“We are facing a global crisis”: Plastic pollution treaty talks open with ‘global crisis’ warning
Plastic pollution is so ubiquitous that microplastics have been found on the highest mountain peaks, in the deepest ocean trench...
Economy
Almost half of Europe and Mediterranean basin hit by drought
Paris, France - Europe and the Mediterranean basin has been hit by a long-lasting drought covering over 45 percent of...
Economy
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
COP28 UAE
Mashreq commits $30bn to UAE banking sector’s sustainable finance by 2030 pledge
DUBAI, UAE -Mashreq bank has been announced as one of the top contributors to the UAE Banks Federation’s (UBF) pledge,...
- UAE Banks Federation had pledged to mobilize US$272 billion (AED 1 trillion) in sustainable finance by 2030 at COP 28 meeting.
- Mashreq’s commitment to facilitating US$30 billion by 2030 builds on years of sustainable finance deployment in the MENA region.
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.
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“We are facing a global crisis”: Plastic pollution treaty talks open with ‘global crisis’ warning
Plastic pollution is so ubiquitous that microplastics have been found on the highest mountain peaks, in the deepest ocean trench...
Economy
Company News
Latest News
Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
Climate change is slowing heat waves, prolonging misery
While previous research has found climate change is causing heat waves to become longer, more frequent and more intense, the...
Economy
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
Most Read
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...
- The assessment of the 25 largest listed fossil fuel firms by the think-tank Carbon Tracker is designed to enable investors to judge whether the firms are in line with international
- At the bottom of the Carbon Tracker list were Saudi Aramco, Brazil's Petrobras, and the US's ExxonMobil, all rated G. The US firm Conoco Phillips was given an H
Geostrategy
Methane emissions under spotlight at global forum in Geneva
Methane emissions from the fossil fuel industry have risen for three consecutive years, according to the International Energy Agency (IEA),...
- Methane -- which is potent but relatively short-lived -- is a key target for countries wanting to slash emissions quickly and slow climate change
- It is the second largest contributor to climate change, accounting for roughly 30 percent of global warming since pre-industrial levels
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.