Iranians told to use less water as heatwave worsens shortages
Tehran, Iran - Iranian authorities have urged residents to limit water consumption as the country grapples with severe shortages amid...
Economy
Eight-country coalition aims to tax luxury air travel
Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...
Business
COP28 UAE
‘Unintended consequences’: friction at COP28 over green trade
Inside the negotiating rooms and on the sidelines of the COP28 climate talks, simmering tensions over wealthy countries' "green trade"...
- WTO has received about 18,000 complaints over green policies yet trade was still often overlooked by climate policymakers, director general Ngozi Okonjo-Iweala said
- Concerns have also been raised that these kind of climate policies may make it harder for another nation to sell their goods or access clean energy technology
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.
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Iranians told to use less water as heatwave worsens shortages
Tehran, Iran - Iranian authorities have urged residents to limit water consumption as the country grapples with severe shortages amid...
Economy
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Sprinklers and drip irrigation help Iraqis beat drought
After four years of drought, Iraqi farmer Mohammed Sami was about to abandon his father's parched land, but then a...
Economy
Poorer countries need money before raising climate targets, says COP29 head
Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...
Geostrategy
No oil and gas majors aligned with climate targets: report
An A grade would be potentially aligned with the goals of the 2015 Paris Agreement to limit temperature rise to...
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Geostrategy
Women, rural poor most affected by climate change, says UN
PARIS, FRANCE – Heatwaves and floods inflict greater economic pain on rural women than men because climate change intensifies existing inequalities,...
- The report said rural, women-led households in low- and middle-income nations already face more financial burdens than men when disaster strikes.
- It estimated that if average temperatures increase one degree Celsius, women would face a 34 percent greater loss in total income compared to men.
Above-normal temperatures for March-May due to El Nino: UN
El Nino, the large-scale warming of surface temperatures in the central and eastern equatorial Pacific Ocean, typically has the greatest...
- Though El Nino is now gradually weakening, its impact will continue over the coming months by fuelling the heat trapped in the atmosphere by greenhouse gases
- It is a naturally occurring climate pattern typically associated with increased heat worldwide, as well as drought in some parts of the world and heavy rains elsewhere
Economy
World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
- The hunger for natural resources -- everything from food to fossil fuels -- keeps growing by an average of more than 2.3 per cent per year, it said.
- Extraction and processing of the huge amount of resources accounts for over 60 percent of planet-warming emissions, the report said.