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Riyadh
, Saudi Arabia - March 8, 2010:
Gulf International Trading Group (GITG), a leader in the trading of high-quality, eco-friendly construction materials in the Middle East, has outlined a robust agenda during this week’s Gulf Environment Forum 2010 to be held from March 7 - 9 at the Jeddah Hilton in the Kingdom of Saudi Arabia. HE Khalid Al Midfa, Chairman of GITG, is attending the forum to highlight the opportunities for adopting sustainable development practices and the benefits of adopting such strategies in the GCC.
The strategic conference and international exhibition is being held with the consent of Custodian of the Two Holy Mosques H.R.H. King Abdullah bin Abdulaziz Al Saud and under the patronage of H.R.H. Crown Prince Sultan bin Abdulaziz Al-Saud as well as H.R.H. Prince Turki bin Nasser bin Abdulaziz, Chairman of the Presidency of Meteorology and Environment. The event has the support of the United Nations Environment Programme, United Nations Development Programme and the Ministry of Trade in KSA.
During the panel discussion “Oil and Renewable Energy - Integration Rather than Competition”, Al Midfa will outline methods for developing and integrating clean energy in the Gulf region. Also speaking on the panel will be individuals including H.R.H. Prince Abdulaziz Bin Salman Bin Abdulaziz, Deputy Minister for Petroleum Affairs, Ms. Edith Cresson, Former Prime Minister of France, and Veerle Vandeweerd, Director of Energy & Environment Group, UNDP Headquarters.
Al Midfa believes that implementing rules and regulations in line with the most progressive renewable-energy technologies is the only way to position GCC projects currently under development as a role model in sustainable urban development. If this is done, the GCC countries can lead the advancement of the renewable energy sector and play a key role in inspiring private and nonprofit organizations to invest in this burgeoning sector of the economy.
“The GCC region is in the spotlight this year as the world looks to see whether oil producing states will be a part of the renewable energy sector, and if so, how involved they will be in leading the transition to renewable sources,” comments Al Midfa.
The GCC region has definitely started to move in this direction in recent years, with $25 billion to be invested in the solar and wind energy sectors alone. According to a recent analysis of global energy consumption by NCBC Research, renewables account for only 5.4% of total energy use, with hydroelectric power the most important sub-category making up close to 3% of the total share of renewables. The company has also said that investing in renewable energy will allow the GCC region to diversify its energy portfolio, reduce carbon emissions, and preserve precious fossil fuels for greater export revenue in the future.
“Gulf Environment will be a great opportunity for changing the Gulf for the better,” adds Al Midfa. “The Saudi market in particular has traditionally been undersupplied with green energy solutions, and we believe that solar, wind and geo-thermal energy will be promising renewables to explore in this market in the coming years.”
With a history of connecting manufacturers of eco-friendly materials to project managers throughout the Middle East, GITG is currently one of the Middle East's most active trading companies in supplying eco-friendly construction materials. Al Midfa has previously participated in numerous international conferences on renewable energy including World Future Energy Summit 2010 in Abu Dhabi and last year’s COP 15 forum in Copenhagen, Denmark.
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