ESCWA Publication: E/ESCWA/CL1.CCS/2023/TP.1
Country: Arab region
Publication Type: Information material
Cluster: Climate Change and Natural Resource Sustainability
Focus Area: 2030 Agenda, Climate change, Natural resource sustainability
Initiatives: Promoting renewable energy investments, Enhancing resilience and sustainability of agriculture, Up-scaling energy efficiency in residential & services sectors, Green Technologies for Enhancing Rural Livelihoods
SDGs: Agenda 2030, Goal 1: No Poverty, Goal 2: Zero Hunger, Goal 3: Good Health and Well-Being, Goal 4: Quality Education, Goal 5: Gender Equality, Goal 6: Clean Water and Sanitation, Goal 7: Affordable and Clean Energy, Goal 8: Decent Work and Economic Growth, Goal 9: Industry, Innovation and Infrastructure, Goal 10: Reduced Inequalities, Goal 11: Sustainable Cities and Communities, Goal 12: Responsible Production and Consumption, Goal 13: Climate Action, Goal 14: Life Below Water, Goal 15: Life On Land, Goal 16: Peace, Justice and Strong Institutions, Goal 17: Partnerships for the Goals
Keywords: Arab countries, Capital markets, Case studies, Databases, Decentralization in management, Digital technology, Electric power, Electric vehicles, Energy efficiency, Energy resources, Financing, Governance, Information technology, Information networks, Project activities, Public-private partnerships, Recommendations, Sustainable development, Sustainable energy
The role of blockchain in the sustainable energy transition in the Arab region
February 2024
The present technical paper explores the transformative potential of blockchain technology in the Arab region to manage an increasingly complex energy sector, characterized by a shift towards digitalization, decentralization and decarbonization. It asserts the importance of intelligent digital tools in empowering stakeholders to adapt to evolving energy landscapes through increased transparency and efficiency. The report contends that successful blockchain implementation requires a thoughtfully designed, case-specific approach, weighing the need for transparency, speed, security and cost. As blockchain technology continues on its rapid development path, with new decentralized applications and use cases, Arab countries stand to benefit from integrating this tool within their overall digitalization strategies for a just, inclusive and sustainable energy transition.
The present technical paper also outlines the key challenges and opportunities for the technology in the Arab region. It highlights promising use cases from the region and around the world which leverage blockchain in the energy sector, and provides a set of strategic pillars and policy recommendations to ensure this emerging technology supports the sustainable energy transition in the Arab region.
Related content
2030 Agenda
, Climate change
, Natural resource sustainability
,
The present technical paper explores the transformative potential of blockchain technology in the Arab region to manage an increasingly complex energy sector, characterized by a shift towards digitalization, decentralization and decarbonization. It asserts the importance of intelligent digital tools in empowering stakeholders to adapt to evolving energy landscapes through increased transparency and efficiency. The report contends that successful blockchain implementation requires a thoughtfully designed, case-specific approach, weighing the need for transparency, speed, security and cost. As blockchain technology continues on its rapid development path, with new decentralized applications and use cases, Arab countries stand to benefit from integrating this tool within their overall digitalization strategies for a just, inclusive and sustainable energy transition.
The present technical paper also outlines the key challenges and opportunities for the technology in the Arab region. It highlights promising use cases from the region and around the world which leverage blockchain in the energy sector, and provides a set of strategic pillars and policy recommendations to ensure this emerging technology supports the sustainable energy transition in the Arab region.
