Saudi Arabia has been ranked among the top 20 countries in the 2023 Circular Carbon Economy Index, according to the King Abdullah Petroleum Studies and Research Center (KAPSARC). The index evaluates global progress towards achieving net-zero emissions and readiness for the circular carbon economy, with 64 nations representing 90 percent of global economic activity included in the assessment.
Norway secured the top position in the index, followed closely by the UK, the Netherlands, Canada, and Germany. These countries have demonstrated their commitment to environmental responsibility and sustainability. The rankings highlight the success of leading nations in deploying various circular carbon economy technologies, including renewable and nuclear energy, clean hydrogen, and carbon capture, utilization, and storage.
While many countries have improved their index scores from the previous year, there remains a substantial gap between the top and bottom performers. KAPSARC climate expert Fatih Yilmaz emphasized the growing interest among countries to utilize critical technologies such as carbon capture and storage and hydrogen in their net-zero planning. However, gaps in access to sustainable finance and clean technologies continue to hinder the global transition to a circular carbon economy.
Countries at the bottom of the rankings, including Ethiopia, Uganda, Tanzania, Nigeria, and Cameroon, face barriers to accessing and utilizing clean technologies. These developing and lower-income nations struggle with financial constraints and technological disparities, underscoring the need for urgent global collaboration to bridge these gaps.
The Circular Carbon Economy Index comprises two sub-indices: CCE Performance and CCE Enablers. Each nation receives assessments on a 0 to 100 scale for both sub-indices, which are then aggregated to determine the Total CCE Index score. This comprehensive score measures a country’s effectiveness in navigating the transition to a circular carbon economy, considering both current performance and potential for future progress. The CCE Enablers score assesses a country’s readiness to unlock the potential of the circular carbon economy, taking into account factors such as policy, technology, finance, and the business environment.