UAE orders all companies to monitor emissions in new climate law
Under the new law, companies are required to report and reduce their emissions of the greenhouse gases that are responsible...
Geostrategy
‘AI saved 1.5 billion liters of water, cut carbon emissions equivalent to 1 million trees in Saudi Arabia’
Riyadh, Saudi Arabia – Artificial intelligence (AI) has contributed to saving 150 million sheets of paper and conserving 1.5 billion...
Economy
‘COP28 makes significant strides in climate action’
"COP28 is a very important conference because what it's doing is not just bringing people together, but it provides certainty...
- World Bank President Ajay Banga emphasizes COP28's significant progress in climate action, lauding its establishment of definitive deadlines for climate commitments.
- The ALTÉRRA fund, with a $30 billion capital, will enhance global climate action, alongside the World Bank's commitment to solar projects in Africa and methane reduction.
Business
Biodiversity credits demand may rise to $180bn annually by 2050
The transformation hinges on nearly all major companies adopting nature-related goals, with biodiversity credits playing a major role.
- Biodiversity credits are a novel financial instrument that could play a major role in contributing to a nature-positive future, explains the WEF report
- The WEF’s Global Risks Report 2023 has ranked biodiversity loss and ecosystem collapse as one of the top five threats to humanity over the next ten years
Geostrategy
Masdar City to construct region’s first net-zero energy mosque
Abu Dhabi, UAE - Masdar City, an Abu Dhabi, UAE-based sustainability and innovation hub dedicated to making all cities a...
- The mosque’s total energy requirements were reduced by 35 percent compared to international baselines using passive design
- Low-flow water fixtures, drought-resistant landscaping, and the use of recycled water for irrigation will reduce water use by 55 percent
COP28 UAE
We respect climate science, says COP28 head
DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked...
- Sultan Al Jaber also repeated his past statements that a phase out of fossil fuels was "inevitable".
- He acknowledged that global greenhouse gas emissions must be cut by 43 percent by 2030.
Geostrategy
Saudi energy minister calls Western climate pledges ‘small change’
"Unlike the small change offered for loss and damage from our partners in developed countries, the Kingdom through its South-South...
- The loss and damage fund for vulnerable nations, a major win at COP28, has attracted about $655m so far, a sum criticized as insufficient by campaigners.
- The prince's remarks were the latest sign of sharp differences around tackling the climate crisis as negotiators from around the world attempt to hammer out an agreement in Dubai.
COP28 UAE
$272 billion sustainable finance pledge by UAE financial sector at COP28
Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion...
- The commitment to mobilize AED 1 trillion was made by the UAE Banks Federation at an event held on Finance Day at COP28.
- Financial sector's engagement is critical to realize our collective climate ambitions, ensuring that the 1.5°C target remains within reach, said COP28 President Sultan Al Jaber.
Geostrategy
Saudi Arabia, Turkiye strengthen collaboration in agriculture, water management
RIYADH, SAUDI ARABIA – The Kingdom's Minister of Environment, Water and Agriculture Eng. Abdurrahman bin Abdul Mohsen Al-Fadhli signed a...
- Saudi Arabia and Turkiye expressed their commitment to prepare the agricultural sector in both the countries for climate change.
- The MoU aims to strengthen cooperation and enhance production capabilities in the domains of agriculture, livestock and water management.
COP28 UAE
Masdar, EDF to develop up to 3.6GW of hydropower, renewable projects in Kyrgyzstan
Dubai, UAE – Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse, and EDF have signed an agreement...
- The Kyrgyz Republic has set a target of reducing greenhouse gas emissions by as much as 44 percent by 2030, and achieving carbon neutrality by 2050
- Central Asia is a significant emerging market for Masdar which has several agreements to develop solar and wind projects in the region
COP28 UAE
Tunisia aims to reach 30% renewable energy by 2030: Delegate to COP28
Dubai, UAE - Tunisia has set a goal to reduce greenhouse gas emissions by 45 percent by 2030, and is...
- Bringing attention to the modest 4 percent share of renewable energy, the delegate highlighted the environmental challenges it poses
- Tunisia is one of the first countries to announce its intention to achieve carbon neutrality by 2050, the delegate added.
COP28 UAE
MENA region can create 10m jobs by 2050 via climate action, says ILO
DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
- The trend towards renewable energy has helped to create 13.7 million jobs in the sector worldwide.
- The ILO is participating in COP28 to ensure that climate change efforts include to monitor the impact on jobs.
UAE orders all companies to monitor emissions in new climate law
Under the new law, companies are required to report and reduce their emissions of the greenhouse gases that are responsible...
Geostrategy
Company News
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Wind-powered Dutch chemical tanker sets sail for greener future
Rotterdam, Netherlands - The world's first chemical tanker ship fitted with massive rigid aluminium "sails" has left Rotterdam, its owner hoping...
Business
Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...
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...
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Economy
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...
- The UAE, Brazil and Azerbaijan were mandated by 198 signatories to the Dubai agreement to work together on a roadmap to limit global warming to 1.5 C
- The 1.5-degree Celsius limit will probably be reached between 2030 and 2035, according to the Intergovernmental Panel on Climate Change (IPCC)
Business
Climate change parches Morocco breadbasket amid policy pitfalls
Berrechid, Morocco -- Around this time every year, Moroccan wheat farmer Abderrahim Mohafid is usually preparing for his spring harvest, but...
- Morocco has seen only about half the rainfall it did during the same period last year, the country's water minister Nizar Baraka told AFP.
- The sector accounts for 14 percent of Morocco's exports, with exported produce seen as more profitable than that sold in domestic markets.
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.