The next two instalments of the UN climate change conference – Cop 27 and Cop 28 – will take place in Egypt in November 2022 and in the UAE in November 2023.

And it is the role of the host countries to lead, encourage and cajole governments and companies into taking action.

The Gulf states understand that the energy transition has huge ramifications for their hydrocarbon-based economies and can see an opportunity to lead the future energy agenda through investment and policy initiatives. 

But it is not just about shifting from oil and gas to clean energy. The Gulf states know that the world will be dependent on hydrocarbons for decades to come.

The January 2022 issue of MEED Business Review looks at the role of Saudi Arabia, Qatar and the UAE in leading the move away from fossil fuels.

MEED's energy editor Jennifer Aguinaldo discusses how net-zero ambitions are reshaping the region as GCC states strive to address climate change and find economic alternatives to hydrocarbons.

Regional countries’ economic and risk profiles will determine their energy transition outcomes, she writes in this month's main Agenda feature.  

The MEED Top 100 megaprojects can also be found in our latest issue. Austerity has affected dozens of major projects across the region, with budget cuts disrupting the megaprojects landscape. But oil price improvement is coaxing hope for fresh spending.

This month's 15-page Market Focus on Oman finds Muscat heading for higher fiscal ground as the oil price shoots above the sultanate’s breakeven point.

Must-read sections in the January 2022 edition of MEED Business Review include:

> AGENDA: Carving a path to net-zero

> OPINION: Weekend swap steps up competition / Saudi support for Bahrain shifts

> BIG INTERVIEW: Mohamed Jameel al-Ramahi, CEO of Masdar

> CURRENT AFFAIRS: UAE builds on Sheikh Zayed’s legacy

> RECOVERY INDEX: Higher energy prices buoy oil exporters

> INDUSTRY REPORT: The MEED Top 100 megaprojects

> MARKET FOCUS: Oman’s economy to stabilise in 2022

> TECHNOLOGY: Aramco strives for artificial intelligence innovation

> LEADERSHIP: Why building digital expertise is no longer optional

> LEGAL: UAE president approves legal reforms

> EXPO: Building a tolerant and inclusive society

> GULF PROJECTS INDEX: Gulf Projects Index falls in December 2021

> NOV 2021 CONTRACTS: Middle East contract awards continue to rise

> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts

We hope you enjoy the January 2022 edition of MEED Business Review.