Title Energy and environment in Saudi Arabia : concerns and opportunities / Nahed Taher, Bandar Hajjar

Published Cham : Springer, 2014

Table of Contents
1.	Environmental Challenges, Regulations and Institutions in Saudi Arabia					1
1.1.	Overview					1
1.1.1.	Key Environmental Challenges					2
1.2.	Environmental Regulations					8
1.3.	Institutions Responsible for Environmental Policies in Saudi Arabia					11
1.3.1.	Services Provided by PME					13
1.3.2.	Achievements of the PME					13
1.3.3.	Institutions Responsible for Renewable Energy					14
1.3.4.	Strengthening Regulations and Institutions					17
1.4.	Lessons from Around the World					19
1.5.	Comparing Saudi and Other Countries' Laws on Waste Control and Management					20
1.6.	Lessons on Energy Efficiency					23
1.7.	Opportunities for the Private Sector					24
2.	Environmental Concerns and Policies in Saudi Arabia					27
2.1.	Overview					27
2.2.	Stylised Facts					28
2.3.	Literature Review of the Economic Growth--Environment Nexus					40
2.4.	Modelling the Economic Growth--Environment Link for Saudi Arabia					41
2.4.1.	Analysis of the Results					44
2.4.2.	Economic Growth Forecasts Based on the Three Emissions Reduction Scenarios					46
2.4.3.	Testing for Structural Breaks in the Environment--Growth Relationship					47
2.5.	Policy Implications					48
3.	Environmental Investments					53
3.1.	Overview					53
3.2.	Green Bonds and Green Sukuk					54
3.2.1.	Why Green Bonds?					54
3.2.2.	Leading Issuers of Green Bonds					55
3.2.3.	Leading Underwriters of Green Bonds					57
3.2.4.	Prospects of Green Bonds					58
3.2.5.	Key Issues and Challenges					59
3.2.6.	Islamic Bonds (Sukuks)					60
3.3.	Venture Capital					63
3.3.1.	Why Venture Capital?					64
3.3.2.	Global Landscape of Venture Capital					64
3.3.3.	Venture Capital Investment in Environmental or ̀Green' Products					67
3.3.4.	Venture Capital in the GCC Region					68
3.3.5.	Investment Strategies of Venture Capital Funds					70
3.4.	Private Equity and EFs					71
3.4.1.	Environmental Funds					72
3.4.2.	Investment Strategy of EFs					73
3.4.3.	Performance of EFs					75
3.5.	Clean Development Mechanism					78
3.5.1.	CDM Project Eligibility and Trends					78
3.5.2.	Limitations of CDM					79
3.6.	Public Private Partnerships					80
3.6.1.	Global PPP Landscape					81
3.6.2.	PPPs in the GCC Region					83
3.6.3.	Challenges Facing PPPs in the GCC Region					85
3.6.4.	Policy Options for Successful Implementation of PPPs in the GCC Region					91
3.7.	Conclusion					92
4.	Incentive Structures					95
4.1.	Overview					95
4.2.	Incentives Schemes for Green Investments					96
4.3.	Direct Financial Incentives					98
4.3.1.	Tax Instruments					98
4.3.2.	Subsidies, Direct Grants, and Soft Loans					99
4.4.	Public Finance Mechanisms					101
4.5.	Legal and Regulatory Policies					103
4.5.1.	Feed-in Tariffs					106
4.5.2.	Utility Quota Obligation					109
4.5.3.	Net Metering					110
4.5.4.	Obligations and Mandates					111
4.5.5.	Challenges Posed by Weak Legal and Institutional Capacities					112
4.5.6.	Miscellaneous Incentives					112
4.5.7.	Education and Information Dissemination					113
4.5.8.	Stakeholder Involvement					113
4.6.	Policy Options for Saudi Arabia					114
5.	Environmental Business Channels					117
5.1.	Overview					117
5.2.	Global and Regional Environmental Markets					118
5.3.	Global Environmental Business Segments					121
5.4.	Key Players in the Global Environmental Market					126
5.5.	Do Incentives Matter?					126
5.5.1.	Regression Results					130
5.6.	Environmental Investment Opportunities					133
5.6.1.	Opportunities in the Environmental Resources Segment					134
5.6.2.	Water Utilities					152
5.7.	Opportunities in the Environmental Services Segment					154
5.7.1.	Waste Management					154
5.7.2.	Recycling Waste Energy					156
5.8.	Opportunities in the Environmental Equipment Segment					157
5.8.1.	Water and Wastewater Treatment Equipment					157
5.9.	Conclusion					159
6.	The Way Forward					161
6.1.	Overview					161
6.2.	Global and Regional Economic Growth Outlook					163
6.3.	Global Energy Demand Forecasts					165
6.3.1.	Sectoral Assessment					169
6.4.	Options for Promoting Clean Technology Business					170
6.4.1.	Government Policy Actions					170
6.4.2.	Financing issues					178
6.4.3.	The role of the private sector					179
6.5.	Conclusion					180
	Appendices					183
	References					199

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Description 1 online resource (xxxi, 203 pages) : color illustrations Contents Environmental Challenges, Regulations and Institutions in Saudi Arabia -- Environmental Concerns and Policies in Saudi Arabia -- Environmental Investments -- Incentive Structures -- Environmental Business Channels -- The Way Forward Summary The vast oil resources in Saudi Arabia have for decades encouraged a generous system of oil subsidies, making the Kingdom one of the leading countries in the world with the cheapest domestic price of oil. Such subsidies have, however, encouraged inefficient utilization of oil, which is largely consumed in the power, water and transportation sectors, contributing substantially to CO2 emission in the country. These problems are exacerbated by demographic dynamics, urbanization, changes in income and consumption patterns, and industrialization. On current trends of domestic consumption patterns, Saudi Arabia will consume the whole of the oil it will produce by 2030, which will reflect negatively on the financial capacity of the government to execute its development programs. It is this revenue constraining concern, rather than ecological challenges, that has started to attract policy attention in Saudi Arabia. This book gives a unique perspective on these challenges by looking at them as investment opportunities, not financial constraints on the government budget. It sets out to examine the nature and extent of the energy and environmental challenges facing Saudi Arabia, and to explore various options for turning these challenges into profitable investment opportunities that could create jobs, boost income, develop capability in clean energy technology and promote environmental sustainability Bibliography Includes bibliographical references Notes Print version record Subject Environmental policy -- Saudi Arabia BUSINESS & ECONOMICS -- Infrastructure. SOCIAL SCIENCE -- General. Science économique. Affaires. Ecology Environmental policy SUBJECT Saudi Arabia -- Environmental conditions Subject Saudi Arabia Form Electronic book Author Hajjar, Bandar, author ISBN 9783319029825 3319029827

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