with Solar One to operate an electric vehicle charging station in Bahrain Harbour, making it the first residential community to cater to the needs of EV owners.
Reducing carbon emissions
Experts in transportation and sustainability from the region will join the session to discuss the imperative of reducing carbon emissions in the sector and the vital role that EVs play in achieving carbon neutrality. Globally, the transportation sector contributes significantly to total carbon emissions, with the United Nations estimating its contribution at 13% of global greenhouse gas emissions and 23% of energy-related carbon emissions, where road traffic alone accounts for three-quarters of these emissions.
Discussions will focus on the global challenge posed by transportation sector emissions and regional efforts to promote sustainable mobility solutions, including the rising consumer demand for electric mobility in the Mena region. Furthermore, experts will explore necessary actions and collaborative efforts needed to support the adoption of electric mobility, with a particular emphasis on EV technology, charging infrastructure and regulatory frameworks.
It will feature representatives from leading institutions, including Abdulaziz Tawfeeqi, Director of Development at Infracorp, while the session will be moderated by Kal Subramanian, Head of Markets at KPMG. 
Sustainable mobilility
Laila Danesh, Managing Director of FinMark Communications, Founder and Organiser of the Forum, said: “According to a recent study conducted by Deloitte, the EV market in the Mena region is expected to reach $7.65 billion by 2028, compared to $2.7 billion in 2023. This significant leap is evidence that sustainable mobility is on the rise. Experts will address the growth factors and challenges that greatly affect EV adoption, and will also discuss the solutions and investments needed to address them.”
Tawfeeqi commented: “As a lead partner of the Sustainability Forum Middle East, Infracorp is committed to driving positive change and promoting initiatives that enhance local and regional sustainability. We are focused on supporting the growth of the infrastructure needed to promote the adoption of EVs and strive through signing our partnership with Solar One to enable EV charging in Bahrain Harbour, becoming the first residential community to provide charging stations that meet the needs of EV owners. We also seek, through our investments and development projects, to contribute to achieving carbon neutrality, as carbon neutrality in the field of mobility is considered one of the essential components of a greener future.”
Nawaf Khalid Al Zayani, Managing Director of First Motors, said: “The rapid growth of the EV market in Bahrain and the region represents an exciting opportunity for our industry to play an important leadership role in supporting the government’s carbon emissions reduction targets. 
Key component
“Our customers are embracing electric mobility, and we are working hard to provide them with a range of options to help them make the transition. The rise of EVs is a key component of sustainable mobility, and we look forward to collaborating with stakeholders to exchange views and ideas on how to accelerate their adoption.”
The Forum is supported by a group of partners committed to regional climate action, including ABC Bank and Infracorp as lead partners, strategic partners like Tamkeen, Bapco Energies and Standard Chartered Bank, as well as forum partners such as APM Terminals Bahrain, ASRY, Zubi and Partners, the Bahrain Ship Repairing and Engineering Company (BASREC), and the American Chamber of Commerce in Bahrain. Gulf Air Group serves as the official carrier, and media partners include Asharq Business with Bloomberg, BFT Media and OGN.
Infracorp is a specialised company in investing in the infrastructure and sustainability development sector, with a capital of $1.2 billion. Infracorp manages a portfolio of nearly $3 billion in infrastructure assets, including a 250 million square feet land bank in the GCC, North Africa and South Asia, which is earmarked for sustainable economic and social infrastructure.--TradeArabia News Service


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