Climate Change and the Diversification of Green Social Capital in the International Political Economy of the Middle East and North Africa: A Review Article

Abstract

This article critically reviews the idea of economic diversification of green social capital in the Middle East and North Africa (MENA) through renewable and sustainable energy projects that strive to tackle climate change and alleviate the negative consequences of human interaction in the ecological system. The western dominance and monopolisation of natural resources has caused an unlevel playing field for development, economic advancement and climate change in the region through the imbalance of power in the oil market. The reliance on oil could affect the development in the region with long-term financial recession due to heavy reliance on the resource. These challenges posit a question for the Middle East: (1) how can the region adopt a transition to a diverse economic framework that is less reliant on oil, and (2) since the phenomenon of climate change does not discriminate its adverse effects on the global community, including the aspect of international political economy in the region, in what ways are the MENA nations planning to stimulate sustainable economic development via green social capital? Our review for these issues is based on a qualitative approach and is methodologically centred upon selected case studies and document analysis of literature on economic diversification and sustainable ecological innovations via green social capital enterprises in the MENA region. We argue that green social capital, as opposed to traditional capitalism, has positive effects in the MENA region such as creating new job opportunities, boosting the economy and developing knowledge on climate change. The green social capital approach is viewed to continue to have positive results in the region through investment, the collaboration between the public sector and private enterprises and creating innovative ideas. Green social capital is not perfect by any means, but the method is diverse from traditional capitalism which can benefit the population in the global south, particularly in the MENA region.