Manama: Walid Sheta, Zone President of Schneider Electric Middle East and Africa, emphasised the importance of aligning profitability and economic growth with social and environmental responsibility. In his remarks to Bahrain News Agency (BNA), he highlighted the potential for substantial efficiency improvements across sectors, contributing to both economic returns and climate goals.
According to Bahrain News Agency, Sheta stated that achieving over 30% efficiencies in production, industries, the banking sector, buildings, and infrastructure is possible while also delivering positive returns and contributing to net zero goals or reducing CO2 emissions. He commended the GCC’s active steps towards achieving net zero objectives, noting that even traditionally carbon-intensive industries, such as oil and gas, are increasingly committed to decarbonising their operations.
Sheta noted that the oil and gas industry is electrifying the processes by which they produce and extract oil or gas in their regions. He highl
ighted the dedicated efforts in the GCC region to advance the development of renewable energy through projects such as the largest single-site solar farms in Abu Dhabi. The elements of decision-making, financing, and availability of resources like sunlight are all contributing to the strong development of renewable energy initiatives in this part of the world.
Reflecting on the Gateway Gulf Forum, Sheta commended the opportunity it provided for GCC countries to unite under a common vision. He mentioned that all the GCC countries gathered as friends and brothers, sharing a common vision and using Bahrain as a platform. Sheta also highlighted Bahrain’s role as a strategic platform for financial institutions and trade, predicting a positive future for the Kingdom. Decision-makers are adamant about progressing, and there is much to do for industrials like Schneider Electric, he added.