Restoring sea floor after mining may not be possible, researchers warn
Kingston, Jamaica -- Scientists present at the latest effort to hash out international rules for deep-sea mining say it's unclear...
Geostrategy
Nations advance ocean protection, vow to defend seabed
UN Ocean Conference wrapped up Friday with world leaders taking major steps toward marine protection and vowing a showdown when...
Geostrategy
Economy
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
- By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
- If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Economy
Rising temperatures worry MENA region
The Middle East and North Africa (MENA) region faces severe climate change challenges, including water scarcity and extreme temperatures, with...
- With diverse strategies from GCC to non-GCC nations, the battle against climate change underscores a delicate balance between economic growth and environmental sustainability.
- In the MENA region, resource-rich GCC countries are better equipped to tackle climate change challenges that threaten food security, water resources, and biodiversity.
Business
UAE company secures African land the size of the UK for carbon offset projects: report
Dubai, UAE - Blue Carbon, a Dubai-based company has secured expansive forested land across several African nations, a CNN report...
- The area is earmarked for conservation projects aimed at safeguarding forests and preventing significant amounts of carbon dioxide from entering the atmosphere
- Forest conservation agreements involving Zimbabwe, Zambia, Kenya, Liberia, and Tanzania were announced in the months leading up to the COP28 climate summit
Economy
MENA’s $2trn construction boom boosts sustainability
With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in...
- With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in sustainable urban development.
- The region sees a unique chance to pioneer sustainable technologies, potentially reducing lifecycle emissions by 50-60%, highlights Strategy& Middle East and Dar.
Geostrategy
Fishing nations pledge to protect sharks, rays
CAIRO, EGYPT - Atlantic fishing nations have agreed to better protect sharks and rays by limiting the retention of several bycatch...
- Sharks and rays are facing what conservationists have called an extinction crisis, with nearly two thirds of coral reef species at risk.
- Sharks and rays must be better protected by governments and fisheries said an advocacy coalition advancing conservation policies.
COP28 turns attention to potent methane emissions
Methane -- which is potent but relatively short-lived -- is a key target for countries wanting to slash emissions quickly...
- Methane is the second largest contributor to climate change, accounting for around 16 percent of the warming effect
- It remains in the atmosphere for only about 10 years, but has a much more powerful warming impact than CO2
Business
Norwegian firm expects first cross-border transport of CO2 in 2025
Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...
- Yara International signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed.
- Carbon capture and storage is aimed at helping halt climate change, involves capturing CO2 emissions at factory smokestacks and burying them underground in geological reservoirs.
World’s richest 1% emit as much carbon as bottom two-thirds: report
Among the key findings of this study are that the richest one percent globally -- 77 million people -- were...
- While fighting the climate crisis is a shared challenge, not everyone is equally responsible and government policies must be tailored accordingly, co-author of the report says
- "Climate Equality: A Planet for the 99%", was based on research compiled by SEI and it examined the consumption emissions associated with different income groups
Business
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
- Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
- Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.
Business
Adoption of electric vehicles in US face infrastructure hurdles
NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and...
- Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships.
- The network of EV charging stations in the US remains dodgy, with many areas either lacking infrastructure or equipped with unreliable machines
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Restoring sea floor after mining may not be possible, researchers warn
Kingston, Jamaica -- Scientists present at the latest effort to hash out international rules for deep-sea mining say it's unclear...
Geostrategy
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.