Bapco Energies, the integrated energy company leading the energy transition in Bahrain, will launch three new ventures, it was revealed at a major conference in Bahrain.
These new ventures will focus on maximizing enterprise value through investments in cutting-edge technologies and renewable energy, demonstrating the numerous collaborative opportunities within Bahrain's flourishing energy sector, Bapco Energies said.
The company also reaffirmed its commitment to sustainability, affordability and security of supply participating at the Global Water Energy and Climate Change Congress (GWECCC) held under the patronage of Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister.
The event from 5 to 7 September, which saw the participation of regional and global energy leaders, was held under the theme “Water Sustainability and Energy Transition: Implications on GCC and the World.”
Bapco Energies Chief Executive Officer Mark Thomas, participated in a leadership panel addressing the energy trilemma, said: “The timing of this event could not be more fitting for the Kingdom of Bahrain. It coincides with Bahrain’s concerted efforts to transition towards a low carbon future guided by the Kingdom’s National Energy Strategy. Our commitment to sustainability, affordability, and security of supply, as expressed in Bahrain’s Economic Vision 2030, inspires our transformative journey.”
The Kingdom has set ambitious targets to decarbonize its national economy, aligning with its COP26 commitments to achieve Net-Zero by 2060. As such, the National Energy Strategy provides a clear and forward-thinking roadmap to fulfilling its climate pledges.
Thomas reaffirmed Bapco Energies’ commitment to the Kingdom’s vision by stating: “As a progressive national oil company we have taken significant strides to align our operations with the Kingdom’s sustainability ambitions. This includes our Bapco Modernization Program, which once completed, will be one of the most efficient, complex, and modern refineries within the region.
"In the past month, we have expanded our financing capabilities, proudly launching our Sustainability Linked Finance Framework in partnership with Standard Chartered Bank. In doing so, we became the first national oil company in the world to directly link financing to our decarbonization targets, encompassing Scope 3 emissions," he said.
GWECCC serves as an important platform for energy leaders to discuss the pressing challenges posed by climate change and explore future pathways.
