2023海湾合作委员会资本支出波动系列报告：低碳资本支出的上升（英文版）-高盛.pdf

Note:ThefollowingisaredactedversionoftheoriginalreportpublishedNovember28,2023[96pgs].

EQUITY RESEARCH|November28,2023|7:36AMGST

GCCCapexWaveSeries

Theriseinlow-carboncapex

Emergingasaglobalhubforcleanenergy

The2023UnitedNationsClimateChangeConference(COP28)willtakeplace

inDubaifromNovember30toDecember12,2023.Withnetzerocarbon

targetsinplaceformostGCCcountries,ambitiousplansarebeing

implementedbykeyplayersinthemarkettofacilitatedecarbonization,

includingcompaniesintheenergy,industrialsandinfrastructuresectors.As

partofGSsCarbonomicsframework,weseetheregionaswellpositionedto

capitalizeonitsadvantagessuchaslow-costpositioninginenergy,proximity

tokeyimportmarkets,andaconstructiveregulatorybackdrop,whichshould

enablethebuild-upofaglobalhubnotjustforfossilfuels,butalsofor

renewables/carbonsequestration/cleanfu