World Bank boosts climate financing by 10 percent
Washington, United States - The World Bank announced Thursday that it delivered a record $42.6 billion in climate change financing in...
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
Business
California sues oil giants, alleges environment, climate-risks deception
The US state of California sued five of the world's largest oil companies, alleging the firms caused billions of dollars...
- The suit follows numerous other cases brought by US cities, counties and states against fossil fuel interests over the impact of climate change.
- The suit seeks the creation of an abatement fund to pay for future damages caused by climate disasters in California.
Economy
Aid groups warn of outbreak of disease in Libya after floods
Several aid organizations have warned of the outbreak of disease in the port city of Derna, after Sunday's flood submerged...
- Islamic Relief has warned of a second humanitarian crisis from water-borne diseases and shortages of food
- The UN has made an appeal for more than $71 million to assist hundreds of thousands in need
UAE to meld climate change talks with interfaith harmony at COP28
Abu Dhabi, UAE - The UAE Ministry of Tolerance and Coexistence and the COP28 Presidency have signed a Memorandum of...
- The UAE Ministry of Tolerance and Coexistence will assist in organizing and overseeing the Faith Pavilion at COP28
- The platform aims to enhance global religious engagement to bolster climate action and address the climate crisis
Business
Emirates NBD Group invests in sustainability startup Erguvan
Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial...
- The investment was made via Deniz Ventures, an investment fund launched by DenizBank A.S., Türkiye, under the umbrella of Emirates NBD Innovation Fund
- The Group-wide fund was created to enable investments in FinTech, SustainTech and Tech companies and start-ups across Emirates NBD’s key markets
Economy
Drought, fires threaten Lebanon’s northern forests
In the wake of a blistering and dry summer, residents of the mountainous Akkar region near the Syrian border are...
- A government official blamed the water shortages on both a lack of rain and rising demand
- Lebanon "doesn't have the logistical capabilities to deal with a huge fire," said Taleb, a resident
Economy
UAE is 6th highest per capita consumer of solar energy in the world
Abu Dhabi, UAE - The UAE ranks among the top world leaders in solar energy use, according to a recent...
- The country has developed solar mega projects, including Shams, Noor Abu Dhabi and Al Dhafra in Abu Dhabi
- Masdar, the country’s leading renewable energy company, has played a key role in these projects
California firefighters use AI to battle wildfires
For several years firefighters have used a network of more than 1,000 cameras to monitor possible fire hotspots. Since the...
- Computers watching live feeds from Cleveland National Forest spotted what their algorithm had been taught to understand was a column of smoke
- Human operators were able to verify the machines were correct and alerted Captain Kris Yeary of Cal Fire, whose firefighters quickly extinguished the flames
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.
World Bank boosts climate financing by 10 percent
Washington, United States - The World Bank announced Thursday that it delivered a record $42.6 billion in climate change financing in...
Company News
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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
‘Nuclear solutions remain key to sustainable future’
“In the context of energy transition, flexibility is gaining more traction in the energy markets. This is exactly what small...
Economy
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...
Geostrategy
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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.
Geostrategy
Digitalization has high environmental costs, says UNCTAD meet
DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate...
- Data-driven technologies like the Internet of Things, robotics and artificial intelligence can enhance climate change monitoring.
- The digital transformation has left its mark on the planet through raw material depletion, energy and water use, pollution and waste.
COP28 UAE
COP28 goes into overtime as negotiators wrestle over fossil fuel
COP28 has debated a historic first-ever global "phase-out" from oil, gas and coal, the main culprits in a planetary crisis...
- With low-lying island nations warning that their very survival is at risk, negotiators worked through the night and the Emirati hosts promised a new draft to try to find consensus.
- Saudi Arabia has told COP28 to take its "concerns" into consideration while the OPEC oil cartel has urged members to resist calls to end their lucrative export.