Countries in the gulf region should also invest in

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Countries in the Gulf region should also invest in professional training of green technicians, such as those who install or operate solar panels. The private and public companies that supply the solar panels or green energy equipment should have qualified personnel to enable
Surname 15them to perform quality work. When unqualified staff installs the solar panels, the probability of the equipment breaking is high. Therefore, the professional training of green technicians in the Gulf region is also a worthy investment towards the realization of a green economy.It is true that the green economy exists. We can clearly define green economy as one that leads to social equity and improved lifestyle of people. Moreover, it is also an economy that helps to reduce environmental risks and ecological scarcities. With the emergence of worldwide markets for green technology and the development of green bonds, it is clear that green economyexists. Similarly, in the Gulf region, the Islamic financial institutions have also introduced the Green Sukukto raise capital for investments in environmentally sustainable projects. The existence of different investors who focus on lower-carbon and greener investments also reveals that a green economy exists.Although no single definition of green economy exists, in its broadest sense, it refers to an economy that result in improved well-being of people and social equity, while substantially reducing ecological scarcities and environmental risks to the future generations. Conversely, green funding refers to a mutual fund that invests in firms or corporations that are considered socially conscious in the operations or promote environmental responsibility. Economies around the world have taken various measures to implement the concepts of green economy and green finance. The Gulf countries are increasingly applying the concepts of green economy. Dubai’s plan to establish a 1GW solar park, Abu Dhabi’s carbon-neutral Masdar City, Qatar’s Solar Schools project, and Saudi Arabia’s enormous solar heating plant in Riyadh are some the undertakings that the Gulf countries are doing as part of embracing green economy.
Surname 16Works CitedAllen, Cameron, and Clouth, Stuart. A Guidebook to the Green Economy. 2012. UNDESA. BIAC. “Green Finance: Key Business Considerations for Financing a Sustainable and Low-Carbon Economy.” BIAC. 2016. -BIAC-Paper-on-Green-Finance3.pdfESCWA. Green Economy Initiatives, Success Stories and Lessons Learned in the Arab Region. 2013. uccess%20stories_SDPD_13_P1.pdfEuropean Commission. “Green Bonds: New Study Shows Extraordinary Growth and Signals Potential in Financing Europe’s Climate and Environmental Goals.” 2016.

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