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
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),...
Geostrategy
World can’t ‘unplug’ existing energy system: COP28 head
Riyadh, Saudi Arabia - The president of the upcoming COP28 climate talks in Dubai called on Sunday for governments to abandon...
- Climate activists have criticized the appointment of Jaber to lead the COP28 talks which kick off in Dubai next month, given that he is also head of the oil firm ADNOC.
- But Jaber has garnered the support of COP parties including US climate envoy John Kerry, partly by emphasising his belief that "the phase-down of fossil fuels is inevitable."
Science
Drought caused major global hydropower drop in early 2023
BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023,...
- Wind and solar generation grew more slowly in the first half of this year than in the same period last year.
- The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030.
‘Broken in two’: Libya flood survivors grapple with mental health
Last month's flood was the latest catastrophe to strike the oil-rich North African country that has been wracked by war...
- IRC warned of the "immense psychological toll the emergency is taking on those affected, particularly in the city of Derna, one of the areas hardest-hit
- UNICEF's partners had "reported several instances of suicides, withdrawal, lack of sleep, bed wetting... among children, especially in shelters"
Tens of millions of children uprooted by climate disasters: UNICEF
In a sweeping report on the issue, the United Nations agency detailed the heart-wrenching stories of some of the children...
- From 2016 to 2021, floods, storms, droughts and wildfires led to 43.1 million child displacements in 44 countries, the UNICEF report says
- UNICEF called on world leaders to take up the issue of child displacement at the COP28 climate summit in Dubai in November and December
Business
ADNOC awards two contracts for Hail and Ghasha Offshore Development project
ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...
- The first contract for the offshore facilities has been awarded to a joint venture between National Petroleum Construction Company and Saipem.
- The second contract will deliver the onshore scope, including carbon dioxide and sulphur recovery and handling and has been awarded to Tecnimont.
Economy
Largest climate fund seeks new funding for vulnerable
The Green Climate Fund (GCF) was set up as part of the landmark 2015 Paris Agreement to funnel grants and...
- The Green Climate Fund says Thursday's conference in Germany will allow it to invest more in a decade it sees as critical for climate action
- It has laid out a 50by30 vision to manage $50 billion by 2030, almost triple its current capital of $17bn, to focus efforts on developing countries
Business
ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology
ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...
- The CycloneCC technology is designed to improve the economics of point-source carbon capture within industrial facilities.
- Traditional point source carbon capture technology relies on feeding gas through large absorption and stripping towers.
Geostrategy
Countries pledge to raise $12 billion to help coral
The pledge comes with coral around the world under particularly acute stress because of record warm seas this year.
- Marine heatwaves -- episodes of abnormally high water temperatures -- have become more frequent and intense.
- Oceans have absorbed 90 percent of the excess heat produced by human activity since the dawn of the industrial age, according to scientists.
Geostrategy
Oil industry is an integral part of climate solutions, says COP28 head
President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...
- The president of the upcoming COP28 urged oil industry leaders to curb emissions associated with energy production.
- He also encouraged them to embrace "low carbon solutions" like carbon capture and storage,
Economy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
- The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
- The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
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
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COP28 initiatives to narrow climate finance disparity
Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...
COP28 UAE
UAE, Turkey explore ways to enhance bilateral relations
Abu Dhabi, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed bilateral ties with Recep Tayyip Erdogan, President...
Geostrategy
Gulf expects no change in oil export despite deal at COP28
Dubai, UAE - An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes...
COP28 UAE
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Geostrategy
Tunisian villages grapple with severe water scarcity
Ouled Omar, Tunisia - Tunisian villager Ounissa Mazhoud ties two empty jerry cans to a donkey and cautiously descends a stony...
- The World Bank predicts that by 2030 the Middle East and North Africa region will fall below the "absolute water scarcity" threshold of 500 cubic meters yearly per person.
- Tunisia, already the 33rd most water-stressed country according to the World Resources Institute, has dropped to 450 cubic meters per inhabitant
COP28 UAE
World Bank to expand climate funding in MENA by $10 billion
Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...
- The funding supports both reducing net emissions and resilience projects, said Meskerem Brhane, the bank's Regional Director for Sustainable Development, MENA.
- She added that by embracing green growth strategies, the region's GDP could potentially grow to over $13 trillion by 2050.
COP28 UAE
World unites at COP28 to shift away from fossil fuels
Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...
- Nearly 200 countries in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step in addressing climate change.
- EU climate chief Wopke Hoekstra lauds the historic deal targeting a 43% reduction in emissions by 2030 as a significant breakthrough after decades of discussions.