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Spain, UK making headway on renewable energy

A new report said Tuesday (Sep 20), Germany, China, Spain and the UK are leading the world’s richest nations in the push towards renewable energy.
International non-profit Climate Group compiled the rankings of G20 countries based on both ambition and progress, the AFP reported, the al-Arabiya English said.
Modest climbers included Australia, India, the United States and Japan – while Canada and Brazil score poorly, despite existing high renewable electricity use.
“What we’ve recognized at the Climate Group over a number of years is the importance of the policy environment to enable rapid action on renewables,” Mike Peirce, the organization’s executive director of systems change, told AFP.
The report – published during New York’s annual Climate Week on the sidelines of the UN General Assembly – is designed with a group of 380 leading businesses in mind, called the RE100 companies, that have committed to go 100 percent renewable.

Twenty countries, including Spain as a permanent guest of the G20, were given grades from A to E.
Areas examined included net zero targets, renewable power target ambition, share of renewables in total installed capacity in 2021, and renewable capacity additions in 2021.
Spain, which got an A, was lauded for setting out to deliver “one of the most ambitious renewable power policies in the European Union,” with all new power capacity additions over the last decade coming from green energy.
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Renewables accounted for 21 percent of Spain’s total final energy consumption in 2020, surpassing its goal of 20 percent, with plans to increase this to 43 percent by 2030 and 97 percent by 2050 when it is due to reach its climate neutrality goal.
India, which got a C, ranks fourth in the world for installed renewable power capacity with 158 gigawatts – but while there are key signs of ambition from the central government, the report cited high capital costs and grid connection challenges as significant headwinds.
Brazil and Canada were termed “stragglers,” both receiving Ds despite having an abundance of hydropower, with the report urging more diversification as severe droughts have put future energy generation at risk.
Major Japan railway now powered only by solar and other renewable energy
The percentage of renewables in Canada’s total final energy consumption slipped slightly from 25.8 percent in 2009 to under 25 percent by the end of 2019. While Canada is targeting net zero by 2050, it lacks any interim dates for checkpoints along the way.
To do better, countries must lay out strong roadmaps with key interim targets, implement financing solutions to drive investor confidence.
“As Europe buckles under the weight of the energy crisis, its leaders are regretting that they didn’t transition from fossil fuels faster. They mustn’t lock themselves in to further damaging emissions,” Peirce said.
Source: alarabiyaenglish
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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