Capital investment is needed to fund the green transition. This means that the finance sector must be involved in combating the climate crisis in countries around the world, including Lebanon. This column argues that to ensure that these funding needs are met, policy-makers should work in harmony with other stakeholders to ensure that businesses are incentivized to de-carbonise their operations. Only by easing the process of the green transition through sustainable financing can countries like Lebanon meet their environmental pledges. Policy action to support such funding is needed urgently.
Labour markets across much of the Arab region are split into two parts – they are dualistic. On one side, there are public sector workers who, while not paid handsomely, are protected from reform by incumbent governments desperate to secure middle class support. This insider group contrasts with the region’s outsiders – informally employed private sector workers and the unemployed. This column argues that outsiders are often left behind in terms of economic opportunities and outcomes, and that this hampers the overall growth potential of countries across the Arab world. Yet political feedback loops keep regimes from improving welfare and economic opportunities for outsiders.
In Egypt today, the labour market has become increasingly inhospitable for women, with the decline in public sector jobs in recent decades. But this column highlights a potential cause for optimism. Female jobs in ICT are on the rise, having grown at a compound rate of 6.4% per year, compared with a decline of 1% per year for non-ICT jobs. To make the most of this promising trend, Egyptian policy-makers should aim to foster an attractive investment climate for international firms, with a focus on building up ICT training and offering more remote working opportunities.