The industrial transition has reached a decisive phase. From renewables to carbon capture, utilisation and storage (CCUS), technologies to decarbonise heavy industries—including cement, aviation, shipping and steel—have been proved to work. But scaling them cost-effectively and at speed remains a challenge. The session will explore how bankable projects, shared infrastructure and aligned policy can enable countries in the Middle East to make progress towards hard-to-abate sectors while maintaining competitiveness, energy security and growth. How can organisations move from innovation to execution amid rising costs and infrastructure gaps?

The Intergovernmental Panel on Climate Change estimates that meeting current climate goals will require approximately 7–9 gigatonnes (Gt) CO₂ removal will be required each year by 2050. Only ~2 gigatonnes removal per year is happening currently, placing unprecedented pressure on technologies capable of delivering emissions reductions at scale. Carbon capture, utilisation and storage (CCUS) is recognised as an essential pathway for decarbonising heavy industries. But progress remains slow. High capital costs, uncertain policies, long-term storage liabilities and the absence of shared carbon dioxide transport and storage infrastructure continue to constrain deployment. Can CCUS realistically deliver the scale and permanence required for climate goals? How companies prevent CCUS from becoming a distraction from direct emissions reductions in industrial processes? How can policy ensure CCUS complements, rather than substitutes for, real decarbonisation?

Carbon markets are at a pivotal moment, as voluntary and compliance systems begin to converge into a more integrated global framework. Hybrid systems, where entities can use voluntary credits to meet part of their compliance obligations, are gaining traction. This convergence could reshape how climate finance flows globally, improving liquidity and transparency. But risks remain: policy misalignment, uneven quality standards and geopolitical fragmentation could undermine trust and slow progress. Can carbon market convergence truly unlock the scale of private capital needed for the net-zero transition? How can policymakers and companies ensure integrity and avoid greenwashing as markets expand? Will convergence deliver equitable finance flows to emerging economies or reinforce existing imbalances in global climate investment?

Trade remains an underutilised tool in climate action. The global production and distribution of goods contribute to about a quarter of all carbon dioxide emissions and a significant share of biodiversity loss and global pollution. But trade can also enhance access to energy-efficient goods and the technologies needed for the energy transition, adaptation and mitigation of climate change. New sustainability-linked trade measures—such as the EU’s Carbon Border Adjustment Mechanism (CBAM) and the European Union Deforestation Regulation (EUDR)—are reshaping global commerce. While designed to level the playing field and prevent carbon leakage, these policies affect the export competitiveness of developing economies, prompting shifts in supply chains and trade flows. How can governments ensure that environmental standards strengthen rather than fragment global markets?What support is needed to help developing countries adapt, remain competitive and capture new opportunities in sustainable trade?

Biodiversity and ecosystems in the Middle East face unprecedented threats. These are driven by changes in land use, climate change, pollution, natural resource use and invasive species. This is also a major risk for businesses, threatening operations, supply chains and overall sustainability. Besides relying on ecosystems, every business also impacts natural capital. And taking action to address biodiversity loss can be a major business opportunity. According to the World Economic Forum, protecting nature worldwide could generate $10trn in business opportunities annually by 2030 and create nearly 400m new jobs. What dedicated strategies are businesses developing to protect and restore natural ecosystems and to create value and stay resilient in the long term?

The financial services industry is expected to play a critical role in achieving net zero targets. Green bonds, environmental, social and governance investments and other financial tools are essential for scaling up clean energy, resilient infrastructure and resource efficiency. This panel will explore how sustainable finance can integrate financial mechanisms into climate policy design and mobilise capital. Panelists will examine the tools, regulations and data capabilities needed to turn climate commitments into measurable impact.