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
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...
Economy
Derna counts the cost of Libya flood disaster
Derna was home to about 100,000 people, and many of its multi-storey buildings on the banks of the riverbed collapsed,...
- Two dams burst in Derna on Sunday after storm hit, releasing a surge of water that tore through the city, sweeping away buildings and people inside them
- Rescue teams from The Turkey have arrived in eastern Libya, according to authorities. The United Nations and several countries offered to send aid
Geostrategy
Red Cross warns death toll may surge as 10,000 missing in Libya floods
The death toll from freak floods in eastern Libya is expected to soar dramatically, with 10,000 people reported missing, the...
- World Health Organization spokeswoman Margaret Harris meanwhile described the situation in Libya as "a calamity of epic proportions".
- In eastern Libya, the storm hit the coastal town of Jabal al-Akhdar especially hard, as well as Benghazi, where a curfew was declared.
Geostrategy
Building less, repurposing more key to low construction sector emissions
The industry is responsible for 37 percent of global carbon dioxide emissions and growing urbanization is spurring the construction of...
- Mushrooming urban environments -- which add new buildings in an area equivalent in size to Paris every five days -- damage life-sustaining ecosystems.
- Building less and repurposing existing structures generates 50-75 percent fewer emissions than new constructions, a report said.
Geostrategy
150 dead in Libya after storm Daniel results in floods
"At least 150 people were killed as a result of flooding and torrential rains left by storm Daniel in Derna,...
- The storm struck eastern Libya on Sunday afternoon, notably the coastal town of Jabal al-Akhdar but also Benghazi, where a curfew was declared.
- Images filmed by residents of the disaster area showed massive mudslides, collapsed buildings and entire neighborhoods submerged under water.
Business
ENEC inks MoU with OSGE
Aim is to help in decarbonization of the Polish power sector.
- One of the aims of the agreement is exploring opportunities to invest in Small Modular Reactors.
- Nuclear energy is recognised by both the UAE and Poland as an essential clean energy resource.
Geostrategy
Countries must cooperate to battle sandstorm threat, say UN, Iran
Countries in the Middle East, Africa and Asia must work together to combat sand and dust storms made increasingly severe...
- According to meteorologists, sand and dust storms are expected to increase in countries most vulnerable to climate change.
- Iran, co-organizer of the two-day gathering, is one country where such storms are increasingly numerous.
Geostrategy
World falling dangerously short of climate goals: UN report
Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and...
- Global greenhouse gas emissions must peak by 2025 and drop sharply thereafter to keep the 1.5C target in view, the so-called stocktake said.
- "Scaling up renewable energy and phasing out all unabated fossil fuels are indispensable elements of just energy transitions to net zero emissions," it said.
IMF, World Bank vow to address climate change threat at G20
The leaders of the International Monetary Fund and World Bank announced that the two institutions will collaborate more closely to...
- "Climate change is a threat to global peace, security, economic stability, and development," IMF chief Kristalina Georgieva and WB President Ajay Banga said
- The two leaders said both IMF and WB "need to help all our member countries integrate their climate and development goals"
Business
Masdar, Africa50 sign MoU
The aim is to speed up clean energy transition in Africa.
- Masdar brings its technical expertise and extensive experience in emerging markets and will work with Africa50 to bridge the infrastructure funding gap.
- Africa50 brings its skill in developing projects in the continent and which, combined with Masdar, can help unlock clean energy potential.
Syria’s ancient adobe houses threatened by war, displacement
"Village Umm Amuda Kabira in Aleppo once had 3,000 to 3,500 residents and some 200 mud houses," said Mahmud al-Mheilej,...
- Also known as "beehive houses", the conical adobe structures are designed to keep cool in the blazing desert sun while their thick walls also retain warmth in the winter
- Umm Amuda Kabira village in Aleppo province is among a handful of places where residents long used to live in the small domed houses, made of mud mixed with brittle hay
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
Company News
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Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...
‘Investment policies must align with net-zero goals’
An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions,...
COP28 UAE
‘Tech solutions help make food practices sustainable’
UAE's launch of Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, WEF's Tania...
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COP28 UAE
Protecting nature may avert $2.7trn global economic losses: World Bank
Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually,...
- Hickey said low-income countries may lose nearly 10 percent of their GDP annually by 2030 if select ecosystem services, such as forests, fisheries collapse
- She said that the loss of nature is at the core of central development challenges, mainly health, inequality, climate change, food security and energy
COP28 UAE
COP28 last chance to keep 1.5C target alive: John Kerry
US climate envoy issued the warning after COP28 president Sultan Al Jaber proposed a draft deal that did not include...
- He said that nobody at COP28 wants to be part of the failure to live up to this responsibility
- The 2015 Paris Agreement set the increasingly elusive target of limiting warming to 1.5 degrees Celsius
Geostrategy
Arab meet calls for more investments in renewable energy
Speaking at the 12th Arab Energy Conference organized by the Organization of Arab Petroleum Exporting Countries (OAPEC), Qatar's Energy Minister...
- OAPEC Secretary General Eng. Jamal Issa Al Loughani emphasized the conference's focus on international energy market developments and their local and global implications.
- He called for a careful balance between emission reduction, energy availability and affordability, while underscoring challenges in building sustainable energy systems.