Search Site

Trends banner

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

IEA gives third term to chief for guiding shift to clean energy

  • The Turkish economist, who has been in the role since September 2015, will serve for another four years from September 2023
  • The agency has since its inception focused on the energy security of developed countries but its mission was officially extended this week to search for carbon neutrality

The International Energy Agency approved a third term for executive director Fatih Birol as the organization seeks a faster transition to clean energy, it said Friday.

The Turkish economist, who has been in the role since September 2015, will serve for another four years from September 2023.

His mandate, approved unanimously by the Paris-based agency’s governing board, comes at a “pivotal moment” for the IEA, it said in a statement.

Birol now had the “strong backing to lead a new era for the IEA”, it added.

The agency has since its inception focused on the energy security of developed countries but its mission was officially extended this week to search for carbon neutrality to address climate change.

Among its new missions, the IEA will also focus on the question of metal and mineral resources, key to producing carbon-free energy hardware.

The IEA was founded in 1974 following the oil crisis with a mandate focusing on energy security and policy cooperation.

Under the leadership of Birol, the IEA has focused on the transition to zero-carbon energy as part of the sector’s fight against climate change.

In May 2021, the IEA produced a roadmap which included a call for no investment in new fossil fuel supply projects.