Qatar to invest 1 bn pounds in climate technologies with UK
London, United Kingdom - The British government said Wednesday that it has agreed to a partnership with Qatar that will see...
Divided G20 fails to agree on climate action, Ukraine war escalation dominates Rio summit talks
G20 leaders in Rio failed to resolve UN climate talks deadlock, merely stating funding for developing countries battling global warming...
COP28 UAE
OPEC implores members to oppose any COP28 deal targeting fossil fuels
Dubai, UAE--The head of OPEC has urged members of the oil cartel to reject any deal at UN climate talks...
- The OPEC chief urged members to reject any text or formula that "targets energy i.e. fossil fuels rather than emissions"
- On Friday, negotiators released an updated text that still includes various options for exiting oil, gas and coal
Geostrategy
Fossil fuels usage must end by 2040 to restrict warming to 1.5C
In a note to the UN Secretary-General Antonio Guterres and UN Climate Change body, shared with AFP, climate scientists from...
- The steep timeline they laid out comes as climate negotiators at the COP28 talks in Dubai are tussling over the future of oil, gas and coal.
- The UN climate negotiations are tasked with helping the world meet the Paris deal goal of limiting global warming to 1.5 degrees Celsius.
COP28 UAE
COP28 president Sultan Jaber pushes for rapid fossil fuels draft deal
Climate campaigners have viewed Jaber with deep suspicion due to his position as the head of UAE national oil firm...
- Despite disagreements over the future of fossil fuels, Jaber voiced optimism that the talks hosted by the oil-rich UAE can finish with a historic deal
- A draft deal was released on Tuesday but negotiators failed to produce another text on Wednesday before heading into the break
Economy
Renewable energy, sustainability drive GCC growth
The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for...
- The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for the region.
- Investments in solar and wind power in Saudi Arabia and the UAE mark a clean energy shift, reshaping consumer behavior and the financial sector, creating new jobs and industries.
Economy
COP28 strong push for climate action in Arab region
"The UNDP has spent approximately $1 billion in the Arab region for integrated development solutions driven by national priorities and...
- Launch of the Loss and Damage Fund at COP28 marks a crucial step in supporting climate action in the Arab region.
- UNDP's significant investment of $1bn in the Arab region focuses on integrated development aligned with national priorities.
Business
99 percent of world live in areas with air pollution levels above WHO guideline limits
DUBAI, UAE - According to World Health Organization data, 99 percent of the world’s population lives in places where air...
- Leading businesses recognize that they have an important role in reducing air pollution alongside greenhouse gas emissions.
- Business activity contributes significantly to air pollution globally but air pollution is not prioritized nor integrated into climate action.
Business
People-positive approach needed in clean power transition: WEF paper
Dubai, UAE -- Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...
- The white paper calls for a dialogue between the industry and community groups and NGOs to define common standards for a people-positive energy transition.
- It also urges governments to not only focus on the lowest price but also the wider societal value creation in their transition plans.
Business
UAE banks align with global sustainability standards
“The pledge made by our UBF Chairman, Abdulaziz Al Ghurair, to mobilize over AED 1 trillion in sustainable finance, represents...
- UBF pledges over AED 1 trillion ($272 billion) for sustainable finance by 2030.
- The pledge reflects collective efforts of national banks towards a sustainable future.
COP28 UAE
Saudi Electricity Company targets net zero emissions by 2050
Dubai, UAE - The Saudi Electricity Company (SEC), the largest producer, transmitter, and distributor of electrical energy in the Middle...
- The announcement was made during a special event SEC organized on the sidelines of the United Nations COP28 climate-change summit in Dubai
- The SEC said it has signed seven agreements with leading local and international companies, including LUCI, Al-Fanar, Sal Italy, CHINT Saudi Arabia, Siemens, etc
COP28 UAE
UAE launches Industrial Decarbonization Roadmap at COP28
Dubai, UAE - The UAE announced the launch of the Industrial Decarbonization Roadmap at COP28 on Tuesday with the aim...
- The ministry and its partners have examined and evaluated the feasibility of more than 50 advanced technologies and innovative solutions
- These include clean electricity, carbon capture, utilization and storage, manufacturing efficiency, alternative fuels, recycling, clinker substitutes, and hydrogen
Qatar to invest 1 bn pounds in climate technologies with UK
London, United Kingdom - The British government said Wednesday that it has agreed to a partnership with Qatar that will see...
Company News
Latest News
Big firms with $7trn exit climate investment pressure group
Launched in 2017, Climate Action 100+ aims to work with companies to halve their greenhouse gas emissions by 2030, through...
UN chief slams ‘distressing’ spending on arms over climate
Without action, "the situation will deteriorate," he warned. "Conflicts are multiplying. The climate crisis is set to spiral, as emissions...
COP hosts UAE, Azerbaijan, Brazil announce climate ‘troika’
The UAE hosted last year's COP28 conference in Dubai, while Azerbaijan will host this year's summit followed by Brazil in...
Economy
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Business
Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...
- The bank added it would scale back lending for existing fossil fuel projects as the sector faces intense pressure from activist investors to help tackle climate change.
- The British lender's move to curb financing of oil and gas projects follows similar announcements from European bank heavyweights BNP Paribas, Credit Agricole, HSBC and ING.
Science
Scientists in UK create new fusion record
LONDON, UK - Scientists in Britain announced on Thursday they had smashed a record for generating fusion energy in the final...
- Over 300 scientists and engineers from EUROfusion contributed to JET's landmark experiments over 40 years.
- Proponents believe it could one day help tackle climate change by providing an abundant, safe and clean source of energy.
Science
World sees first 12 months above 1.5C warming level, says climate monitor
PARIS, FRANCE - Earth has endured 12 consecutive months of temperatures 1.5C hotter than the pre-industrial era for the first time...
- Recent months have seen a global onslaught of extremes, including devastating drought gripping the Amazon basin
- The UN's IPCC climate panel had already warned that the world will likely crash through 1.5C in the early 2030s.